IlliniHQ 2

General Category => Fighting Illini Basketball Forum => Topic started by: ILLINICHIEF on April 04, 2025, 11:21:58 AM

Title: NIL Issues
Post by: ILLINICHIEF on April 04, 2025, 11:21:58 AM: I'm sure Illinois is the ONLY school having issues right...players not reporting $$$...Hmmm, can't imagine that.

https://www.sportsbusinessjournal.com/Articles/2025/04/04/discrepancies-found-in-univ-of-illinois-athletes-reporting-of-nil-deals/

Gonna get worse
Title: Re: NIL Issues
Post by: Somewhere in Mn on April 04, 2025, 11:29:34 AM: Quote from: ILLINICHIEF on April 04, 2025, 11:21:58 AM
I'm sure Illinois is the ONLY school having issues right...players not reporting $$$...Hmmm, can't imagine that.

https://www.sportsbusinessjournal.com/Articles/2025/04/04/discrepancies-found-in-univ-of-illinois-athletes-reporting-of-nil-deals/

Gonna get worse
I stopped here .......

"navigating a relatively new terrain rife with legal, moral and financial pitfalls.”

The NCAA: Omg, we have to DO something !!!!!! How about we create a new terrain rife with legal, moral and financial pitfalls ?

Good thinkin. Lol
Title: Re: NIL Issues
Post by: Jobu on April 04, 2025, 11:31:05 AM: I actually like the DIA's plausible deniability approach.

"We gave these fuckers the app to report their shit. Up to them to do it. *shrugs*"
Title: Re: NIL Issues
Post by: Beach Bum on April 04, 2025, 12:36:27 PM: Quote from: Jobu on April 04, 2025, 11:31:05 AM
I actually like the DIA's plausible deniability approach.

"We gave these fuckers the app to report their shit. Up to them to do it. *shrugs*"

If a 20 year old demands $1M a year to play bball and gets it, it's not the school's job to ensure he's reporting it legally with the IRS.

U of I didn't file my taxes when I was in Champaign.
Title: Re: NIL Issues
Post by: ILLove1997 on April 04, 2025, 12:50:29 PM: giving uneducated teenagers millions of dollars sounds like a great idea, what could go wrong
Title: Re: NIL Issues
Post by: Jobu on April 04, 2025, 01:24:11 PM: Quote from: Beach Bum on April 04, 2025, 12:36:27 PM
If a 20 year old demands $1M a year to play bball and gets it, it's not the school's job to ensure he's reporting it legally with the IRS.

U of I didn't file my taxes when I was in Champaign.

Yep. That's exactly what I was getting at.
Title: Re: NIL Issues
Post by: Jobu on April 04, 2025, 01:24:56 PM: Quote from: ILLove1997 on April 04, 2025, 12:50:29 PM
giving uneducated teenagers millions of dollars sounds like a great idea, what could go wrong

The IRS could open up a whole new branch for this shit, and keep a lot of agents busy.
Title: Re: NIL Issues
Post by: Judge Judy on April 04, 2025, 01:38:17 PM: Quote from: Jobu on April 04, 2025, 01:24:56 PM
The IRS could open up a whole new branch for this shit, and keep a lot of agents busy.

Not with Trump in office… 😎
Title: Re: NIL Issues
Post by: Jobu on April 04, 2025, 01:40:14 PM: Quote from: Judge Judy on April 04, 2025, 01:38:17 PM
Not with Trump in office… 😎

Ok. So what little IRS agents are left can audit your shit, and let the NIL stuff go.

Sounds good to me.