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Topic: Packer and Durham talked about NIL
Replies: 4   Last Post: Apr 16, 2021, 4:11 PM by: bigunfatrat
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Packer and Durham talked about NIL

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Posted: Apr 16, 2021, 11:37 AM
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There was not a mention of what will be done to aid or help the athletes have legal and accounting representation. There will be few 18 year old athletes ready to comprehend all the legal and taxation pitfalls there are out there. I think the league should have an entity to advise and handle accounting of funds for all athletes. I know that 18 or 19 that I did not have the background to handle these things. If for no other reason than to make sure the taxes are paid.

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I assume with NIL players will have agents


Posted: Apr 16, 2021, 1:22 PM
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Part of an agent's job is handling accounting. Certainly can't count on NCAA for any guidance or assistance.

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that should be their parents influence and or teaching***


Posted: Apr 16, 2021, 2:13 PM
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Re: Packer and Durham talked about NIL


Posted: Apr 16, 2021, 3:15 PM
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So the NIL allows players to receive income from outside sources. It is not the responsibility of the school to provide personal tax advise to players. Just like back in the day when Dabo cleaned gutters for spending money. The school has no involvement in this transaction or how the individual players choose to deal with the tax consequences. As part of the PAW journey our program may want to discuss this topic but strictly speaking is not something a college should be concerned with or about.

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Re: Packer and Durham talked about NIL


Posted: Apr 16, 2021, 4:11 PM
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I do not think that you folks seem to grasp the depth of this situation. A student can not hire an agent or he will be considered a professional. Parents are good influences but do all of them have the financial acumen to get all of the details worked out? Third, the University does have a vested interest in seeing that the athletes are doing things properly. Otherwise the student may become ineligible and cost the university some grief.

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