NIL and questions

[bulloni]

Would love an ebay style store that the players could list **** on. I'll do the $10 a month for some collective. But seems like it would be more mutually beneficial (and what i thought NIL was going to be) if we could all bid on some of the players old helmets/jerseys that they signed and sold. We win a bowl game and the players all get rings? Fans would line up to throw their money at them for those rings.

Hell, wouldn't it be within NIL rules for the players to just open up an Ebay store they could all list their stuff on? As long as the team isn't involved? They'd get a lot more than $120 a year from me if I was able to bid on signed gear

[bulloni]

4 minutes ago, bulloni said:

Would love an ebay style store that the players could list **** on. I'll do the $10 a month for some collective. But seems like it would be more mutually beneficial (and what i thought NIL was going to be) if we could all bid on some of the players old helmets/jerseys that they signed and sold. We win a bowl game and the players all get rings? Fans would line up to throw their money at them for those rings.

Hell, wouldn't it be within NIL rules for the players to just open up an Ebay store they could all list their stuff on? As long as the team isn't involved? They'd get a lot more than $120 a year from me if I was able to bid on signed gear

Looked around and found this 

NIL

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Support your favorite student athletes by purchasing their official player merchandise, memorabilia, and more. Every product purchased, is money in the athlete's pocket.

 

Looks like players can sign up and sell their gear, merch, or just signed pictures. IDK how to get in touch with players about this but if Weaver was signing print outs of this picture for $20 a pop he might just sell 1000 of them. I guess when Grothe explains that new collective tonight there may be avenues for players to do just this through that collective

 

[Paisa el Toro]

4 hours ago, Brad said:

Back on the USF, NIL, priorities and the Fowler Avenue entity, they are actively seeking money from Publix, Outback, Hooters, Jabil and other companies.  Going after funding from what I would think are the very same organizations the Bulls Club is working.  

One key difference is that a portion of donations to the Bulls Club are tax deductible, since it's a nonprofit. Money provided to Fowler Avenue cannot be claimed as tax deductible in the same way. The Bulls Club retains that advantage.

[bullsbucsfan426]

9 minutes ago, Paisa el Toro said:

One key difference is that a portion of donations to the Bulls Club are tax deductible, since it's a nonprofit. Money provided to Fowler Avenue cannot be claimed as tax deductible in the same way. The Bulls Club retains that advantage.

I'd have to see how the collective rules work but could a business buy a membership to have a player advertise their products? Would be deductible then. 

[Paisa el Toro]

1 minute ago, bullsbucsfan426 said:

I'd have to see how the collective rules work but could a business buy a membership to have a player advertise their products? Would be deductible then. 

I'm not a tax expert, but a typical business is not set up as a 501(c)(3) nonprofit organization.

[Jim Johnson]

18 minutes ago, bullsbucsfan426 said:

I'd have to see how the collective rules work but could a business buy a membership to have a player advertise their products? Would be deductible then. 

Yes, but you could do that with the player directly without going through the collective... as in what The Bulls Pen is doing... and then it would be deducible as a business expense, as you indicate.

The membership itself might not actually be considered a business expense, however... something that might only be a problem in an audit.

15 minutes ago, Paisa el Toro said:

I'm not a tax expert, but a typical business is not set up as a 501(c)(3) nonprofit organization.

For profit businesses can deduct certain business expenses.

[bullsbucsfan426]

22 minutes ago, Jim Johnson said:

Yes, but you could do that with the player directly without going through the collective... as in what The Bulls Pen is doing... and then it would be deducible as a business expense, as you indicate.

The membership itself might not actually be considered a business expense, however... something that might only be a problem in an audit.

For profit businesses can deduct certain business expenses.

Agree there. Memberships are in that gray zone though usually not considered deductible. You'd have to show some kind of income production or business purpose (I.e. Resulted in new contract or whatever) 

[Paisa el Toro]

1 hour ago, Jim Johnson said:

For profit businesses can deduct certain business expenses.

Yes, things like depreciation, business losses, etc., things related to the for profit business. For profit businesses are not in the donation business. Monies provided the Fowler Avenue "collective" cannot be claimed as a donation, like it can to the Bulls Club.

Edited August 9, 2022 by Paisa el Toro

[Jim Johnson]

1 hour ago, Paisa el Toro said:

Yes, things like depreciation, business losses, etc., things related to the for profit business. For profit businesses are not in the donation business. Monies provided the Fowler Avenue "collective" cannot be claimed as a donation, like it can to the Bulls Club.

It can if it serves a business purpose.  It's a membership - like a membership in a country club.  It's a gray area, to be sure.

However, if a business wanted to use an athlete for promotion (which is allowed under NIL), advertising/marketing expenses are deductible.

[Jim Johnson]

Although Title IX technically doesn't apply because collectives are private businesses, I wonder how long it will be before women athletes raise the issue if entire men's teams are getting paid... some women are getting NIL deals here and there, but the SMU collective ... and now this.
 

A donor-run NIL collective is coming to USC football — against the school's wishes

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USC athletic department leaders have opposed the creation of "Student Body Right," an NIL group created by deep-pocketed donors and diehard fans.