2024 Transfer Portal

USCJacket said:
You don’t honestly think a Texas NIL collective is giving out Lambo’s do you? Especially for the #2 WR on Bama. Take what you see at about 25% face value. A lot of the ON3 etc NIL values are false. There has yet to be any true proof to most of these so called 7 figure NIL deals, etc. I assume like the Ole Miss transfer showing the same type of car, there’s a cache to it.

Heck, the Utah Utes Dodge Truck NIL package are leases for free while on scholarship. That’s the only real promotion that’s been published.
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Agreed. All kinds of questions about something like this:
The Lambo would be taxable income, so are they grossing it up with additional cash so the player doesn't have to come up with the tax out of pocket?
Who's paying the annual registration/vehicle tax?
Who's paying for the insurance?
Where does the player garage it?
 
swampsting said:
And Ferrari is the reason we got Van Hagar.
Sammy had his in the shop and the mechanic also worked on Eddie's Ferrari. He told Sammy to call Eddie. The rest is ... eh.
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It was just a different band. Still good, but not the DLR VH.

As DLR used to say, "Sammy can throw a great party, but I am a party" or something.
 
I cannot wait for a starting QB to thereaten sitting out the playoff if he does not get paid a bonus

Or even better switching teams before or during playoffs.
 
ee8384 said:
Agreed. All kinds of questions about something like this:
The Lambo would be taxable income, so are they grossing it up with additional cash so the player doesn't have to come up with the tax out of pocket?
Who's paying the annual registration/vehicle tax?
Who's paying for the insurance?
Where does the player garage it?
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Who's to say they aren't just letting him use it while he is playing for Texas. He doesn't have to "own it". As for the garage, seriously?? If they are providing him a Lambo, I doubt they have trouble providing a garage for it.
 
JTS said:
I cannot wait for a starting QB to thereaten sitting out the playoff if he does not get paid a bonus

Or even better switching teams before or during playoffs.
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Not the playoffs, but Miami’s starting quarterback was dressed out for Wisconsin at their bowl game.
 
gtleviathan said:
But what if I need cash now?
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IMG_2296.jpeg
 
aeromech said:
Who's to say they aren't just letting him use it while he is playing for Texas. He doesn't have to "own it". As for the garage, seriously?? If they are providing him a Lambo, I doubt they have trouble providing a garage for it.
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Wouldn't that result in some sort of imputed income that would have to be reported and taxed? If NIL can just be payment in kind in the form of services, loaners, etc. then it's a bottomless pit : free private jet trips home, etc.

Guess I should get to my point - the guy didn't get a Lambo. In any way, shape or form.
 
ee8384 said:
Wouldn't that result in some sort of imputed income that would have to be reported and taxed? If NIL can just be payment in kind in the form of services, loaners, etc. then it's a bottomless pit : free private jet trips home, etc.

Guess I should get to my point - the guy didn't get a Lambo. In any way, shape or form.
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"ain't nobody got time for that" gif
I fully expect some these top players with NIL deals to get popped by the IRS in the future; but what do these NIL cooperatives care. Once he is finished playing for Texas the IRS can do whatever it wants, it's the player's responsibility to correctly file his taxes, not the NIL payers.
 
aeromech said:
"ain't nobody got time for that" gif
I fully expect some these top players with NIL deals to get popped by the IRS in the future; but what do these NIL cooperatives care. Once he is finished playing for Texas the IRS can do whatever it wants, it's the player's responsibility to correctly file his taxes, not the NIL payers.
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The LAST thing I would want, if I were a star player, is a ööööing car or truck. Give me money.

I'd also want a deferred contract. Pay me now and pay me when I'm 30, 35, 40, 45, 50.....figure out how to move a large amount of funds into a backdoor Roth invested in a nice indexed fund so I could get an extra $10 million+ or so, tax free, when I hit my 60's.
 
JJacket said:
The LAST thing I would want, if I were a star player, is a ööööing car or truck. Give me money.

I'd also want a deferred contract. Pay me now and pay me when I'm 30, 35, 40, 45, 50.....figure out how to move a large amount of funds into a backdoor Roth invested in a nice indexed fund so I could get an extra $10 million+ or so, tax free, when I hit my 60's.
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Yeah, you would’ve wanted a Fiero for every day of the week, each a different color.
 
ee8384 said:
Agreed. All kinds of questions about something like this:
The Lambo would be taxable income, so are they grossing it up with additional cash so the player doesn't have to come up with the tax out of pocket?
Who's paying the annual registration/vehicle tax?
Who's paying for the insurance?
Where does the player garage it?
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I doubt there is enough in the "ownership" part of this for anyone to care where it gets garaged.
 
coit said:
Yeah, you would’ve wanted a Fiero for every day of the week, each a different color.
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I want the money a good '85 Fiero would cost, which is probably $50k to $100k. I never lost a race in my '85.
 
coit said:
I got a ticket one time for parking in a fraternity house yard for a basketball game over Christmas break when no one was on campus.
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If you park and think to yourself "I wonder if I will get a ticket parking here" then you will get a ticket parking there.

I've read University of Colorado's ticketing is even worse. Even Deion has been ticketed.
 
LongforDodd said:
I doubt there is enough in the "ownership" part of this for anyone to care where it gets garaged.
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My point was if the player were actually given a Lambo, he probably isn't going to want to street park it on campus.
 
coit said:
I got a ticket one time for parking in a fraternity house yard for a basketball game over Christmas break when no one was on campus.
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that's funny.
i got towed once parking in a lot down the street from peter's park because those boneheads forgot to post warning signs that the wreck parade was staging there..(i didn't get charged for the tow) i had a nasty hangover and wasn't sure where i had parked so i was lucky that after a few days someone told me about signs there after the fact.
 
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