NIL questions

S

spellingbee

Flats Noob
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Aug 10, 2002
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I'm not going to lament what the NIL has done to what was amateur athletics. IIWII, and I still bleed white and gold.
However, if any of you are more knowledgeable than I am (probably most of you) could you explain a few things related to NIL.

1. I just learned for certain that, when you hear a figure such as Josh Petty's 800K, it is an annual payout. Can a school and a player sign a multi-year agreement or is an agreement, like the standard scholarship offer, just for one year?

2. Who do players actually sign with? Who guarantees the money? The institute? GTAA? The Tech Way? Are there any stipulations for the player in these contracts other than show up and play?

3. Is all the money linked somehow to the use of name, image, likeness? Seems that a lot of the money is just pay for play.

4. How does academic performance factor into agreements and payouts?

5. Geeez that's a lot of money for 18, 19 years old kids to make! Does the institute provide any guidance as to how to manage it, what tax implications will arise, or how to use it as a foundation for the future? Sounds like Petty's father has financial competence and could be a great resource for him, but not all players have that?

Thanks for reading. I hope a few of you can chime in.
 
All great questions. I am embarassingly ignorant on the subject.
 
00Burdell said:
All great questions. I am embarassingly ignorant on the subject.
Click to expand...

Unfortunately I think most are. It's very secretive and misinformation/speculation tends to fill the void, starting with on3 which literally just makes up "NIL values" for players.
 
spellingbee said:
I'm not going to lament what the NIL has done to what was amateur athletics. IIWII, and I still bleed white and gold.
However, if any of you are more knowledgeable than I am (probably most of you) could you explain a few things related to NIL.

1. I just learned for certain that, when you hear a figure such as Josh Petty's 800K, it is an annual payout. Can a school and a player sign a multi-year agreement or is an agreement, like the standard scholarship offer, just for one year?

2. Who do players actually sign with? Who guarantees the money? The institute? GTAA? The Tech Way? Are there any stipulations for the player in these contracts other than show up and play?

3. Is all the money linked somehow to the use of name, image, likeness? Seems that a lot of the money is just pay for play.

4. How does academic performance factor into agreements and payouts?

5. Geeez that's a lot of money for 18, 19 years old kids to make! Does the institute provide any guidance as to how to manage it, what tax implications will arise, or how to use it as a foundation for the future? Sounds like Petty's father has financial competence and could be a great resource for him, but not all players have that?

Thanks for reading. I hope a few of you can chime in.
Click to expand...
Yes
 
You want to play, you got to pay. 100K of us donating $10.99 per month yields over $13M/y. Give up a few latte's every month and make it happen.
 
By law I don’t think they can be required to sign contracts on the nil agreements, maybe it’s happening anyway, who knows?
 
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