Recruiting Eddie Rojas (founder of Gator Collective) steps down

[Joegator96]

Are all these athletes considered 1099-Misc and taxed accordingly as independent contractors? Do you know the ins and outs of it? I mean, we now have a valuation chart we have to keep in mind when recruiting. Does the University get the write offs of hiring these independent contractors?

yes to 1099, no to write off as they are not employed by the university but possible for whoever issues NIL contract to the athlete. There are hundreds of links to the ins and outs of NIL, google it!

Laws for Name, Image, and Likeness Rights of College Athletes

While NCAA rules prohibit pay for play in college sports, a student-athlete can monetize their name, image, and likeness through licensing and endorsements.

www.justia.com

 

[oxrageous]

I always thought that if they are going to take NIL money, they shouldn't be getting a scholarship too - they could sign paperwork taking either one or the other - not both.

 

[Kevlo911]

But it's separate from the school, what if you don't get enough for tuition? Not everyone will get big deals. Shouldn't stop the 70 percent of players to get some extra money

 

[Kevlo911]

Scholarship vs money should be a debate if it's the schools money/revenue/tv money going to the players

 

[Detroitgator]

But it's separate from the school, what if you don't get enough for tuition? Not everyone will get big deals. Shouldn't stop the 70 percent of players to get some extra money

As an FYI, for regular students, scholarship money, whether from UF or outside, gets deposited to your UF account with Bursar's office, you don't get it yourself. Any funds leftover after paying for credit hours/fees is then sent to your personal bank account linked to your Bursar account. I call it the "chicken wing fund"

 

[GatorInKnox]

Guilty. My apologies.

But you should never trifle with a Sicilian when death is on the line.

You shut your mouth.

 

[MJMGator]

Well when you go on a drunk rant on a rivals board I would hope so

Details?

 

[MJMGator]

Scholarship vs money should be a debate if it's the schools money/revenue/tv money going to the players

Agreed

 

[Detroitgator]

As an FYI, for regular students, scholarship money, whether from UF or outside, gets deposited to your UF account with Bursar's office, you don't get it yourself. Any funds leftover after paying for credit hours/fees is then sent to your personal bank account linked to your Bursar account. I call it the "chicken wing fund"

Update: @Gator By Marriage is familiar with this process as well, but he calls his the "buying beers for Detroitgator fund"

 

[gingerlover]

Details?

From what was on Twitter. He went into a Miami group chat and just trashed the collective. It was recorded and then released by them.

 

[Double Gator Dad]

I’m confused. On the one hand, you say there should be caps; on the other you celebrate the free market. Which is it? Shouldn’t a free market mean no caps?

Agreed

I laughed out loud when I read J’s free market comment. There’s absolutely nothing about NCAA sports that represents a free market.

 

[Detroitgator]

I foresee a LOT of these players running into IRS problems... quickly.

 

[Double Gator Dad]

Should players pay for scholarships and all their meals and gear, etc.?

Interested to hear some thoughts on this now that they’re being paid openly

And shouldn’t they be paying for those luxury apartments they moved into last Fall?

 

[Double Gator Dad]

Are all these athletes considered 1099-Misc and taxed accordingly as independent contractors? Do you know the ins and outs of it? I mean, we now have a valuation chart we have to keep in mind when recruiting. Does the University get the write offs of hiring these independent contractors?

And when a high dollar player washes out can the athletics program take a tax deduction for a loss on an investment?

 

[Double Gator Dad]

I foresee a LOT of these players running into IRS problems... quickly.

And then a legion of defenders will appear to convince everyone that somehow the tax problems are the fault of the university.
This is how we got to this point.

 

[GatorJ]

I’m confused. On the one hand, you say there should be caps; on the other you celebrate the free market. Which is it? Shouldn’t a free market mean no caps?

You can have both. Look at every major sports market. A market can set their own rules.

 

[GatorJ]

I always thought that if they are going to take NIL money, they shouldn't be getting a scholarship too - they could sign paperwork taking either one or the other - not both.

That’s a good point. It’s a university so only make scholarships academic.

 

[Detroitgator]

That’s a good point. It’s a university so only make scholarships academic.

And I think you might be mixing things here... are the athletic scholarships actually "UF" scholarships, or are they "UAA" (or whatever) scholarships to UF? I don't know, but they are very different, but related, things.

 

[Joegator96]

I always thought that if they are going to take NIL money, they shouldn't be getting a scholarship too - they could sign paperwork taking either one or the other - not both.

I agree, possibly the easiest way to effectuate something like that would be to have the NIL sponsors, claw funds back to reimburse the schools for the expenses. Not sure how that would tilt in the anti-trust litigation to follow. So much to learn for everyone over the next few cycles.

Did you see the NCAA just approved emergency add of 14 official visits due to the volume of players in the portal. That is good news for UF if BN continues to follow his due diligent approach to recruiting.

 

[soflagator]

I foresee a LOT of these players running into IRS problems... quickly.

Oh they’re gonna be fine.