NCAA votes to allow Athlete Compensation.

[zagnut2012]

Oh boy...Here we go Pandora's Box is officially open.....

https://www.msn.com/en-us/sports/ncaafb/ncaa-board-votes-to-allow-athlete-compensation/ar-AAJvEP5?ocid=ientp

https://www.espn.com/college-sports/story/_/id/27957981/ncaa-votes-allow-athletes-profit-likeness

“The board is emphasizing that change must be consistent with the values of college sports and higher education and not turn student-athletes into employees of institutions,” said board chair Michael V. Drake.

[CB4]

"The NCAA Board of Governors has taken the first step toward allowing athletes to cash in on their fame. The board voted unanimously on Tuesday to clear the way for the amateur athletes to "benefit from the use of their name, image and likeness."

[Mr Vulture]

Let's not get too far ahead of ourselves. They voted to allow this but they also had a caveat that it had to fit within the college model. This tells me they are trying to figure out how to allow it with limits/controls.

[strikenowhere]

Maybe, just maybe, I'll finally be able to helm the Zags to the Natty in NCAA 2K 2021

[RenoZag]

Didn't take long for a member of Congress to weigh in on the NCAA's news; from Senator Richard Burr ( North Carolina ):

"If college athletes are going to make money off their likenesses while in school, their scholarships should be treated like income. I’ll be introducing legislation that subjects scholarships given to athletes who choose to “cash in” to income taxes."

https://twitter.com/SenatorBurr/status/1189262863552208896

[Hoopaholic]

Didn't take long for a member of Congress to weigh in on the NCAA's news; from Senator Richard Burr ( North Carolina ):

"If college athletes are going to make money off their likenesses while in school, their scholarships should be treated like income. I’ll be introducing legislation that subjects scholarships given to athletes who choose to “cash in” to income taxes."

https://twitter.com/SenatorBurr/stat...62863552208896

agree with this position I would also like to see a cap on salary for coaching positions

[Bouldin4Prez]

agree with this position I would also like to see a cap on salary for coaching positions

Such a lame position. They should be subject income taxes on whatever they make off their likeness, no one disagrees with that. But if a student athlete makes $1,000 signing autographs and memorabilia, they should pay taxes on a $60,000 scholarship? Come on, man.

[Mr Vulture]

Such a lame position. They should be subject income taxes on whatever they make off their likeness, no one disagrees with that. But if a student athlete makes $1,000 signing autographs and memorabilia, they should pay taxes on a $60,000 scholarship? Come on, man.

Why would a scholarship be taxable, that seems like quite a leap to me. Do they tax those on other scholarship types as income if they work outside of school?

Also, the poster above saying a "cap for coaching positions"...what does that have to do with this subject?

[tummydoc]

Agree, coaching salary is unrelated and a scholarship is not income to be taxed. What's wrong with a free market? It has been happening already under the table so let's just get it out in the open. I'd apply standard income tax to the student earnings. If only a few grand it's not much tax but large sums would be at a higher bracket. I really think this applies to a small fraction of student athletes. If Zion made 600k last year, would that have ruined the experience? Come on man!

[hooter73]

Personally Im not for paying student athletes, taking the position of that their scholarship is a form of payment and college athletics is an avenue to a good paycheck down the road if they can play Pro (NBA or overseas). The school using their likeness, so what? They are giving you the opportunity for an education and opportunity for a future career. If student athletes watn to be paid, then they should treat it like a business. To me, as a businessman, I wouldnt want to be the number one NBA pick and go to the worst team in the league.

[Hoopaholic]

Such a lame position. They should be subject income taxes on whatever they make off their likeness, no one disagrees with that. But if a student athlete makes $1,000 signing autographs and memorabilia, they should pay taxes on a $60,000 scholarship? Come on, man.

you can call my view lame all you want but I am comfortable with the position that if an individual is now going to a college to earn immediate income, instead of the primary reason of education that they have bypassed the intent of scholarship for education(in public setting that means tax payer dollars going to someone who is intent on getting education) and is now looking to be making a profit off the investment of a school, taxpayers etc so that scholarship should either be taxed or removed and given to someone else who is seeking the primary function of higher learning...education

i dont want my tax paying dollars to be funding a semi pro or "g league" type of entity.....

and where does this stop..do the PHD seeking researchers now get the money from their discoveries?

[CB4]

you can call my view lame all you want but I am comfortable with the position that if an individual is now going to a college to earn immediate income, instead of the primary reason of education that they have bypassed the intent of scholarship for education(in public setting that means tax payer dollars going to someone who is intent on getting education) and is now looking to be making a profit off the investment of a school, taxpayers etc so that scholarship should either be taxed or removed and given to someone else who is seeking the primary function of higher learning...education

i dont want my tax paying dollars to be funding a semi pro or "g league" type of entity.....

and where does this stop..do the PHD seeking researchers now get the money from their discoveries?

Academic scholarships aren't taxed. Regular students can profit from their NIL without losing their scholarship or without tax consequences (on the scholarship). But you want to tax athlete scholarships? Ok. For tennis? Soccer? Rowing, too?

Regardless of your idea it's never going to happen.

[Bouldin4Prez]

you can call my view lame all you want but I am comfortable with the position that if an individual is now going to a college to earn immediate income, instead of the primary reason of education that they have bypassed the intent of scholarship for education(in public setting that means tax payer dollars going to someone who is intent on getting education) and is now looking to be making a profit off the investment of a school, taxpayers etc so that scholarship should either be taxed or removed and given to someone else who is seeking the primary function of higher learning...education

i dont want my tax paying dollars to be funding a semi pro or "g league" type of entity.....

and where does this stop..do the PHD seeking researchers now get the money from their discoveries?

You're not upset about your money, you're upset that these kids are making money while in college. If you were truly upset about the money, you would be much more concerned with the $50 million dollar basketball facilities and football ops buildings going in than the kids paying income tax on a $50,000 scholarship.

[Hoopaholic]

You're not upset about your money, you're upset that these kids are making money while in college. If you were truly upset about the money, you would be much more concerned with the $50 million dollar basketball facilities and football ops buildings going in than the kids paying income tax on a $50,000 scholarship.

gee thanks for letting me know what I am upset about or where my values lie...glad I got that straightened out

yes dont like the public entities spending those kind of money on infrastructure leveraging tax dollars to do it and going into debt for it........but I am sure you will correct me and let me know what my "real" position is

[Hoopaholic]

Academic scholarships aren't taxed. Regular students can profit from their NIL without losing their scholarship or without tax consequences (on the scholarship). But you want to tax athlete scholarships? Ok. For tennis? Soccer? Rowing, too?

Regardless of your idea it's never going to happen.

correct as we stand today they are not taxed, because they are provided for one to engage in the educational opportunities of higher learning......opening up the opportunity to make profit while leveraging societies tax money for you to attend to make money is flat out wrong and once that door is open and you elect to go that route I think you should be taxed on the benefits provided that allowed you the opportunity to make a profit...take you r choice but cant have it both ways on tax payer dollars simply wrong in my book