Initially the collectives were approved by the IRS for charitable donations, but they issued a second opinion rescinding that. Maybe there is a third opinion? Either way, I think its silly and pissing money away. I will not donate a penny to a college athlete on a full ride with all the perks, bells and whistles while so many other students are laden with debt and some cant even afford college.
I am by no means a tax expert (speaking of I should probably file my taxes this week….).
Our collective will start to catch up when donors to all of the other collectives are in jail for tax fraud and only making nine cents an hour.I am by no means a tax expert (speaking of I should probably file my taxes this week….).
It’s just interesting to see collectives such as The Hokie Way claim to be tax exempt.
Regardless, I hope our NIL efforts are up to par with our competitors in the space. Local advertisers as starting to buy in and that will certainly help as well. Go Rams
If you classify “ competitors” as the top 50 or so programs I would think we are sorely lacking
We have absolutely no way of knowing that, but they have a football team to fund as well. That is a lot of extra mouths to feed even at the level they play at.
Is the collective our only source of NIL money? We've got guys doing commercial spots on TV and radio, is that going through the collective?
Confident it is not - that is likely going through the INFLCR:
www.inflcr.com
Those spots do not come through the portal. The TV spots that I work on with NIL goes through Opendorse (similar to the INFLCR listed above). They are a 3rd party that handles player contact and negotiations. From the deals I have worked on and am privy to, the collectives are where the bigger checks are coming from and the local/regional TV and radio spots are smaller (they def add up quick and move the needle).
Is it possible to just contact an athlete and work out your own deal b/w the company and the athlete?
I would assume so?
That is what I would think. But I read that the Bam appearance at Planet Fitness was brokered by Learfield. I have a friend who is a JMU bball walk on. He gets no scholarship money and the family is struggling to put him thru school. I was going to throw a little NIL love his way to help him out. So I hopped on the JMU site and it says all deals have to go thru their collective and collective will decide which athlete will be your spokesperson. They also claim to be tax deductible.
I suppose you could request to work with the person in question/make the contribution conditional on having him do NIL spots for your company.
