Fake news.
Tesla doesn’t make minivans. 
10 Likes
Here’s a sub post with more info: Indeed they are. Covered 100% by NIL. Come check it out: (cougarboard.com)
Looks like CougConnect sets players up with Teslas, connects them with a lendor, they explain how financing works, then the NIL money goes toward the Tesla payments.
No idea how widely it they use this lure, but seems like they may be using it selectively to get players who otherwise would have no interest in going to BYU.
Piecing things together, the Connect guy was particularly bent that CB whiners were mocking that the Adams kid took the Tesla and transferred out presumably to some other NIL deal elsewhere. There also seems to be fairly broad irritation at the CougConnect ads on CB, which is understandable. NIL is irritating for many.
Elevating 20,000 feet, we fans have always evaluated Ws-Ls, coaching charisma, player development and school reputation as ways to understand how recruiting goes.
The NIL layer is new & mostly opaque at the individual level… but it’s a competitive landscape.
3 Likes
Yeah, I have pretty limited funds, and any extra I have is going toward things like the foodbank/emergency-pantries, or academic scholarships and things of that sort. Paying kids large sums of money to play in a semi-pro league is not something I want to support financially beyond buying a ticket or two. I was happy to support the “college” side of college athletics, but this is a bridge too far for me.
9 Likes
Do they know they need to pay income tax on the value of the Tesla?
2 Likes
Me three, seats 15,16 mid field. We won’t buy lessor seats, we’ll just stop attending period. TV dictated game times plus 4 minutes commercial breaks everytime a player reaches for some poweraide ruins the live experience.
If the NCAA wanted to they could control the NIL. Allow players to make a certain amount for jerseys that sell that have their names & a reasonable charge for autographs—what ever they charge at FanX etc. Endorsements if the player really does ads & the ads run & they list their appearances etc.
But does the NCAA want to rock the boat when the big guns can pay more & get the best players & the TV ratings go up etc.
Plus it would take work to police.
So the short answer is they won’t.
1 Like
I would guess they have to on the value received, unless they structure the “sale” in a way that avoids it. Not sure if you can “wordsmith” it, but there probably is a legal way to do it without it being taxable NEC.
1 Like
I’m no tax expert, but I don’t know of any way they could structure it so it is non-taxable.
2 Likes
…not to mention self-employment tax.
1 Like
They could “gross it up” so the player was reimbursed for the tax liability.
3 Likes
That would also become taxable income
Keeping the numbers in simple terms, let’s say the value (taxable amount) is $1000. And let’s say that the tax rate is 10%. So, they would get $100 to cover the tax on the $1000, then they would get $10 to cover the tax on the $100, and then get $1 to cover the tax on the $10. So they would receive $111 to cover the tax liability. The experts on “grossing up” can correct me if I’m wrong, but I think this is how it works.
3 Likes
That is how it works, but the entire amount received $1,111.00 is income, subject to income tax.
Right. And the university is paying the $111 tax.
1 Like
Well, the Collective, but point taken
2 Likes