Final thoughts from Adam W

[littlereg]

If he doesn’t believe the collective is allocating the money correctly and ran properly then why would he be throwing money at it?

So I’ve thought about this in my head a little bit not just involving our situation, but others as well. Do you think there’s guys out there who want to be donors, or who already are that don’t want any of their money going the school itself, but directly to the players, etc.

 

[Orangezoo]

If Adam wants to help he could hire someone to manage a NIL co-op to his liking.
I agree that the 315 collective doesn't seem like the right way to complete, they have a long term goal to build an endowment. We need players now, not 20 years from now.
The 315 collective has 7 twitter followers, the world is not beating a path to their door.

There are 4 or 5 doors to walk through and I say that from a completely neutral stance. Clearly there is opportunity for improvement in obtaining funding at the existing collectives like we have discussed around subscriptions etc. It seems their operations could arguably be improved as well. There are ways to move the needle here towards finding a resolution for anyone who desires to participate but is hesitant due to the very fair concerns.

 

[Day2]

If he doesn’t believe the collective is allocating the money correctly and ran properly then why would he be throwing money at it?

That’s nothing more than an excuse.

 

[two3zone]

That’s nothing more than an excuse.

I don’t believe that.

 

[bozophobe]

Talked to Adam and he's awesome! Everything else to me is irrelevant as I get the feeling he's a good man and a supportive person. That's just my humble, simple approach to it and you don't have to agree. But you can agree

Workin' for NCAA

 

[FloridaCuse]

Which is exactly the reason I pointed out assistance via private grants that any NIL collective could apply for with requirements that go with the grant money both pre requisites and ongoing such that funding is only released upon those requirements being fulfilled. It is very common and works very well in the non profit world. It also can drive the non profits seeking this funding to improve their own organizations to be better stewards of their money. It's a win win.

I mentioned in a separate thread but this is why I am personally very curious of our NIL collectives first 990 filing( tax filing for 510c3) for 2022.

I want to add this is by no means criticism whatsoever of anyone. Just simply some things to think about similar to what others have expressed.

The correct reference to the tax filing is for a 501(c)(3) organization, contributions to which are tax deductible. I see that the 315 Foundation is set up as such a 501(c)(3) organizations because they do their work in support of charities. So in exchange for their payments to players for NIL the player would have to do work on behalf of a charitable organization. Are all NIL collectives set up as 501(c)(3) organizations? There may be other ways for they can be tax-exempt without contributions being deductible.

 

[kidorange]

People are great at spending other people's money. Definitely don't agree with much of what Adam has done (to say the least) but I do understand that it's his money. If he can't spend it the way he wants, he's not going to spend it.

 

[Cusefan69]

People who have questions should call him. AW knew how this thread was going to go when he made it. Some of the "sheeple " responses in here are cringe to say the least.

 

[bnoro]

Creating this thread to continue to control the narrative. "It was never my intention" lol

 

[djorange1989]

People are great at spending other people's money. Definitely don't agree with much of what Adam has done (to say the least) but I do understand that it's his money. If he can't spend it the way he wants, he's not going to spend it.

Yes that is true but every other NIL out there minus Ruiz stays under the radar, it’s not like Adam is doing what everyone else is doing, at least to my knowledge

 

[FrancoPizza]

Translation - I don’t get any attention if I just donate to the collectives. That doesn’t help me.

So what? It’s just attention. Let him have what he needs. I’d roll out the red carpet for Bruce Wayne flying in to the games with a pair of celebrities on each arm. Fans would love it. Players would love it.

People just love to manufacture problems that don’t exist.

 

[315Cuse]

 

[PauliePeppas]

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Hope u can sit down with SU leadership to hash it all out

 

[Orangezoo]

The correct reference to the tax filing is for a 501(c)(3) organization, contributions to which are tax deductible. I see that the 315 Foundation is set up as such a 501(c)(3) organizations because they do their work in support of charities. So in exchange for their payments to players for NIL the player would have to do work on behalf of a charitable organization. Are all NIL collectives set up as 501(c)(3) organizations? There may be other ways for they can be tax-exempt without contributions being deductible.

Yes.. you added a couple parenthesis which is accurate - it doesn't change anything.
20 yrs of experience here so drop the condescending crap. I mentioned it because the 315 is setup as a non profit.

There absolutely is other ways to do it. The model they are using is that of being an intermediary. It does not change the concept of a private grant being a plausible avenue. I mentioned the 990 because that tax filing would showcase how direct contributions are being used.. at a high level, including if there is officer compensation the money is used for in addition to operating expenses. It's how many non profits are evaluated by organizations looking to contribute. Since they are all new it appears no filings have been made yet( very normal).

Your post is odd to be honest. Are you not familiar with how grants work or how intermediaries work? You can have both direct and then affiliate related use of funds. In this case it appears there is both from what I have read.

 

[FireballPhil]

Adam,

I would also like to take the time to thank you for taking the time to come on the forum and express your story. Like you, I did not attend SU but rather have an attachment to the school from growing up in the are (lived in Colosse-graduated from Mexico in 1986). The 1987 title game for me cemented this for me as I was in the Marine Corps at the time and sports was one thing that drew us together closer as a unit, allowing people from all parts of the country to come together with a common agenda, rooting for our hometown teams to win. I caught a lot of good-natured flack that night, but the common rooting brought us closer together. Even today, living in Iowa, I am sometimes seen as an east coast guy living in the land of the big 10/12. And if I am honest, I am proud to be the guy who stands up and defends the team here in the land of what they all deem as the giants.

I say this to say I can see things more easily from your point of view than those who attended SU and have a different view, a different attachment. I see you as a business owner who is also proud of standing up and defending your hometown team. You have the means to help the teams succeed and are willing to do it. As a businessman however you also want to use your investment to what you deem as important. You are essentially hiring these kids. Whether that job is advertising for your company, working at your favorite charity, or any other number of possible jobs, they should be performing the work at your direction just like any other employee. Although you could contribute to one of the collectives, you wouldn't be able to control where that money goes and would lose that self-satisfaction that comes from the intimacy of seeing what things are close to your heart improve while giving to a student and improving their way of life.

From one fan to another, as others have stated, I would encourage you to look for common ground. NIL is still in it's infancy. SU is still dancing around NCAA compliance, trying to navigate through the muddy waters of what has been and will continue to be an evolving landscape. I personally enjoy the fact that you bring the celebrities to the dome, and believe if you were to donate to a collective you could still say "look at what I am helping to succeed". The fans get a kick out of it, and even potential recruits could hear more positives about the school. They could get excited that if they attended they could possibly meet some high profile people. You would still have a vested interest in the teams. Maybe you could even join the board of the collective. After all, they say money talks and ...

One final thought, and that is that we not lose sight of the fact that we as fans are in fact our own team. Sure some are better off financially and can do a lot more in ways of support, but we all love to follow SU sports for our own unique reasons. The bond of that love though creates this team of fans that is passionate and simply want the best of what can be. No one should ever be kicked off or out of this team because of a different viewpoint or wanting a different direction as long as those roads lead to the betterment of the sports. I don't know you, and I don't know 99.9% of the people of this board personally, and I know I never will, but we all have a connection on a different level that brings us all back here to this forum. So Adam, thanks for all you have done, and I look forward to see what the future brings to the small world of SU sports.

 

[NYCCuse826]

Hope u can sit down with SU leadership to hash it all out

I think that boat has sailed given what was put in the public arena.

 

[Nicknack]

I was going to respond last night, but got too intoxicated. I started drinking IPAs on the front nine. That usually does it. So anyway, I saved it for today...

Adam, as many others have already expressed, I'm happy that you posted your thoughts and perspective on things. I very much respect that as well as posting your number. I might even take you up on your offer to have a quick chat.

A few random thoughts of my own...

- If I had the kind of cash that Adam has and wanted to use it for NIL, I don't think I would want to just hand it over to a collective either. I would want more control over how it's spent. When you give the kind of dollars that he's willing to contribute, you earn that right. My twenty bucks doesn't earn me that right.

- I really hope that Adam can work things out with the University. I think though, it will take both sides willing to work with each other. It seems to me that someone (maybe Boeheim himself) could get these two gentlemen together. For this not to happen would not only be disappointing, but short sighted. It just makes zero sense not to come to together and have a discussion as it would benefit everyone involved if things were worked out.

- As for bringing celebs to games... this has gotten overplayed a lot by some who say that this doesn't help in any way. I don't think anyone knows for sure whether it helps - how exactly is this measured? Adam obviously knows that bringing a celeb to a game doesn't put more points on the board, but what it does do is it creates a buzz. It's fun to see someone like Tom Brady or Jimmy Fallon in the dome. Not sure why people would take exception to this - strange if you ask me. If you don't care about a celeb being there, fine. No biggie. However, to make a fuss because Adam want to do this is weird.

 

[FloridaCuse]

Yes.. you added a couple parenthesis which is accurate - it doesn't change anything.
20 yrs of experience here so drop the condescending crap. I mentioned it because the 315 is setup as a non profit.

There absolutely is other ways to do it. The model they are using is that of being an intermediary. It does not change the concept of a private grant being a plausible avenue. I mentioned the 990 because that tax filing would showcase how direct contributions are being used.. at a high level, including if there is officer compensation the money is used for in addition to operating expenses. It's how many non profits are evaluated by organizations looking to contribute. Since they are all new it appears no filings have been made yet( very normal).

Your post is odd to be honest. Are you not familiar with how grants work or how intermediaries work? You can have both direct and then affiliate related use of funds. In this case it appears there is both from what I have read.

You said 510c3 in your original post. Not 501c3. I added the rest because I did not know if all other collectives are being set up as charitable organizations.

 

[GooseMutt]

Just wanted to clear up a couple of things I have seen posted incorrectly on this site. Don’t want to take up anybody’s time, but just want to set it straight this one time.

1) I have never once said anything negative about the Chancellor or the University.

2) I never considered myself the leader of NIL at Syracuse. I was just trying to help out, as I really love the kids and the coaches.

3) I understand my high profile way of going about it might have rubbed people the wrong way, but that was never my intention.

4) I don’t think Syracuse is 100% to blame for what is happening with the NIL. I just think they were a little late in realizing how fast this change in college sports would be implemented.

5) I think Syracuse is underfunded on the NIL front, because no one thought a player that once would receive $50,000 would now earn $500,000 just 12 months later.

6) I agree that celebrities that come to the games do not help the team earn any victories or help impact the recruiting process but I do feel it added an extra value experience to the game when ticket prices have reached at all time high.

7) I understand that Chancellor Kent, like it or not, has a different view that I do regarding college athletics as a whole and he personally doesn’t want me to be involved in the program. I do understand he is the boss and makes the final decisions so I respectfully bowed out.

I will always support the team and coach Autry and wish the them only the best. Here is my personal cell if anyone has any opinions good or bad. Hate on me or not I respect all voices. I can be reached at 607.760.8204

Adam Weitsman

Well said. Very articulate and fair comments but we the fans want you involved

 

[Orangezoo]

You said 510c3 in your original post. Not 501c3. I added the rest because I did not know if all other collectives are being set up as charitable organizations.

Ok so all that over a typo.. got it. Its fixed. Let me clear the last part doesn't really matter for what I was getting at other than for reviewing tax filings. The grant stuff isn't explicit to a 501c3 applying but instead having more control and oversight regarding use and distribution cadence of funds.

 

[samspann1]

View attachment 227298

"That will my last comment on NIL or Cuse athletics in the future on any medium so everything can go on like it did before i got involved"

 

[sufandu]

He wants ROI, if that concept is hard for people, they shouldn't be in the discussion

That makes sense and it's actually how NIL was intended to be used. The problem we'll have with our competition is that they have big time donors that see success of their teams as all the ROI they need and care about. They see it like high rollers going to the casino that get their fun by throwing money away.