Just Getting Even More Ridiculous | Syracusefan.com

Just Getting Even More Ridiculous

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Cappy3

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Now former UCLA player Amari Bailey, who actually played in the NBA, is suing to return to college for what he claims should be his senior year. Anyone want to bet that he won’t be able to find some halfwit judge who’ll grant him a tro?
 
Let’s be real, D1 college basketball is just minor league professional basketball. It’s not surprising former NBA players with eligibility remaining but couldn’t stick at the NBA want to drop down to the minors. Heck, they get paid a heck of a lot more than G league or overseas.
 
OrlandoCuse said:
Let’s be real, D1 college basketball is just minor league professional basketball. It’s not surprising former NBA players with eligibility remaining but couldn’t stick at the NBA want to drop down to the minors. Heck, they get paid a heck of a lot more than G league or overseas.
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It's evidence that the "market" in college sports is so artificial. Where else can you get demoted or passed over for a promotion and get a pay raise?
 
JaySU22 said:
I don’t get why there are so many rich boosters everywhere cutting massive checks left and right when in many cases it doesn’t lead to their teams winning anyway.
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Income divide - lot of money at the top that folks can waste. The average person couldn’t dream of the ability to waste money in such a fashion.

Then again Rutgers is running a massive deficit so some of it is just pure stupidity.
 
sufandu said:
It's evidence that the "market" in college sports is so artificial. Where else can you get demoted or passed over for a promotion and get a pay raise?
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I would argue it's evidence of the NBA collusion to keep G league salaries down.

A G league player is only there because he's hoping he can get to the NBA eventually. He's always been able to get more money in Europe and with NIL, in college the last few years.

They're paying G league players in hopes not money.
 
JaySU22 said:
I don’t get why there are so many rich boosters everywhere cutting massive checks left and right when in many cases it doesn’t lead to their teams winning anyway.
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I would be shocked if this model is sustainable. It's not a smart business decision and the ROI is terrible. Unless they are booking it as an expense to make it more tax friendly, something the average Joe can't do. But, how would it pass an IRS audit. There has to be a loophole.
 
cliftonparksufan said:
I would be shocked if this model is sustainable. It's not a smart business decision and the ROI is terrible. Unless they are booking it as an expense to make it more tax friendly, something the average Joe can't do. But, how would it pass an IRS audit. There has to be a loophole.
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I think you can create a charity, donate your money to the charity for a tax deductible domain. Then you have the charity "hire" your athletes of choice to promote the charity, which they don't bother doing.

Not having millions of spare dollars to donate to NIL, I haven't researched it completely. But I think this is a mechanism.
 
Niastri said:
I think you can create a charity, donate your money to the charity for a tax deductible domain. Then you have the charity "hire" your athletes of choice to promote the charity, which they don't bother doing.

Not having millions of spare dollars to donate to NIL, I haven't researched it completely. But I think this is a mechanism.
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I guess initially the IRS awarded 503(c)(3) status to these collectives, which supposedly they stopped doing, since there is no real charity work involved, which initially that was the idea of NIL.

And, the IRS is not the NCAA, so if they want to go after someone, they will. Or if the want to go after the collectives, they will. As I said, how much of the collectives money is going for charity and not being paid directly to players.

The IRS is definitely the wildcard in NIL. We know the NCAA won't regulate it, but the IRS can blow the whole thing up.

If I "donated" $5 million to one of these collective charities, I would be worried. Especially if you were donating it out of your own Foundation.
 
Good. Let it happen. Let’s get old man Kevin Durant to come to Cuse once he wants to retire. Get Bron as well.

We’ll be the “retirement community” college for old head nba superstars.

Get Melo back next year. Let’s go.
 
cliftonparksufan said:
I guess initially the IRS awarded 503(c)(3) status to these collectives, which supposedly they stopped doing, since there is no real charity work involved, which initially that was the idea of NIL.

And, the IRS is not the NCAA, so if they want to go after someone, they will. Or if the want to go after the collectives, they will. As I said, how much of the collectives money is going for charity and not being paid directly to players.

The IRS is definitely the wildcard in NIL. We know the NCAA won't regulate it, but the IRS can blow the whole thing up.

If I "donated" $5 million to one of these collective charities, I would be worried. Especially if you were donating it out of your own Foundation.
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The collectives aren't deductible. But if I were to have, say, a billion extra dollars, I could donate that billion to the Niastri Foundation.

I would get a billion dollar deduction to my taxes. Considering the tax benefits such rich people already get, that probably reduces me to zero taxes paid in any given year.

Legally, if you are still in control of such a foundation, the funds have to be distributed to genuine charitable organizations or charitable works at the rate of 5%.

That $1 billion is going to earn you $50 to $80 to $100 million annually depending on how it's invested in the foundations accounts. Because you've donated $1 billion you're obligated to use 50 million on charitable things, you can find charities you actually want to donate money to. But if you're getting a 7.5 % rate of return on the billion dollars, that still leaves you 25 million to spend on representatives of your charity, like athletes, that you want to support. Ie, your favorite college sports team. (You also can use the charitable foundation to give no show jobs to your mistresses and cronies and pay them to hang around.) Even better, you can pay yourself a salary to run the thing, as long as it's in line with other leaders of similar organizations. Ever wonder why CEO and board of Directors salaries have increased so much, it's because people like to hire themselves for many millions of dollars a year to run the organization that manages their own money.

Now, you're still in control of your initial billion dollars you've got a huge billion dollar tax deduction, you actually might do some good with the 50 million you donate various charities or charitable works you find directly, and you were able to funnel money to your favorite basketball or football programs.

I'm not a tax lawyer or an accountant. My expertise lies on the investment side... but I'm pretty sure that works under current law.

As for comment about the IRS, There is no incentive whatsoever to go after the wealthy class no matter what they're doing illegally regarding their taxes. And with the recent defunding of the IRS, there's no way they can actually make anything stick.

What it comes down to is a billionaire can steal $1 billion in taxes and then IRS comes after him, he pays a $20 million fine. That is a very nice rate of return for the tax evader. Until we put the super Rich in jail for tax evasion, there's no incentive to pay taxes. Fines are just the cost of doing business. additionally, Billionaires have lawyers that are way better than the guys trying to enforce the laws. So the IRS gets a $20 million settlement on a $1 billion tax bill and chalks it up as a win. And the billionaire laughs all the way to the bank...

But only after giving a press conference about how unfairly he's been treated.
 
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Archbold44 said:
Sounds good, unless he wants to be player/coach. Take that Ken Griffey!
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Hire GMAC to be "associate head coach" with Carmelo Anthony as a player/head coach... sounds like fun.

I bet Anthony could still put up 25 a game in the NCAA. And his subpar NBA defense will probably be really good in the ACC. How long has he been retired?
 
I only find Donnie Freeman on one NBA draft board...CBS ... nowhere to be found on several others, including ESPN top 100...he is destined for the G-league at current skill level well below NIL $. Get a new coach and pay Freeman for one more year...put 15 pounds and some muscle on and teach him that he is a 6-9 power forward not a 6-2 fall-away shooting guard...build the team around him with some real 3-point shooters and find a center who can shoot away from the basket.
 

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