The Sicatoka Posted March 16, 2023 Share Posted March 16, 2023 The US House Energy and Commerce Committee announces a subcommittee hearing on Name, Image, and Likeness (NIL) DATE: Wednesday, March 29, 2023 https://energycommerce.house.gov/posts/chairs-rodgers-bilirakis-announce-hearing-on-protecting-nil-rights-for-college-athletes Who know what'll come of it, but interesting just the same. Quote Link to comment Share on other sites More sharing options...
The Sicatoka Posted August 10, 2023 Author Share Posted August 10, 2023 Now the IRS is interested: https://www.espn.com/espn/story/_/id/38163983/texas-12th-man+-fund-discontinuing-nil-operation Quote "The foundation that supports Texas A&M athletics announced Wednesday it is closing the branch set up for donors to support endorsement deals for Aggies athletes, an effort that has pushed the boundaries of how closely a school's traditional fundraising and booster groups could get involved in payments to players. The 12th Man Foundation said it will still engage in name, image and likeness activities with Aggies athletes using "unrestricted donations." But it noted "external advisers" recommended shutting down the 12th Man+ Fund, which had just been launched in February. The foundation cited a June memo from the Internal Revenue Service that said nonprofit "collectives" that were created primarily to pay players are likely not exempt from taxes, meaning donations would likely not be tax deductible. Charity organization experts have noted the IRS memo could upend a rapidly growing market of collectives that have become a primary source of NIL deals for athletes. If donations to athletics-specific collectives are not tax deductible, experts have warned that money could dry up...." Chaves' Alston approach looks better by comparison right now. Quote Link to comment Share on other sites More sharing options...
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