Guess who's taking interest in NIL ...

[The Sicatoka]

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. 

[The Sicatoka]

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.