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2022 OL Cameron Williams, Duncanville, TX Offered

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dudenate said:
NIL deals are still predicated on ‘fair market value’…even this new UT one.

So, if this new thing does get shut down (or approved), these o lineman have to provide $50K fair market value for this Texas non profit
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The non profit was created only to funnel money to the players. They will come up with opportunities for the players to cover the FMV of the deal.
 
Mackmiller974 said:
It's a little to late for Mario recruiting this year OL Class. All the Top guys are pretty much committed or likely to commit somewhere. We're going to have to sign 2 portal guys
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Missing on this year’s high school OLs won’t be felt for 3-4 yrs but I doubt that our OL centric coach will have trouble filling that need one way or another.
 
JayCane20 said:
Our only hope. We’d probably be better off without the stadium and starting a $500M non-profit that’s earning interest on the balance to run NIL through until it dries up.
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Anyone with their eyes open and that was realistic knew it would let us start offering something, but we wouldn’t be going toe to toe with the bag schools. This just legitimized what they were doing even more, whether through a 501c3 or not.

Having said that, I have done 501c3 tax consulting my whole career. I am very, very curious how they both try to organize AND operate these. You cannot just set a charity up for the UT OL or even UT football. That’s not a broad enough charitable class. Same reason you can’t set up a 501c3 for a specific person dealing with health issues. If they want to pull this off, they are also going to have to give a good amount to all the other athletes on campus. I don’t want to go more granular than that for everyone’s sanity and sake, but they still need to do everything like that or the IRS can get them in some trouble.
 
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RealRussellPumps said:
What's going to be funny is that after all of these linemen sign with UT and then the NCAA rules that this whole $150K per player deal can't happen because it's ridiculous and then none of them get what they went there for lol
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I read it was only $50k annually per UT NIL for oline, where is extra $100K coming from?

Go Canes
 
Dwinstitles said:
Mario might not get Cam but we will get some OL monsters soon enough.
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Not sold on the Sark regime in UT, especially when they move to the SEC. In the Big 12, it was them and OU that were outresourcing every other school, and even then, Texas was middle of the pack in that conference.

Now you have schools like LSU, Bama, and UGA that you're in conference with that have committed just as many, if not more resources.
 
From what I gather that non profit is calling it a scholarship.
So from the very poor accounting skills that I have I recall that scholarships are not taxable.
However, if they’re already on a full scholarship with room and board and books and likely a monthly living stipend, how is that not also considered income?

I remember my nephew got a full bright future scholarship at uf. He also had like 6 other scholarships he applied for and got paid like an extra 30k. I walked into his dorm one day and thought he had to be serving dope. Had whole gaming setup and 65 inch OLED.

But 50k a year??!!! Idk if Uncle Sam is just gonna say that’s not taxable.
Especially when other schools start copying it. Imagine all the major p5 schools having kids make 50-60k a year on top of their scholarships and saying it’s not taxable?
I don’t see this lasting too long.
 
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www.instagram.com

Hayes Fawcett on Instagram: "BREAKING: Four-Star OT Cameron Williams has Committed to Texas! The 6’7 360 OT from Duncanville, TX decommitted from Oregon last week and chose the Longhorns over Miami Texas is on track to build a really good 2022 OL C

12K likes, 313 comments - hayesfawcett3 on December 12, 2021: "BREAKING: Four-Star OT Cameron Williams has Committed to Texas! The 6’7 360 OT from Duncanville, TX decommitted from Oregon last week and chose the Longhorns over Miami Texas is on track to build a really good 2022 OL Class 🤘🏽".
www.instagram.com www.instagram.com
 
pacusmc said:
From what I gather that non profit is calling it a scholarship.
So from the very poor accounting skills that I have I recall that scholarships are not taxable.
However, if they’re already on a full scholarship with room and board and books and likely a monthly living stipend, how is that not also considered income?

I remember my nephew got a full bright future scholarship at uf. He also had like 6 other scholarships he applied for and got paid like an extra 30k. I walked into his dorm one day and thought he had to be serving dope. Had whole gaming setup and 65 inch OLED.

But 50k a year??!!! Idk if Uncle Sam is just gonna say that’s not taxable.
Especially when other schools start copying it. Imagine all the major p5 schools having kids make 50-60k a year on top of their scholarships and saying it’s not taxable?
I don’t see this lasting too long.
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For Texas OL, they get $150k per year
 
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AUcane said:
For Texas OL, they get $150k per year
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What? Ain’t no way in **** the irs is gonna let that sht go untaxed.
That’s at least 10 players so your talking about a non profit handing out over 1million a year to just one team for one position group.
No way
 
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