Jordan Addison to the portal

[TheOriginalCane]

For some reason, I fully imagine that he referred to himself in 3rd person as “Tha Narduzzi” for the whole conversation...

I know he didn’t, but it would hilarious if he did & quite honestly he should have.

 

[TheOriginalCane]

10 to 12% is a big fūcking bite of your income. Somebody getting 1 million is paying about $120,000 extra in taxes. That’s not nothing.

Agreed. I'm not saying it's "nothing". Unless he picks a school in FL, TX, TN, or WA, he is likely to pay SOMETHING in state taxes, even if it's not $120K.

 

[TheOriginalCane]

Said it before and Ill say it again the way the rules or lack are structured and how these kids transfer high schools every season, it wont be long before a savvy south florida mercenary type says **** it and enters transfer portal every year for a signing bonus bag.. Its only right.. Gonna take the right type of super talent but it would make such a mockery of system. Enter college early, have in mind to graduate early, get early PT at first school, transfer get another bag, graduate and enter portal again, Its coming.

You get one free transfer. After that, you have to sit out a year every time you transfer.

 

[supacane]

NIL should not be governed. The NCAA, conferences and Universities get huge money from tv deals. The players get none of that. This is their name image and likeness. Why should that be governed when you have teenagers in other sports like Tennis making way more. If they wanna regulate, the players need to sign contracts and get paid from the tv money, then they can also gain the image rights of the players and restrict random transfers.

I don't wanna here **** about its not the NFL and all that bull****. College football is inbalanced, its always been inbalanced and will always be that way. They have made millions off the backs of players who have died, been paralyzed on those fields for your precious sport without compensation. And its just such a microcosm of american society where mostly white millionaire dudes like Dabo, making 8 mill or whatever are here, are so against it with their hypocrasy. And when people challenge him on it. He claims its free market. The coaches are less valuable to football than the players, yet they are the ones raking in the money. I hope it goes on just the way it is.....or pay the players out of the tv money. If they try to put restrictions on laws, instant law suit, they will lose.

 

[TheOriginalCane]

What’s sucks is if he goes to USC they get the credit for him being a first rounder not Pitt.

My buddy also brought up an interesting point last night. He said he’s wondering if schools that tend to get poached more often will start putting clauses in the scholarship that if recruit transfers before certain point they would have to pay back the school.

I know service academies have something similar to this I believe

Service academies are actually "the federal government". And the deal with admission to a service academy (which is free to all, not just the athletes) is that you have to serve for a certain number of years in that branch of the military.

So there are valid reasons for the service academy "payback" that I think are not applicable to college athletics.

 

[TheOriginalCane]

A likely story

No doubt, USC fans/boosters probably circulated the "2M plus a house" to scare everyone off, same as Warchant saying that Mims had picked F$U.

 

[Hurracanes]

Everyone is calling this NIL stuff the wild Wild West and screaming regulations (wtf that means) but what many people aren’t realizing or forgetting is that regulating the law will only mean the top schools will provide under the table incentives like it was before.

The NIL has only brought the money to the surface. Nothing will change. The big schools will still get their kids illegally. There is a reason why the Saban’s, Jimbo’s, Dabo’s of the world don’t like this law.

 

[TheOriginalCane]

Last thing we need is for the most corrupt people in our nation (Congress) to get involved in this.

 

[CaneTheGaytors]

This mfer says Saban hates nil and that he “warned us” because he said “if this is what you want that this is what you’re gonna get” and he’s gonna be able to outspend everybody.

LOL that the school that literally has been paying people for years to go there is now warning everyone that they’re going to be able to pay people more than everyone.

But he doesn’t mention the fact that the reason people are wanting to pay more for kids to go to their school is because Bama has been paying kids illegaly to go there and so have the front runners.

The fact of the matter is they created this problem and schools that spend money on athletic facilities are upset that while they were trying hard to spend money on coaches, facilities and recruiting budgets, it didn’t matter because Alabama Georgia Ohio State and the rest of the front runners were paying the kids directly on top of what they spent on facilities. It seems like all the front runner schools were using facilities and coaches as an excuse to counter the bag game accusations.

In other words, why wouldn’t a kid want to come up here? look what we’re spending on coaches look what we’re spending on facilities. Just like Jimbo did when he was questioned about his recruiting class and he flew off the handle. He knows that they had to pay for that class.

Yeah right!! what he should’ve said was “nick Saban is warning you guys that he has been able to and will continue to pay more than you can”

I said it in another thread. Sabag is the devil. He’s a hypocrite.

Baga “collective” is giving huge NIL deals, too, and still paying players the bag under the table.

He’s crying because he knows that now his domination of the sport is done. He’s not gonna get the great majority of the talent anymore. Baga will still land plenty of players, but they won’t land as many top tier guys as they used to. NIL has changed the way the recruiting game is played.

 

[SinisterCane]

I want all the players to get as much $$$$ as they can

 

[TheOriginalCane]

This mfer says Saban hates nil and that he “warned us” because he said “if this is what you want that this is what you’re gonna get” and he’s gonna be able to outspend everybody.

LOL that the school that literally has been paying people for years to go there is now warning everyone that they’re going to be able to pay people more than everyone.

But he doesn’t mention the fact that the reason people are wanting to pay more for kids to go to their school is because Bama has been paying kids illegaly to go there and so have the front runners.

The fact of the matter is they created this problem and schools that spend money on athletic facilities are upset that while they were trying hard to spend money on coaches, facilities and recruiting budgets, it didn’t matter because Alabama Georgia Ohio State and the rest of the front runners were paying the kids directly on top of what they spent on facilities. It seems like all the front runner schools were using facilities and coaches as an excuse to counter the bag game accusations.

In other words, why wouldn’t a kid want to come up here? look what we’re spending on coaches look what we’re spending on facilities. Just like Jimbo did when he was questioned about his recruiting class and he flew off the handle. He knows that they had to pay for that class.

Yeah right!! what he should’ve said was “nick Saban is warning you guys that he has been able to and will continue to pay more than you can”

Saban shoots you with a gun. As you are bleeding out, someone tosses you a guy to defend yourself. Saban blasts you five more times, and then says "see, I warned you not to play with guns".

Seems reasonable. Definitely accurate.

 

[TriStarCane]

I seem to be in the minority here of liking the concept of NIL, but not the current execution. I’m Not so much interested in how much or who can be paid, but when. I like NIL. I like the portal. I like recruiting. The cross-section of these three things is ****ed up. Don’t know what the solution is, but enticing kids to transfer specifically because of NIL sucks to me. I’m not talking about player X goes into the portal and NIL is an opportunity for him - I’m talking about he goes into the portal to go to a certain school due to dollars as the case with Addisson. They probably can’t fix that. At the least, give a more specific transfer window like soccer or something.

 

[AlexCane]

I seem to be in the minority here of liking the concept of NIL, but not the current execution. I’m Not so much interested in how much or who can be paid, but when. I like NIL. I like the portal. I like recruiting. The cross-section of these three things is ****ed up. Don’t know what the solution is, but enticing kids to transfer specically because of NIL sucks to me. I’m not talking about player X goes into the portal and NIL is an opportunity for him - I’m talking about he goes into the portal to go to a certain school due to dollars as the case with Addisson. They probably can’t fix that. At the least, give a more specific transfer window like soccer or something.

I'm with you. It's made for good entertainment, but it's a little much at this point. I think as time goes on, rules will be put in place to refine the chaos.

 

[Memnon]

I want all the players to get as much $$$$ as they can

There should be no other way...

Nobody has a problem with people making as much money as they can in every other sector of life, but all of the sudden once it’s time for some athletes to get paid everybody turns into Karl Marx overnight lol

In the words of Gordon Gekko:

 

[CorniceCane]

False. Most of the taxes he owes are federal, whether he goes to USC or Miami.

I'm not saying we don't want him at UM, but the CA state income tax rate will be somewhere between 10 to 12 percent, depending on the timing and structure of the comp.

And he can only deduct $10k of that SALT tax. If it’s $1MM/year, that’s a $90k difference of money kept between being here vs. USCw assuming a 10% state tax. $180k on $2MM difference (and probably more). The dollar stretched far more here than out west.

 

[stormsurge]

If coaches' salaries are not controlled then why should NIL deals be?

 

[kccanefan]

NIL should not be governed. The NCAA, conferences and Universities get huge money from tv deals. The players get none of that. This is their name image and likeness. Why should that be governed when you have teenagers in other sports like Tennis making way more. If they wanna regulate, the players need to sign contracts and get paid from the tv money, then they can also gain the image rights of the players and restrict random transfers.

I don't wanna here **** about its not the NFL and all that bull****. College football is inbalanced, its always been inbalanced and will always be that way. They have made millions off the backs of players who have died, been paralyzed on those fields for your precious sport without compensation. And its just such a microcosm of american society where mostly white millionaire dudes like Dabo, making 8 mill or whatever are here, are so against it with their hypocrasy. And when people challenge him on it. He claims its free market. The coaches are less valuable to football than the players, yet they are the ones raking in the money. I hope it goes on just the way it is.....or pay the players out of the tv money. If they try to put restrictions on laws, instant law suit, they will lose.

That's a very short sited and racist outlook. There's rich black coaches and also white players involved with NIL as well. There's no reason to bring race into the argument. It's unnecessary and it's a flawed narrative this generation of wanting instant reward without hard work wants to push. You do realized most of these coaches didn't start off making millions of dollars. They started off at the bottom and worked their way up just like players working themselves up into becoming professional athletes making millions more at that level. In addition, most of those coaches (black/white) were former players themselves. There's a reason teams have coaches, armies have commanders, boats have captains, etc. Men/Women need to be lead by someone when trying to reach a common goal. Not saying the players don't matter, but your view in regards to the coaches is way skewed in the wrong direction.

Your argument is College football is/was/always will be unbalanced, but as long as the players are now getting paid lets let it go over the cliff and leave it broken. That just doesn't seem like a recipe for success. You do realize the more out of balance the sport becomes were there's fewer haves then have nots that's going to be less opportunities for student athletes to participate at the top division and continue to get paid with good NIL deals. There's a reason professional sports have caps, regulations, and rules in place to keep things competitive between all the teams. Otherwise, you have product not many people continue to want to watch.

 

[Cane Tankerous]

Let's try not to use the Forbes income tax calculator, shall we?

First, he will not get $2M all in one year. He just won't.

Second, he can take deductions, and while that is still money "out of his pocket", it's money that reduces his tax bill.

Third, the Federal amount is probably UNDERSTATED, because if the kid reports the income on Schedule C (or as pass-through income from an LLC, thus putting it on Schedule E), he will very likely be partially or wholly subject to Self-Employment tax. That's the tax that takes the place of FICA/Medicare for those of us who are paid by an employer on a regular paycheck. The SE Tax rate is 15.3% (which represents both the "employer" and "employee" halves of FICA and Medicare, though he would get a deduction for the half that represents the "employer" portion).

Finally, California state tax is a graduated rate system, with more gradations than on the federal level. Depending on how you structure the payout of the comp, it is entirely possible for "$2 million" not to hit the 12.3% maximum CA tax rate.

In Florida, its tax treated best if ...

a player should file a pass though llc ($138 per year) owned 100% by a single member llc ($138 per year +$244 one time) which takes the s Corp election.

then, take a $2k per month salary from llc with the s-corp election. FICA AND MEDICARE ARE ONLY CHARGED ON THAT $24K!!!

The balance of income is offset by "business expenses" and the remainder is taxed at the blended federal rate.

Experts.... feel free to correct me if I am wrong in any way. I welcome new knowledge.

 

[TheOriginalCane]

And he can only deduct $10k of that SALT tax. If it’s $1MM/year, that’s a $90k difference of money kept between being here vs. USCw assuming a 10% state tax. $180k on $2MM difference (and probably more). The dollar stretched far more here than out west.

Valid and relevant points. I was also referring to deductions for things like the percentage he pays to his NIL agent, and any relevant expenses that he can associate with his business (accounting & tax fees, travel/mileage, phone and laptop, etc.).

 

[OrangeBowlMagic]

There should be no other way...

Nobody has a problem with people making as much money as they can in every other sector of life, but all of the sudden once it’s time for some athletes to get paid everybody turns into Karl Marx overnight lol

In the words of Gordon Gekko:

You've been very vocal about this, and I'm with you, for the most part.

But do you think, in a specific example like Addison, that it should be allowed for a school (for example USC) to take a look across the country, see the best WR in America (says the Biletnikoff Award), and say "I want that kid on my team" and offer him a ton of money to leave.

Again, at the root of it, a player is getting the max money. Which I think we're both good with. But the situation I just described doesn't even happen in the NFL. I'm sure tampering does, to some extent, but you can't just call a dude in the middle of his contract and say dip out on your current deal and sign with me. This now gets into the debate about whether or not the kids are employees, if they're under contract, etc. etc. I know there are a ton of layers to this onion. But you have been pretty concrete in your stance that every kid should get every single dollar he can, pretty much no matter what. So do you have no issue at all with what's going on with Addison and you feel this should be the way collegiate sports operates from now on? I'm personally not there yet.....I feel like we have to be able to reach something of a middle ground here. But I'm nowhere near smart enough to know how.