NIL - Texas style

TW said:
Actually, the way they are trying to work the deal for the kid is that he would be an employee of the dealership, be paid a commission on sales, and the car he's driving would be for business purposes for him to go to prospective customers and let them drive it before thinking about making a deal on buying.

Of course the people he'd take the car to would be well heeled supporters of the program itself, and actually be prospective clients. Ergo, make one sale a year in his name, he's fulfilled the contract, and they are using his NIL in their ads like any employee. Quit trying to make it sound like it's a publicity deal. That's not how the deal will go down. The reason? Tax deductions, plain and simple.

As for the insurance, the kid will only be required to pay for a personal liability policy, which can be written at state minimum. In Texas, we're talking about about $30 a month from what I gather. Hardly worth mentioning it, but since you didn't see that, I feel obliged.

The trickiest part of this whole thing is how they will align his "work hours" to show he's averaging 20 hrs or more a week directly in sales, and spending time on their sales floor, during normal hours of operation. But, knowing some of the attorneys and accountants involved in this whole charade, I'm confident they already have that figured out.
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I’ve done this deal in Texas with the Spurs and it’s not at state minimum coverage. No dealer will let a kid drive off without comp and collision. Also 99.9% of these car deals are written as a lease which requires different insurance coverages to allow the dealer to run it thru finance for revenue. Technically the dealer makes the lease payment. Did this thing for 6 years so I have a bit of personal experience with comped cars and promo vehicles.

As to an “employee” still requires the same liability. Also if he’s an “employee” the dealer would be required to pay other state taxes such unemployment taxes. That’s why all NIL deals are done as 1099 to waive employee/ employer issues
 
I never said there wouldn't be full insurance. Where did you get that? I said the kid would only be paying the liability insurance. The dealership would pay the rest. Read my post.

It's not a "lease program." It's not a "comp car." It's not a "promo car." It's a "demo car," which all salesmen drive. It may vary on a regular basis as to which car you're driving. Your experience with comped cars and leases doesn't deal with dealer employees. Sorry! Read the laws on it in Texas, and under the Federal Tax codes. The only caveat is, as I stated, that the "employee" needs to show 20 hours a week as time working in dealership. That could even mean sitting in an office, and without anyone knowing it, studying, or playing solitaire on the internet. Maybe, once in a while, talk to a well heeled customer, pull a commission, and go back to the office, with a thicker wallet.

Not everything exists in that button-downed world you refer to. This is a new reality, and you gotta learn to understand where it's going. Even the fact this kid is getting a Lamborghini is something you laughed at just a few months ago, when I said where it was going.

Maybe, on your job, you can't see it, or don't want to see it, but this is the new reality in dealing with amateur sports. This isn't the beginning. It started with our Olympic athletes, and international competitors starting to make a few bucks on the side, and it continues to grow. The difference is, this is a brand new race track, with no guard rails except laws which don't really address the issues. It's the wild, wild, West, of sports pay.
 
TW said:
I never said there wouldn't be full insurance. Where did you get that? I said the kid would only be paying the liability insurance. The dealership would pay the rest. Read my post.

It's not a "lease program." It's not a "comp car." It's not a "promo car." It's a "demo car," which all salesmen drive. It may vary on a regular basis as to which car you're driving. Your experience with comped cars and leases doesn't deal with dealer employees. Sorry! Read the laws on it in Texas, and under the Federal Tax codes. The only caveat is, as I stated, that the "employee" needs to show 20 hours a week as time working in dealership. That could even mean sitting in an office, and without anyone knowing it, studying, or playing solitaire on the internet. Maybe, once in a while, talk to a well heeled customer, pull a commission, and go back to the office, with a thicker wallet.

Not everything exists in that button-downed world you refer to. This is a new reality, and you gotta learn to understand where it's going. Even the fact this kid is getting a Lamborghini is something you laughed at just a few months ago, when I said where it was going.

Maybe, on your job, you can't see it, or don't want to see it, but this is the new reality in dealing with amateur sports. This isn't the beginning. It started with our Olympic athletes, and international competitors starting to make a few bucks on the side, and it continues to grow. The difference is, this is a brand new race track, with no guard rails except laws which don't really address the issues. It's the wild, wild, West, of sports pay.
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No dealer is paying comp and collision for anyone especially on a luxury vehicle. No I see It very clearly. But carry on
 
Here it comes! That was a message to donors exactly what they need to pony up to keep OSU in the hunt for national championships. Either come up with the money, or it's "your fault" we ain't there.

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GBP4EVER said:
Pay to play folks

footballscoop.com

Ryan Day puts an NIL price tag on what he thinks it will take to keep Buckeyes roster together

Meeting with local business leaders, Ryan Day predicts the magic figure he thinks Ohio State is going to need in the coffers to keep their roster together.
footballscoop.com footballscoop.com
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What’s he supposed to say. “Don’t worry folks we have enough money so keep it”?

Nothing like a fundraising speech, lot about nothing and $13m is chump change for OSU to raise. One collective in Florida raised $
 
FlaPack said:
What’s he supposed to say. “Don’t worry folks we have enough money so keep it”?

Nothing like a fundraising speech, lot about nothing and $13m is chump change for OSU to raise. One collective in Florida raised $
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But it's pretty much saying hey we need to pay our guys if we want to win
 
GBP4EVER said:
But it's pretty much saying hey we need to pay our guys if we want to win
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The same speech you hear each year to boosters and doners to raise money. $13m is pocket change to an alumni base that size. I don’t feel sorry for O$U
 
This is not the same speech as every year as you said. This is a speech for money beyond what's normally fed into the program. This is "side money," and a minimum figure, to even keep the talent level they have, and at least be competitive at the level they presently are.

Day wasn't asking for donations to the school which is normal. Why would you even say that? You know better, I'd think.

This was a statement that they need to pony up NIL deals DIRECTLY TO THE PLAYERS, if they want to be winners.

EDIT: And by the way. This is not the figure. This is like minimum wage. He's telling them to sign these kids up if they're on his radar. Lock them in for good old OSU.
 
TW said:
This is not the same speech as every year as you said. This is a speech for money beyond what's normally fed into the program. This is "side money," and a minimum figure, to even keep the talent level they have, and at least be competitive at the level they presently are.

Day wasn't asking for donations to the school which is normal. Why would you even say that? You know better, I'd think.

This was a statement that they need to pony up NIL deals DIRECTLY TO THE PLAYERS, if they want to be winners.

EDIT: And by the way. This is not the figure. This is like minimum wage. He's telling them to sign these kids up if they're on his radar. Lock them in for good old OSU.
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And $13m is pocket change. Day wants the money for NIL the administration wants it for facilities. Basically a PR speech
 
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