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We aware we just gave 800k to a bball player?

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Pearson704 said:
Tax experts in the room: can the NIL funds be written off on taxes as a business expense?
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If everything is structured properly (you document the nature of the business expense, you 1099 the kid, etc.), then yes.

Down the road, might the IRS question the company on the VALUE of the deduction? Possibly. But if the arrangement is contractual and states it is for marketing/PR/endorsement type services, then it is a valid business expense and can be deducted.
 
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I don't think he has spent half of the $10 million he setup for NIL's yet, but it is probably getting close. OU is now going to pay their full roster $50,000 a player. Wait until November when the NIL deals really get crazy.
 
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TheOriginalCane said:
If everything is structured properly (you document the nature of the business expense, you 1099 the kid, etc.), then yes.

Down the road, might the IRS question the company on the VALUE of the deduction? Possibly. But if the arrangement is contractual and states it is for marketing/PR/endorsement type services, then it is a valid business expense and can be deducted.
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Advertising budget.
 
Bird4um said:
This can’t end well.

Never heard of the kid.

Again. Where is the return for Ruiz?
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Then you need to get your mouth shut and ask. The kid was an all Big 12 player and was the best player in the portal all together AND there’s another kid that’s an NBA level talent that we’re expecting as of now too.

All this post did was make you look ignorant.
 
Bird4um said:
Zero return on this money
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So the guy is smart enough to put himself in position to become one of the richest dudes on the planet but you have doubts on how he does business based on a NIL contract to a B-Ball player worth $800,000 over 2 years??? Sorry but that doesn't make sense...
People like Ruiz don't make moves like that unless it's well thought out in advance.... Hence the reason why he's in the position he's in to be able to make those moves....
 
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Zbrod95 said:
Then you need to get your mouth shut and ask. The kid was an all Big 12 player and was the best player in the portal all together AND there’s another kid that’s an NBA level talent that we’re expecting as of now too.

All this post did was make you look ignorant.
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Surely...SURELY...Bird4UM was acknowledging that he didn't know who the kid was...purely as a commentary on his NIL potential...I mean, Pack can't possibly have that many followers if Bird4UM doesn't know who he is...

But seriously, I still think we would have had a huge NIL possibility if we had signed Fudge to go along with Pack, and then we added Akok Akok as well.

NYSOM would have moved from NYC to Coral Gables within the week...
 
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