Texas NIL Bill
- Thread starter Wild Turkey
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That is awesome!! Tennessee just got caught cheating and their fans have the balls open their mouth. That is amazing
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The way I read it, the 12th Man+ Fund (NIL) violated the non-profit status of the 12th Man Foundation.
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Texas put this on hold for further evaluation. The One Fund is different and pretty common now
Newly-signed Texas NIL bill could set standard moving forward
The bill was signed by Gov. Greg Abbott and will be enforced starting July 1.www.aseaofblue.com
I was surprised this wasn't a topic yet and figured someone would start it. The gest is in the article but other things outside the article are being reported on the radio.
Basically, the Texas schools want to give incentives like points to people who contribute to the NIL collectives and the new Texas bill allows that but the NCAA doesn't. There is also some back and forth about the collectives paying the athletes and the NCAA saying that is not allowed.
Right now the schools are posturing to say they will follow state law and do not have to follow NCAA direction.
We are getting close to a nuclear situation with NIL and the NCAA it appears.
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So you are telling me Texas got scared without saying Texas is scared.
fordman84
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It was a gray area and not worth the fight, so they ended the new program and will allow donors to instead make donations to the annual fund. Doesn't change anything except makes it more fuzzy about where the money is being spent. I can make a perfect analogy for it but that would move this to the political forum.
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Yep, new team colors for Texas, burnt Yella.
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Texas Admin has always erred on the side of compliance, since the SWC imploded. The AD said they would wait for a ruling before implementing the plan. Their bag game was pretty shitty. Let’s be honest, the loudest people calling for NIL limits are those that had high level bag games and do not like the idea that their advantage has been leveled.
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Looks like the IRS has entered the equation:
www.outkick.com
That won’t fly. As a result, The Fund is no more.
Texas A&M Kills Controversial NIL Fund, Uses Loophole To Keep Money Flowing
Although Texas A&M's 12th Man Foundation is shutting down its 12th Man+ NIL Fund, the money is going to keep flowing through a loophole.
www.outkick.com
Texas A&M’s 12th Man+ Fund is dead.
The IRS sent out a nationwide memo back in June which told NIL collectives that their function is not tax-exempt. The 12th Man+ Fund rewarded donors for their NIL contributions with points within the athletic department as well as tax benefits.That won’t fly. As a result, The Fund is no more.
Although The Fund has been discontinued, Texas A&M is using something of a loophole to keep things rolling. The 12th Man Foundation remains committed to providing NIL opportunities for players through marketing efforts— not through direct payments.