IRS confirms contributions to NIL collectives aren’t tax exempt

Aside from the obvious reasons of supporting student-athletes, one benefit of donating to NIL collectives was that the donation was thought to be a tax write-off. Now, the IRS has made it clear that NIL collectives aren't tax exempt. The IRS Chief Counsel released a 12-page memo detailing the reasoning behind this clarification. RELATED: Alabama…

June 12, 20230Comments

ByMichelle Newblom

Banner College College Industry

BYU football players accuse Built Bar, other companies of unfulfilled NIL promises

The NIL space is still young and with that immaturity comes many unchecked and bad faith deals. BYU has been on the receiving end of several alleged false NIL promises. Last summer, Built Bar CEO Nick Greer said that the company would foot the tuition bill for football player walk-ons, as well as grant each…

June 6, 20230Comments

ByMichelle Newblom

Banner High School High School NIL Deals

Top Arkansas basketball sophomore reportedly offered $1 million NIL deal

Arkansas doesn’t have legislation allowing high school athletes to profit off NIL, meaning the state’s No. 1 high school sophomore basketball recruit Terrion Burgess would have to move if he wanted to cash in on any offers. Burgess’ current estimated NIL value sits at around $300,000. RELATED: Kentucky commit DJ Wagner signs NIL deal with…

May 24, 20231Comment

ByMichelle Newblom

Banner College College Features

Payment Labs brings new solution to NIL space with MALLO platform

As the NIL space continues to grow, more student-athletes and brands are participating in deals. This influx in partnerships is bringing attention to one major problem for both athletes and businesses — payments. Payment Labs focuses on solving a gap in how businesses pay individuals. With their software, individuals are paid fast, compliantly, and efficiently.…

May 22, 20230Comments

ByMichelle Newblom

High School High School Industry

New York’s latest NIL bill would circumvent NCAA oversight

New York introduced a bill last week that continues the recent trend of state legislatures trying to make it easier for schools to engage in the NIL landscape. A section of the bill would appear to protect state schools from NCAA punishment for NIL violations. RELATED: New Missouri house bill could disallow NCAA from investigating,…

May 17, 20230Comments

ByMichelle Newblom

Banner College College NIL Deals

LSU QB Garrett Nussmeier inks NIL deal with Gordon McKernan Injury Attorneys

LSU quarterback Garrett Nussmeier has decided to stay with the Tigers, foregoing the option to enter the NCAA transfer portal. With that decision comes a new NIL partnership with Gordon McKernan Injury Attorneys. Gordon McKernan announced the partnership on Twitter on Tuesday. RELATED: LSU’s Angel Reese inks NIL deal with Caktus AI: ‘Lean in or…

May 12, 20230Comments

ByMichelle Newblom

College College Industry

NCAA president Charlie Baker urges lawmakers to pass NIL legislation

With an upcoming presidential election cycle this fall, there's a growing pressure for federal legislation regarding college athlete compensation to be hurriedly produced. NCAA president Charlie Baker's recent visit to Capitol Hill is a major driving force behind this movement. Baker replaced Mark Emmert as the president of the NCAA in March of 2023. Between…

May 10, 20230Comments

ByMichelle Newblom

College College Industry

Jamie Wood named Texas A&M’s assistant athletic director of NIL

Jamie Wood announced last Wednesday on Twitter that he is officially Texas A&M’s new assistant athletic director of NIL. "From the Buckeye state to the Lone Star state, I'm excited to head west to Texas A&M and help make a lasting impact in their department as Assistant AD of NIL," Wood wrote in a tweet.…

May 8, 20230Comments

ByMichelle Newblom

High School High School Industry

North Carolina, Virginia become latest states to allow high school athletes to profit off NIL

On Wednesday, both North Carolina and Virginia finalized legislation allowing high school athletes to profit off their name, image and likeness. This makes them the 27th and 28th states, plus Washington D.C., to adopt NIL legislation for high school athletes. RELATED: New Arkansas bill to allow high school athletes to monetize their NIL “As we…

May 4, 20230Comments

ByMichelle Newblom

Banner College College NIL Deals

Postgame facilitates Steve Madden NIL deal for 15 men’s basketball players

Athletes are continuing to step further into the creator space, partnering with brands in their efforts to take advantage of influencer marketing. These deals don’t happen without facilitation, which is where companies like Postgame come in. Postgame, the world’s leading NIL agency, is managing some of the top NIL campaigns in all of college sports.…

May 4, 20230Comments

ByMichelle Newblom