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WFU Hoops: '24-'25 Roster Construction Thread: (-) Carr, Monsanto, Ituka, Clark, Miller, Marsh, Keller, Canka / (+) Spillers, Biliew, Cosby

Say Hey Deac said:
Don’t think we have as a society fully recognized how insane the current set-up is.

It is currently up to the fans to raise money to pay players’ salaries, even though we aren’t team owners and don’t receive any financial benefit from the players’ work. Fans only get bragging rights. The schools sign the $1 billion deal with ESPN, they get the revenue from ticket sales, merch sales, etc., but they don’t pay the players.

Sorry, but that is completely nuts. Not sure how long it will be this way, I’m guessing it will be relatively short lived and we’ll look back at this time as a period where everything was very stupid.
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Counterpoint (as to the potential longevity of this): You just described decades of NFL stadium deals w/r/t taxpayers & owners.
 
Deacon93 said:
College Basketball is an absolute mess! Why the federal government can’t step in and fix this mess is inconceivable. It’s not even fun to rout for Wake anymore because you don’t get to grow with a team. These players constantly coming and going because their ego think the grass is greener somewhere else. Fuck all these money grabbing kids that don’t give a fuck about a quality education. They are going to look back and say damn, I should have graduated from Wake but now I can’t play in the league and work the graveyard shift at Walmart!
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He's going to App?
 
Say Hey Deac said:
Don’t think we have as a society fully recognized how insane the current set-up is.

It is currently up to the fans to raise money to pay players’ salaries, even though we aren’t team owners and don’t receive any financial benefit from the players’ work. Fans only get bragging rights. The schools sign the $1 billion deal with ESPN, they get the revenue from ticket sales, merch sales, etc., but they don’t pay the players.

Sorry, but that is completely nuts. Not sure how long it will be this way, I’m guessing it will be relatively short lived and we’ll look back at this time as a period where everything was very stupid.
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Yup. Players are just getting donations from consumers of the sporting event. There is no owner of the team/business, and no actual ROI for your money. It is also not a charity, since there is profit made by the schools themselves, that is not distributed back to players or donors. And there is no official business between the NIL collectives and the teams, just middlemen with the players outside of the programs.

I can't think of anything similar like this. It is totally insane, and yet here we are. It certainly doesn't seem sustainable.

Now, if NIL collective members were able to get a piece of the revenue generated from said sport, that would be more interesting.

It is as much of a sham as the Green Bay Packers "shares" that people buy, but have 0 actual equity in the team.
 
How is the player's NIL money even considered financially - is it a 1099? A non-taxable gift? I guess it is considered income since technically its supposed to be tied to actual name/image/likeness, but is that actually being executed in any meaningful way with every player?
 
PaddyWF said:
Yup. Players are just getting donations from consumers of the sporting event. There is no owner of the team/business, and no actual ROI for your money. It is also not a charity, since there is profit made by the schools themselves, that is not distributed back to players or donors. And there is no official business between the NIL collectives and the teams, just middlemen with the players outside of the programs.

I can't think of anything similar like this. It is totally insane, and yet here we are. It certainly doesn't seem sustainable.

Now, if NIL collective members were able to get a piece of the revenue generated from said sport, that would be more interesting.

It is as much of a sham as the Green Bay Packers "shares" that people buy, but have 0 actual equity in the team.
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Also it’s not like the schools get the money to pay for scholarships and lower tuition. Where does the money go after you have all of the facilities etc.

This is going to lead to an enormous level of white collar corruption.

Payers should get paid from the gate and then advertising NIL deals on top for the stars as the legal ruling called for…. Complete bullshit.
 
PaddyWF said:
How is the player's NIL money even considered financially - is it a 1099? A non-taxable gift? I guess it is considered income since technically its supposed to be tied to actual name/image/likeness, but is that actually being executed in any meaningful way with every player?
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All are 1099'd
 
diverdeac said:
Also it’s not like the schools get the money to pay for scholarships and lower tuition. Where does the money go after you have all of the facilities etc.

This is going to lead to an enormous level of white collar corruption.

Payers should get paid from the gate and then advertising NIL deals on top for the stars as the legal ruling called for…. Complete bullshit.
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Players should get paid part of the TV revenue.
 
Deacfreak07 said:
I suspect we are a year or so away from folks having some tax bill sticker shock horror stories.
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I would not be surprised to see more than one player in the news for being charged with tax evasion for not paying taxes on their NIL money. Most likely simply out of ignorance.
 
scooter84 said:
I would not be surprised to see more than one player in the news for being charged with tax evasion for not paying taxes on their NIL money. Most likely simply out of ignorance.
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An abrupt introduction to the 37% tax bracket can do that.
 
Deacfreak07 said:
I also don’t think it’s wrong or unreasonable to say that Wake Forest simultaneously punches above our weight and is behind some of our key competitors.
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What is our weight? Given that Wake basketball is well behind plenty of other small private university programs, I don’t think we can say Wake punches above our weight and merely falls behind UNC and Duke. That was the case 20 years ago but not now. I don’t understand how Gonzaga and Creighton can be consistent top teams but Wake isn’t.
 
PhDeac said:
What is our weight? Given that Wake basketball is well behind plenty of other small private university programs, I don’t think we can say Wake punches above our weight and merely falls behind UNC and Duke. That was the case 20 years ago but not now. I don’t understand how Gonzaga and Creighton can be consistent top teams but Wake isn’t.
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FOOTBALL
 
PhDeac said:
What is our weight? Given that Wake basketball is well behind plenty of other small private university programs, I don’t think we can say Wake punches above our weight and merely falls behind UNC and Duke. That was the case 20 years ago but not now. I don’t understand how Gonzaga and Creighton can be consistent top teams but Wake isn’t.
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They have had better coaches for longer. This isn’t that hard.

They also play in a much easier conference.
 
a big part of it is the way they are managed based on the incentives, but there aren’t nearly the amount of profits in college athletics as i think people are imagining. running the non-revenue sports in particular is really expensive. but iirc, wake had sometimes historically lost money on its football program operations too.
 
PhDeac said:
What is our weight? Given that Wake basketball is well behind plenty of other small private university programs, I don’t think we can say Wake punches above our weight and merely falls behind UNC and Duke. That was the case 20 years ago but not now. I don’t understand how Gonzaga and Creighton can be consistent top teams but Wake isn’t.
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Gonzaga and Creighton are both about twice the size of Wake and significantly less academically rigorous.
 
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