FC/OT: Utah NIL delivers for bball/gymnastics teams…

[Midnighter]

Cool.

 

[OuiRPSU]

Cool.

I just feel like this is so wrong.

 

[PSU Mike]

I’d pass.

 

[Catch1lion]

What do you think the deal was ? Two year lease ? I would be all in as a college athlete . I guess the kids need to pay taxes and insurance ? Grim would have an idea how this usually shakes out .

 

[GrimReaper]

I just feel like this is so wrong.

Give it time. Eventually some dealerships are going to find that their sales didn't increase sufficiently to offset the diminished value of the glut of returned lease cars.

 

[psuro]

do they have to commit 10% of the value to the Church?


asking for a non Mormon friend.

 

[GrimReaper]

What do you think the deal was ? Two year lease ? I would be all in as a college athlete . I guess the kids need to pay taxes and insurance ? Grim would have an idea how this usually shakes out .

My guess would be one year renewable to accommodate eligibility status, transfers, etc. Expensive way to go.

Taxes, registration, fees, etc. would probably be rolled into the lease finance. Insurance is probably paid for by the driver for a variety of reasons.

 

[Catch1lion]

My guess would be one year renewable to accommodate eligibility status, transfers, etc. Expensive way to go.

Taxes, registration, fees, etc. would probably be rolled into the lease finance. Insurance is probably paid for by the driver for a variety of reasons.

Sales tax rolled in . But wouldn’t the use of a vehicle being paid for at say $400/month pass as earned income or a taxable gift to the user ?

 

[Catch1lion]

do they have to commit 10% of the value to the Church?


asking for a non Mormon friend.

Just can not soak in the vehicle unless the tithe is paid .

 

[Midnighter]

More info - Utah announced previously that *every* member of the football team gets one too.

Two months after announcing one of the most lucrative team deals of the NIL Era, the Utah-focused Crimson Collective is once again making history – this time with one of the largest multiteam deals for women’s sports.

All eligible athletes – including walk-ons – on the women’s and men’s basketball and women’s gymnastics teams will have the option to receive leases for one of two vehicles: a 2024 Jeep Grand Cherokee L Limited Edition or a 2024 Ram 1500 Big Horn truck, complete with the Night Edition package. Leases and insurance will be paid for by Crimson Collective donors. The total value of the multi-team deal is believed to approach $2 million.

The retail price for a 2024 Jeep Grand Cherokee L Limited Edition starts at $52,000. A 2024 Ram 1500 Big Horn truck retails at $61,000.

 

[psuro]

Just can not soak in the vehicle unless the tithe is paid .

 

[GrimReaper]

Sales tax rolled in . But wouldn’t the use of a vehicle being paid for at say $400/month pass as earned income or a taxable gift to the user ?

Gifts are taxable to the giver (though there are some pretty hefty exemptions that would kick in here unless one person is underwriting the all or a large part of these deals )and it wouldn't be a NIL transaction if that were the case.

Under a bona fide NIL deal, value of the lease would be taxable income to the person getting the car.

 

[PSU87]

Give it time. Eventually some dealerships are going to find that their sales didn't increase sufficiently to offset the diminished value of the glut of returned lease cars.

Its hard to believe a dealership is going to get ROI from women's bball players and gymnasts (notable LSU exceptions aside).

I gotta believe they are smart enough to know that, and their motivation is simply that Utah has good sports teams.

Then again, plenty of stupid people own businesses.