Lt.Col.FrankSlade
Well-Known Member
I underestimated the compensation. The documentation from the NLRB ruling estimates annual compensation at $61k for the scholarship football players (only 85 of the 112 on the team). That puts them in the what 25% Federal tax bracket, plus god knows what income tax is in Illinois say another 5-7%? So either they have to come up with that money out of pocket, or AD expenses go up 30% or more (and most ADs are already running in the red). Plus if they are employees this is no longer a tax free enterprise right? So the AD has to now pay taxes on revenue PLUS donations are no longer tax deductible? This could end up being a worst case scenario for collegiate athletics. Pretty much everything other than CFB and CBB would likely get nuked back to club sports with no scholarships.
I wonder if Colter has given any thought as to how sports other than football would be impacted, or if he even cares.
If this goes through, it is the end of college football and basketball as we know it. The number of schools who can survive in this environment is extremely limited.