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As a taxpayer in Indiana I am absolutely thrilled that Post Secondary athletes can be reimbursed for there NIL. With this new found wealth these athletes at public Universities need to be responsible citizens. This would mean that they reimburse the Citizens of Indiana for “ALL” of the expenses required for them to demonstrate their skills and profit off of their NIL. To opt in to the NIL program they would need to commit to 4 years, maintain the University average GPA and graduate. They would no longer be scholarship student-athletes, they would be reimbursed 1099 employees and subject to all applicable State and Federal taxes.
To the athletes opting in to NIL, do the math. FYI Tom Allen makes $4,700,000 per year, with a 85 man rooster that is $55,294 per player. Plus 9 additional coaches, trainers, facilities, uniforms and travel. If the local car dealer wants to give you a $75,000 BMW and $20,000 cash. Your Federal taxes will be 26,500. Oh yea the agent is going to get 6-10%, $5,700-9,500.