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NIL, Transfers, and Stratospheric Salaries. What Is the Future of GT Football and College Football in General?
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<blockquote data-quote="RamblinRed" data-source="post: 955048" data-attributes="member: 1776"><p>Texas A&M has shut down its in-house NIL after receiving letter from IRS stating it would likely cost them their tax-exempt status.</p><p>[URL unfurl="true"]https://www.cbssports.com/college-football/news/texas-a-m-shuts-down-controversial-12th-man-nil-fund-after-irs-threatens-foundations-nonprofit-status/[/URL]</p><p></p><p>A&M tried to set up an in-house NIL (within the University/AA) and NCAA said they couldn't do that - which they ignored and then had the governor and legislature create a bill that would make it illegal for NCAA to punish schools in TX for Collectives. But the IRS was a different matter. The threat of losing tax-exempt status and what that would mean for fundraising was too much.</p></blockquote><p></p>
[QUOTE="RamblinRed, post: 955048, member: 1776"] Texas A&M has shut down its in-house NIL after receiving letter from IRS stating it would likely cost them their tax-exempt status. [URL unfurl="true"]https://www.cbssports.com/college-football/news/texas-a-m-shuts-down-controversial-12th-man-nil-fund-after-irs-threatens-foundations-nonprofit-status/[/URL] A&M tried to set up an in-house NIL (within the University/AA) and NCAA said they couldn't do that - which they ignored and then had the governor and legislature create a bill that would make it illegal for NCAA to punish schools in TX for Collectives. But the IRS was a different matter. The threat of losing tax-exempt status and what that would mean for fundraising was too much. [/QUOTE]
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NIL, Transfers, and Stratospheric Salaries. What Is the Future of GT Football and College Football in General?
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