If student athletics are employees, who are they employees of, the athletic association or the university? What about GT and UGA etc who are part of the University System of Georgia? Who is the employer?
And, as a previous poster noted, are they liable for federal and state income taxes? As a student I would hate to pay the taxes on a scholarship at Northwestern, $45, 527.00 for 2013-14.
In my mind it would be the legal entity that co signed the LOI. That's the binding contract.