How Billionaires Took Over College Football

[The Miami Ute]

In 2021, the college football world turned upside down. NIL became legal, and players could finally make money. But what the NIL system has become is unrecognizable: Rogue nonprofits and billionaires have taken over the sport.

This video investigates the current state of NIL, how collectives work, why the IRS is cracking down on them, and what the future of the sport holds.

How Billionaires Took Over College Football

[China Rider]

What aren’t billionaires buying? From my perch it looks like we are entering the era of the robber barons circa 1880’s.

[The Miami Ute]

Well, I guess what I would say is that once the IRS closes the loophole of having athletic donations count as tax write-offs, then the money will dry up. I for one am, well, I guess I shouldn’t really be shocked, that all of these collectives are, at the moment, considered to be 501(c)(3) tax-exempt organizations. It’s one thing to give money to athletes fully well knowing that you’ll get it back as a tax deduction, it’s quite another to give money to athletes without getting anything tangible in return. That’s truly a fool’s errand. Even the most ardent booster will think twice when he/she knows all they’re doing is p**sing money away on a sport.

[Central Coast Ute]

I still wouldn’t be surprised to see Texas donors continuing to pay. Those guys are crazy about UT football.

[SkinyUte]

Of course they have. They’re taking over everything else, why not college football?

[Author]

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