A.J. Hammons..
- Thread starter topurdue2
- Start date
Just heard Mike & Mike discussing this. 80% of the money is held for the player until he completes his eligibility, 10% go to his teammates, and 10% to an unnamed charity. Looks like a great way for the owner of the site to scam a bunch of $$$. Supposedly doesn't breach any NCAA rules since the player is not contacted until he completes his eligibility. If they don't complete their 4 years you get a refund. Any bets on how hard it is to get that money back. "Well Joe hasn't been in school for 8 years but he's still got a year of eligibility left and hasn't turned pro. We'll make sure you get your refund just as soon as he uses that year up." Right!!! Since it seems all legal I'm betting Boeheim is somewhere among the site owners.
A lot depends on if it gets to be deemed legal, because I still think there is a lot to be figured out still. This will have little effect on the one and dones as they wouldn't consider staying for 4 years to graduate. I do agree though it just feels wrong, even if I can't pinpoint exactly why.
Even so, Costa Rica's tax rates are pretty low!
So, the funds are supposedly put in escrow until they're eligible to be distributed, correct? Gee, I wonder who keeps the investment earnings? Invest it wisely, Mr. Madoff.
So, the funds are supposedly put in escrow until they're eligible to be distributed, correct? Gee, I wonder who keeps the investment earnings? Invest it wisely, Mr. Madoff.
It would be an easy connection for the NCAA to link alumni to funds to be paid to players that went to their schools. The athletic dept. would be held accountable for this. The athlete can easily be aware of the money waiting for him when he graduates, through well known website. So if he takes the money, even after he graduates, NCAA would investigate. Any links between alumni and fund could prove to be paying an athlete for services. JMHO
I'm not sure how this can be legal. But then again I'm not sure how Boehiem didn't get a lifetime show cause either.
What's to stop teams from telling a player sign here and booster x will put in $500,000 a year, if you don't make the pros you will have a degree and $2,000,000.
If a player decides they want to go pro before their 4 years booster x gets back the money to be spent on the next recruit.
Posted from Rivals Mobile
If a player decides they want to go pro before their 4 years booster x gets back the money to be spent on the next recruit.
Posted from Rivals Mobile
