1WYO NIL Collective goes live today

[MrTitleist]

For those who haven't read up on it, the Wyoming NIL collective goes live today! That means you can hit their website (https://1wyo.org/) and make a donation. You can contribute any amount you want. You can also read about their mission and board of directors on the page as well. Long overdue for UW and should put us on a more level playing ground with our peers. Nice work to these guys for getting this spun up!

 

[McPeachy]

One question I have - which was taught to me by the Susan Komen Foundation - how much of the donations are going toward "admin" costs. In other words, this bitch likely isn't being ran for "free" by whomever. Is somebody else getting paid? Hmmmmmmmm.

 

[OrediggerPoke]

One question I have - which was taught to me by the Susan Komen Foundation - how much of the donations are going toward "admin" costs. In other words, this bitch likely isn't being ran for "free" by whomever. Is somebody else getting paid? Hmmmmmmmm.

The administrative costs don't appear to be disclosed on the website. All 'charities' have administrative costs and some exist really only to pad the pockets of the charities' founders (however, I don't believe that to be the case here considering who the founders are).

That said, there is nothing 'charitable' about all of this in my opinion. Athletes get paid and in exchange the athlete agrees to endorse a given charity (remember Ike's Boys & Girls Club appearance shortly before he jetted...). I had heard through the grapevine (don't know the truth at all) that the Boys & Girls Club deal was that the Club would get 10% of the money and the athletes would get 90%. The only reason for this 'charitable' tie and agreement of the athletes to endorse a given charity is so that donors can theoretically claim a charitable tax deduction for money that is going to pay college athletes. I believe that the IRS will eventually crack down on this practice but right now it is the wild west with all of these NIL collectives and this operation has become commonplace. Personally and if I was on the Board of any charity getting involved in all of this, it would be the day that I handed in my resignation letter from such Board and a cease of donations from me. I just don't believe it is right and within the purpose of a charity.

 

[MrTitleist]

There are admin costs, read that in an article Cody published yesterday. A lot of work, so they're paying themselves but that number seems to be unknown. Oredigger, as you mentioned above, there seems to be A LOT of gray area with these NIL collectives.. I had to read the website two or three times to make sense of it in my head. Kinda looks to me like they're playing within the rules that are currently out there until they change. But it also got me thinking about how many people are going to donate to the NIL when the CJC still exists. I know the NIL can directly target resources vs CJC which cannot do that but are people going to spread resources to both? I dunno. Will be interesting to see how this plays out.

 

[McPeachy]

There are admin costs, read that in an article Cody published yesterday. A lot of work, so they're paying themselves but that number seems to be unknown. Oredigger, as you mentioned above, there seems to be A LOT of gray area with these NIL collectives.. I had to read the website two or three times to make sense of it in my head. Kinda looks to me like they're playing within the rules that are currently out there until they change. But it also got me thinking about how many people are going to donate to the NIL when the CJC still exists. I know the NIL can directly target resources vs CJC which cannot do that but are people going to spread resources to both? I dunno. Will be interesting to see how this plays out.

You nailed my concern in "that number seems to be unknown". 1WYO should disclose it, if they are really trying to benefit Wyoming, Wyoming Athletes, etc. Donors beware!

 

[LawPoke]

I wonder what the net impact of the new collective will be on CJC and Foundation fundraising? Folks only have so much money to invest in UW and UW athletes. I don't have interest in CJC, the Foundation, or the collective so don't have a dog in the fight, but could definitely see some issues emerging - and fairly soon. CJC may actually have to consider innovation and change...which aren't overly popular in groups like CJC whose motivation has largely been perpetuating a closed, mutual aggrandizement club.

 

[OrediggerPoke]

I wonder what the net impact of the new collective will be on CJC and Foundation fundraising? Folks only have so much money to invest in UW and UW athletes. I don't have interest in CJC, the Foundation, or the collective so don't have a dog in the fight, but could definitely see some issues emerging - and fairly soon. CJC may actually have to consider innovation and change...which aren't overly popular in groups like CJC whose motivation has largely been perpetuating a closed, mutual aggrandizement club.

While I agree that CJC needs a complete overhaul, you bring up the exact point that has me concerned for the future of UW Athletics! Robbing Peter to pay Paul. Rather than donor money going to athletic facility improvements and maintenance, a significant portion of it will now go to the pockets of 18-22 year olds to blow.

 

[OrediggerPoke]

There are admin costs, read that in an article Cody published yesterday. A lot of work, so they're paying themselves but that number seems to be unknown. Oredigger, as you mentioned above, there seems to be A LOT of gray area with these NIL collectives.. I had to read the website two or three times to make sense of it in my head. Kinda looks to me like they're playing within the rules that are currently out there until they change. But it also got me thinking about how many people are going to donate to the NIL when the CJC still exists. I know the NIL can directly target resources vs CJC which cannot do that but are people going to spread resources to both? I dunno. Will be interesting to see how this plays out.

You nailed my concern in "that number seems to be unknown". 1WYO should disclose it, if they are really trying to benefit Wyoming, Wyoming Athletes, etc. Donors beware!

Agreed and great point! If I had to purely guess, the founders will probably be charging some sort of hourly rate for their work (probably similar to the rates they charge for their legal and cpa work). But I believe any NIL collective would require significant legal and tax work regardless, and, it is doubtful any attorneys would be doing that for free.

In any event, you are completely right! This information should be freely disclosed and easily accessible from the website. But what they say about a fool and their money.

 

[OrediggerPoke]

Oredigger, as you mentioned above, there seems to be A LOT of gray area with these NIL collectives.. I had to read the website two or three times to make sense of it in my head. Kinda looks to me like they're playing within the rules that are currently out there until they change.

It is bound to all blow up. It is pretty simple to me. Tax courts and judges are going to eventually look at the intent of the 'donation.' Was the intent of the donation really a charitable purpose (i.e. to benefit the Boys & Girls Club in helping at risk youth) or was the intent of the donation really just to pay players with a fictious guise of helping real charities in order to claim tax benefits?

 

[ELKMT]

I’d rather pay to have and keep good players than donate to CJC. Hell I’d rather have coaches get a pay cut and throw more more money at players.

 

[McPeachy]

I’d rather pay to have and keep good players than donate to CJC. Hell I’d rather have coaches get a pay cut and throw more more money at players.

Although I firmly believe that the CJC is poorly managed, lacks vision, and definitely leadership, but no way in hell I am going to give $2,000+/- to an NIL every year, when the "administrators" can take whatever cut they want, and disperse pennies to very few. Hell, Ike himself flat out told UW it would take $500,000 to keep him here...and guess what? I don't see the value in an NIL for Wyoming right now, and I have thought about this mess for quite some time. :twocents:

 

[ELKMT]

The 1WYO board of directors will not be compensated for the work put into the collective, Edwards said, joking that the hours have already been more than anyone imagined. Volunteers and interns, he said, will play a part down the road.

Well the board of directors will start with no compensation so I think that is a start. I doubt coaching salaries drop but I think there is a chance they do in the lower D1 levels. A jovon Bouknight, Brett Smith, or Allen have a bigger impact than coaching in my opinion.

I’ve been wrong and I’ll be wrong again but things are interesting right now.

 

[OrediggerPoke]

The 1WYO board of directors will not be compensated for the work put into the collective, Edwards said, joking that the hours have already been more than anyone imagined. Volunteers and interns, he said, will play a part down the road.

Well the board of directors will start with no compensation so I think that is a start. I doubt coaching salaries drop but I think there is a chance they do in the lower D1 levels. A jovon Bouknight, Brett Smith, or Allen have a bigger impact than coaching in my opinion.

I’ve been wrong and I’ll be wrong again but things are interesting right now.

I agree that elite players like Josh Allen and Graham Ike have a bigger impact than a head coach. So all we have to do is use NIL to attract or keep an elite QB like Josh Allen?

…the going NIL rate for elite college QBs is now about $2 to $6 million per year.

 

[ELKMT]

How much is Boise paying Taylen Greene? From what I can find about 125k? I think that could be a way of keeping a player, would obviously have to increase per year if the player ended up like a Brett Smith or JA.

 

[OrediggerPoke]

How much is Boise paying Taylen Greene? From what I can find about 125k? I think that could be a way of keeping a player, would obviously have to increase per year if the player ended up like a Brett Smith or JA.

Neyor’s deal was rumored to be in the $1 million range.

First, finding an elite athlete overlooked by others to come to Wyoming is lightning in a bottle. Second, keeping that athlete after they’ve proven themselves is in the realm of nil given the fiscal improbability.

Also - while Brett Smith was a good player for the DC system, I don’t know how he is even mentioned in the same sentence with Josh Allen in terms of talent.

 

[ELKMT]

I didn’t say anything about Brett Smith being as talented ( very few QBs are even in the NFL), Brett Smith was certainly a high level college player. Those type of players are out there, and no we won’t compete with Texas for players in NIL. That doesn’t mean we won’t keep some and a strategy should focus on using the transfer portal more so ( not sure if Bohl can adapt).

I am sure the numbers will go up for QBs this following season. This article states a group of 5 QB averages $58,000 per season, with the highest being mid 400k.
https://www.on3.com/nil/news/on3-ni...j-stroud-caleb-williams-power-5-quarterbacks/

 

[ragtimejoe1]

Agree with McPeachy on this.

Overall, I applaud the effort, question admistrative costs, and doubt it makes a big impact.

 

[LanderPoke]

How much is Boise paying Taylen Greene? From what I can find about 125k? I think that could be a way of keeping a player, would obviously have to increase per year if the player ended up like a Brett Smith or JA.

Neyor’s deal was rumored to be in the $1 million range.

I find that hard to believe.

 

[ELKMT]

Neyors first NIL deal was around 340k and he will make 127k this from what I can tell. He could make way more if he does well.

 

[McPeachy]

The 1WYO board of directors will not be compensated for the work put into the collective, Edwards said, joking that the hours have already been more than anyone imagined. Volunteers and interns, he said, will play a part down the road.

Well the board of directors will start with no compensation so I think that is a start. I doubt coaching salaries drop but I think there is a chance they do in the lower D1 levels. A jovon Bouknight, Brett Smith, or Allen have a bigger impact than coaching in my opinion.

I’ve been wrong and I’ll be wrong again but things are interesting right now.

Not paying the BOD is common, and expected, from most / all 501 C 3 non-profits. That isn't the admin cost I am / was referring to. In fact, if they did pay their BOD, they would have to make sure the compensation is not more than "reasonable" for the services provided. And those services are...paying college athletes. Strange territory. Either way, good for them, it will be interesting to see how it unfolds in the next few years.