Good synopsis by ESPN staffers:
Guardrails 
Colleges better hire good third party marketing companies. The school that do the best in helping their athletes build a brand will get the better recruits.
I think the NIL is a bit of a runaway train, and there is no stopping it, but I believe there are going to be a lot of bad outcomes.
For example, I assume if a player gets an endorsement deal with a car dealership that pays a couple of thousand dollars per semester, the dealer will send them a 1099 form and write it off as an expense. The player must then pay quarterly estimated taxes, and do a Schedule C (Profit or Loss from a Business) when they file taxes. With no withholding taken out I suspect most will not have the cash to pay estimated taxes, so they just wonātāuntil they get audited, and I think this will be a hot button item for the IRS. They will know from the 1099 who to go after, and the player will find themselves in debt for the taxes, penalties and interest, with no time in their schedule to get a job to pay it off. Now they are going to be incented to take some under the table cash to clean this up, and that never comes without problems.
All for what for most players will not be much money. The Zions of the world will have a team of pros to handle all of this, but most players wonāt, and their friends and families are unlikely to have the background to help them.
Iām going to save this post since I think itās prophetic!
Will be interesting to see what the three NCAA divisions come up with by October. Of course, D-I is the one that matters to us. From reading Ross Dellinger at SI, the expectation by the NCAA that Congress will grant an antitrust exemption is a nonstarter. Much to be hashed out but the folks in Indy have seen the writing on the wall and begun the process of moving into the 21st century.
My guess is that the better players at the mid-to-higher levels will will be looking to step up their exposure since it will potentially reward them monetarily. Take this with the transfer rules and you have a real mess.
Just hire an a accountant
Many of the revenue sport athletesāand that is generally who will have the opportunity to make some moneyācome from families where hiring an accountant is not something they know how to do. And it sounds like the universities are being told to keep an armās length away from all of this, not advising the players. We will see, but I know people that own their own businesses and struggle with this, so my confidence in a college age athlete putting enough away to pay state and local taxes, plus both sides of payroll taxes rather than spending it is low.
This has been my point all along
https://sports.yahoo.com/why-ncaa-changes-wont-only-benefit-toptier-schools-191316786.html
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No one knows how all of this will play out. It could in some cases benefit the smaller fish in the sea. Every prediction at this point is based on opinions. My opinion is that this opens a can of worms that will be very difficult to control & impossible to undo. My fear is that this is just another opportunity to be taken advantage of with all kinds of gray areas that the NCAA simply cannot regulate. Universities with more resources can hire an army of accountants & marketing managers to maximize their athletes earnings. Not to mention the additional employees that will be required in the compliance office. Iām afraid this just helps the rich get richer & adds to the arms race & extravagant spending that leads everyone to believe that every athletic department in the country is rolling in cash.
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If our major donors have to use their contributions to ābuyā our athletes, weāll never raise any money to expand/improve our facilities.
The schools canāt hire anyone to assist. Marketing or accounting. Thatās clear.
Someone needs to tell these guys
They can partner with anyone. All companies have resources available to their employees. Healthcare, legal and etc. However, the schools or boosters canāt pay for any of it. That rests in the hands of the athletes.
So where is the line drawn. I donāt think there is enough information in that tweet to determine if Miami (Ohio) is paying the consultant or not. Maybe the school canāt pay for marketing athletes but what is considered a partnership. If a booster owns that marketing company I would think itās pretty black & white. What if a booster is in management at that company. Does that cross the line. What if itās the same company a booster pays for his or her own marketing purposes. They can always overpay for an under the table promise to help out certain athletes. I just find it very hard to believe schools & boosters will not get involved in helping athletes market themselves. But your opinion is probably the correct opinion.
Itās not an opinion
With top ranked freshman having the ability to make money off their images and names, would players such as RJ Barrett and Cam Reddish go to Duke in the same class as a player such as Zion Williamson, who will get all the attention and nearly all the money? Are Duke fans going to buy tee shirts/jerseys for 3 freshmen?
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Thatās a good read. He touched on it at the end of the article, and I thought made another good point. If the ālargerā schools are already paying recruits, this could not have as much of a negative effect on us as thought. Now we can at least offer to do the same in a large metropolitan city. There has to be an argument there that this could help schools like us, Memphis, Houston, etc.
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clt says we should start giving away Jordan brand shoes