Kentucky making its athletics department a limited liability company…
- Thread starter Maroon Eagle
- Start date
The thing I’ve been saying for a while is that people are going to figure out a way to get around Title IX by outsourcing sports from the university, but no one else seems to believe that/care.
so for my legal experts here, does this move in that direction and/or accomplish this?
so for my legal experts here, does this move in that direction and/or accomplish this?
Fishwater, you're on deck
I'm standing by ready to short our stock
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Really? Who would invest? What the real value proposition of MSU athletics to an investor?
&tate gonna &tate
They say buy low. Our athletic department matches that description
Couldn't the new LLC run Athletics as its "Corporate Mission" and then license the MSU name/affliation along with the facilities, etc.?
Could be a way forward for us for someone or entity that might want to "own" an SEC franchise?
All this is so crazy.
What I’ve said in the past too is that the school could maintain facilities for a period of time that gives everyone equal opportunity to rent them based on some mandatory margin, but the unprofitable sports wouldn’t be able to afford it.
I didn’t look closely at what exactly KY did, who owns the LLC, etc., but I do think there’s absolutely a path to it, which probably intensifies if/when the NCAA goes away
Courts would pierce that corporate veil like it was nothing. Bringing in outside investment would be a disaster for any college athletic program. FSU looked at it when they were trying to raise money to get out of the ACC. Didn’t take them long to abandon that idea.
I always thought setting up a 501C(3) to pay players would have been a good idea. I don't know if that is the correct tax code but I hope you know what I mean. I think all the contributions to it would be tax deductible. Have one set up for each sport that way the contributors could control what sport their money goes to. Then make the athletes of each sport an employee of those foundations. Not a tax guy I could be wrong.
But what do I know, I am just an old Marine who somehow graduated from a major university.
But what do I know, I am just an old Marine who somehow graduated from a major university.
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Don’t think it’s a piercing the corporate veil issue. There are some creative approaches here. I will be interested to see who does what and whether they get challenged
If they're trying to get out of Title IX, it definitely will be. And yeah, it will be interesting to see how this goes. But if you sell out your football and basketball programs to outside investors, they will milk you dry and you'll have nothing left.
The “LLC” on the beer label stands for “Limited Lager Content”****
