[quote="TRabinowitz" post=373981][quote="Monte" post=373980][quote="Beast of the East" post=373979][quote="Monte" post=373976][quote="Beast of the East" post=373975][quote="Monte" post=373968][quote="TRabinowitz" post=373963][quote="Beast of the East" post=373954][quote="Monte" post=373951]FYI of the $103,000 “donated” so far, $100,000 came from a guy who seems to be a partner in this whole thing. So it seems like more of a “business investment” then a “donation”. I’ll pass on this. Not even sure we should be promoting this site without knowing way more about it.[/quote]
Isn't it funny about those sooooo concerned about helping the poor and working class often get wealthy doing it?[/quote]
I'll help ya out here, spank. Because I actually wondered about whether or not the website, student-player, would be taking a cut of the money before I put money in the pot, i actually reached out and ASKED them before assuming. They aren't taking any cut of the money contributed from donors or from the student-athletes when they collect.[/quote]
You're saying that 100% of the money collected is being donated? If that's the case, then it certainly sounds more legit. Having said that, there still seems to be too many unknowns at this point about this charity and the entire situation. And as others have said, there's enough money floating around in corporate America to pay the players. They should be funding this along with the schools. Like everyone else, gotta pick and choose were to donate.[/quote]
Actually, Monte, if you are correct it would make sense. There will certainly be operational expenses whereby as administrators, there will be salaries, travel, and other general expenses. If a backer put in 100K of his own money, it could be exactly what you suspect, that he is seeding the fund to give it inertia. It could be booked as a loan whereby he gets repaid with interest. The model, more than likely is designed to put a stake in the ground, and get bought out by a much larger concern. Odds on, this isn't an altogether altruistic endeavor - it rarely is.[/quote]
I agree with you beast, but then again when it comes to these things I tend to be very very skeptical for a lot of reasons.[/quote]
It's a solid bet that the 100K a partner donor put in is not being escrowed, and as a donation is completely tax deductible. Then, that 100K can be used to establish operations - maintenance of a website, publicity, fund raising, salaries and overhead. These are all legitimate for a charitable organization as expenses, but the size of the donation is questionable. I'd love to hear of the background of the owners of this enterprise.[/quote]
Here’s a lot more on them. Problems already and it certainly seems more like a business venture then a charitable endeavor:
[URL]https://www.google.com/amp/s/w...-link-college-athletes-with-sponsorships?_amp[/URL]=true[/quote]
As long as all of the money that we put in go to the athletes, I don't really care what their other methods of a sustainable business model is. FWIW, when I messaged with the founder yesterday he told me that eventually the website will be supported by advertisements on the website.
As for the $100k that his company put in the pot (10k each to 10 of the biggest college quarterbacks in the country), that money will be paid to those QBs in exchange for those athletes doing a social media post about the company. So yes, it is a business endeavor. The point is that athletes should be able to engage in our free market system just as much as every other person who works in the space.[/quote]
Not saying I disagree with you about athletes being compensated, with parameters, just saying this concept and website sounds very sketchy to me. But hey, anyone can park their money wherever they want.
