A big concern is whether or not NIL fund raising is sustainable here at SJU. Big commitments have been made to players, on a per season basis. Like virtually all schools, not all the commitments to players are in the bank. Almost certainly, nationally some collectives will default on their commitments this year (Storm marketing will not).
In just a few weeks the annual anticipated annual raise for 24-25 has increased dramatically, to the $3 million range. This is more than the entire athletic department annual donations received.
My great fear is that the cost to run a top basketball program will increase well above $3 million, much like professional sports free agency skyrocketed salaries.
As reported by Otis, the U Michigan collective was just granted charitable status, a surprise considering what now appears to be a misinterpretation of an IRS ruling to the contrary. However any collective granted this status will have to do legitimate charitable work, with athletes being reasonably compensated for work they have done. So for example, a charitable NIL collective paying an athlete $25000 to work at a basketball clinic would jeopardize charitable status.
However, infeel strongly that for individuals to support NIL, a charitable deduction is an important attribute.
Therefore it is becoming increasingly important that the Pitino era gets off to a great start with an ncaa post season.