Friday, May 11, 2018

Michigan Friday: Jimmy Would Like to Compensate His Players With Amazon Stock

Jimmy last night got the key to a city in Ohio.  Yes, Toledo gave the key to its city to Michigan Football's leader during a fund raiser for individuals who can't afford legal aide. 

Jimmy wants to take the $2M they were paid by Amazon for their behind the scenes series and give it to the players after they graduate in some type of Amazon Stock grant. 

"We're exploring that right now. Can we get $1,000 of stock in Amazon possibly for deferred compensation?" he asked Thursday night while speaking at a fundraiser in Toledo. "... We're just kind of wondering if it's possible. We don't know if it is yet. We're just asking the question."

"I think that 1 percent [of high school football players] that is able to play college football to get their education and get their degree is what's best for them," he said. "That's a lot and it should be valued as such. I worry about making them employees for the biggest reason, I believe, is because of that ability to be taxed."

Coach is afraid if you make the players employees then they could be taxed on their scholarship which would create a huge tax bill every year for each athlete.   For example, the latest report I have seen is Michigan out of state tuition and room/board is $60,000 per year. 

On a side note, do you think Jimmy follows the stock market?  Amazon right now is trading for over $1,600 a share. 

Many jobs these days have stock options, why shouldn't college athletes?  :-)

  • Wichita State's Austin Reaves is now not making it to Ann Arbor this weekend but 2019 TX SF Jalen Wilson is.  Many believe Michigan has a great shot to landed the talented forward.

No comments: