Weekly Roundup: NIL, Business of Athletes and Sports (May 8-14)

<p><strong>Audio Timeline:</strong></p><p>0:24 - <strong>Feel good stories</strong>: Donating entire NBA salary, US Open qualifier </p><p>2:08 - <strong>NIL</strong>: $100K to not transfer, Ohio State RB, first Nike woman athlete, Is the transfer model sustainable?</p><p>6:24 - <strong>Business of Athletes</strong>: $250k in prize money, smart dumbbell investment, Tom Brady and Naomi Osaka</p><p>10:27 - <strong>Sports Biz/Tech</strong>: WNBA expansion, PGA competitor, $125B for sports betting, and FIFA + EA Sports</p><p>Interesting Stat</p><p>This is wild. </p><p>Without ever broadcasting a game, Tom Brady is set to make more than double Tony Romo’s current contract. </p><p>The money aside, it’s great to see athletes take on major roles within other professions upon retiring (if Brady ever decides to). </p><p>Short Passage of The Week</p><p>"The sun will rise and set regardless. What we choose to do with the light while it's here is up to us. Journey wisely." </p><p>* Small steps, every day, will add up. </p><p>* Short-term discomfort for long-term peace.</p><p>* Pick your path: Work and burnout or work and rest.</p><p>* I am not what happens to me. I am what I choose to become.</p><p>* Don't get caught up on what could have been. If it should have been, it would have.</p><p><em>Passage by Alexandra Elle</em></p><p>Tweet(s)</p><p>Josh is an elite athlete and businessman (and someone I’ve learned a lot from).</p><p>Check out this thread where he breaks down his Wednesday and Sunday ritual. </p><p>Best quote from the thread: </p><p><strong>“I don’t have to be number one. But every day I wake up, I’m gonna chase the dude who is.”</strong></p><p>Here’s another post I enjoyed reading this past week:</p><p>Did you know…</p><p>Companies paying college athletes NIL deals are not required to withhold taxes, and will issue a tax statement reporting the gross income paid. </p><p>Thus, when a company agrees to pay an athlete $10,000 for sending out specified messages on social media, the athlete will receive a check for $10,000. </p><p>He/she is then required to report this income, and pay taxes. </p><p>The athlete can first deduct business expenses, such as agent commissions, from this income and pays tax on the net income.</p><p>Quote</p><p>I appreciate you reading The Petcash Post!</p><p>Enjoy the rest of your Sunday, and we’ll talk tomorrow. </p><p>Peace,</p><p>-AP</p><p>Extra Credit</p><p>This Shaq story is one my favorites </p> <br/><br/>This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit <a href="https://www.petcashpost.com?utm_medium=podcast&#38;utm_campaign=CTA_1">www.petcashpost.com</a>