article Will the NCAA Investigate former Duke player Lance Thomas?

[MJAlltheWay24]

Whether Duke/Coach K knew about this or not...doesn't it still fall in the umbrella of "Lack of Institutional Control"? Which I think is kinda ridiculous, but still there.

[banana slug]

I've often wondered, why doesn't the IRS get involved with these incidents (see Cam Newton, Tyrelle Pryor, et al).

[Watusi]

I don't know. I'm pretty sure Anthony Davis could have pulled that off this year.

Not in my jewelry store. :eek:

[PurplePride92]

Whether Duke/Coach K knew about this or not...doesn't it still fall in the umbrella of "Lack of Institutional Control"? Which I think is kinda ridiculous, but still there.

 

I could be wrong but I think there needs to be a bunch of things to happen for "Lack of Institutional Control" to come into play.

[MJAlltheWay24]

I could be wrong but I think there needs to be a bunch of things to happen for "Lack of Institutional Control" to come into play.

 

Yeah, I have no idea what constitutes that. I feel like it's just a loose phrase that means the NCAA can bust you for about anything they want lol.

[mobaar]

Whether Duke/Coach K knew about this or not...doesn't it still fall in the umbrella of "Lack of Institutional Control"? Which I think is kinda ridiculous, but still there.

 

I wouldn't think so, but it would fall under improper benefits.

[Randy Parker]

From what I understand, the biggest issue at this point is not the $30k, but rather the $67k, right?

[plantmanky]

I've often wondered, why doesn't the IRS get involved with these incidents (see Cam Newton, Tyrelle Pryor, et al).

 

Why would they get involved? If I go buy 100K in jewelry the IRS will never know.

[banana slug]

Why would they get involved? If I go buy 100K in jewelry the IRS will never know.

 

My comment was not directed toward the purchase of the jewelry or anything else, but where the money comes from. If college players are receiving "pay for play",

it is unreported income. By IRS code, this can not be considered a 'gift'. I am taxed on everything but the air that I breathe, why should they get a pass. We're not talking about chump-change; apparently the going rate for an All-American basketball player is $200K.

[plantmanky]

My comment was not directed toward the purchase of the jewelry or anything else, but where the money comes from. If college players are receiving "pay for play",

it is unreported income. By IRS code, this can not be considered a 'gift'. I am taxed on everything but the air that I breathe, why should they get a pass. We're not talking about chump-change; apparently the going rate for an All-American basketball player is $200K.

 

Again how would they know, the kid may never even file a tax return yet. Actually can/do scholarship athletes file a tax return? They dont get taxed on their scholarship do they? If they had a PT job that brought in over the amount needed to file a return wouldnt that create a flag for the school?

[mobaar]

From what I understand, the biggest issue at this point is not the $30k, but rather the $67k, right?

 

As far as the lawsuit with the jewelry store, yes. As far as the NCAA is concerned, they should be wondering where he got the $30k for the down payment, and why the store would have extended almost $70k in credit to a college kid with no job.

[plantmanky]

As far as the lawsuit with the jewelry store, yes. As far as the NCAA is concerned, they should be wondering where he got the $30k for the down payment, and why the store would have extended almost $70k in credit to a college kid with no job.

 

Why should it be a concern of the NCAA how a business chooses to establish/give out credit to its customers. Since when does the NCAA oversea commerce?

[PurplePride92]

Why should it be a concern of the NCAA how a business chooses to establish/give out credit to its customers. Since when does the NCAA oversea commerce?

 

Because if it isn't normal to loan out 67K in jewelry to a senior in college then it can be seen as an improper benefit which is against the rules.

[plantmanky]

Because if it isn't normal to loan out 67K in jewelry to a senior in college then it can be seen as an improper benefit which is against the rules.

 

How do you know? Many many college players that are leaving for the NBA or NFL get these nice cars and such well before they are officially drafted, someone has to give them a line of credit?

[Randy Parker]

How do you know? Many many college players that are leaving for the NBA or NFL get these nice cars and such well before they are officially drafted, someone has to give them a line of credit?

 

Sometimes agents give them an advance, of sorts. Sometimes I'm sure it's crooked.