College athletics sees surge in nonprofits paying players
Posted: Sep 30, 2022 3:26 PM CDT
By JIM VERTUNO and PAT EATON-ROBB Associated Press
The new world of college athletes getting paid for endorsements has created a rapidly expanding pop-up industry.
Nonprofits are being formed to set up athletes with deals that pay them to promote charities.
The nonprofits are pitched as feel-good partnerships.
But they also raise questions of whether their mission it to support charities or exist primarily to funnel money to athletes for a tax deduction.
A bill has been filed in Congress to limit some of those tax breaks.