Last Updated on June 11, 2022
This post will be updated as new deals are made public. Contact me if you have a new deal I should add.
Car deals were often the example given when we all talked about the opportunities name, image and likeness might bring for student athletes. Dealerships aren’t disappointing, jumping right in during the first two months of this new NIL era.
So far, deals have mostly been for football student athletes, but there has been one announced for a men’s basketball player. The deals made public include:
Myles Brennan (LSU Football, Quarterback)
Dealership: Hollingsworth Richards Ford
Deal brokered by: Matchpoint Connection
Vehicle: Ford F-250
First NIL Car Deal with LSU’s Myles Brennan Exposes Risk for Brands
Derek Stingley Jr. (LSU Football, Cornerback)
Dealership: Jimmy Granger’s Natchitoches Ford
Vehicle: Ford ShelbyGT 500
Bryce Thompson (Oklahoma State Basketball, Shooting Guard)
Dealership: Bill Knight Ford of Stillwater
Vehicle: Ford Mustang
Jack Sawyer (Ohio State Football, Defensive End)
Dealership: Mark Wahlberg Chevrolet
Vehicle: Chevy Silverado
Quinn Ewers (Ohio State Football > Texas, Quarterback)
1st Deal
Dealership: Ricart Automotive
Vehicle: Ford F250 Super Duty
2nd Deal
Brand: Aston Martin
Deal: Details unknown
Jayden Daniels (Arizona State Football, Quarterback)
Dealership: Jones Ford Verde Valley
Vehicle: 2020 Ford Mustang GT Premium
Kenny Pickett (Pittsburgh Football, Quarterback)
Dealership: Bowser Automotive
Vehicle: GMC Sierra
Haskell Garrett (DT), Zach Harrison (DE), C.J. Stroud (QB), Chris Olave (WR), Miyan Williams (RB) and Teradja Mitchell (LB) (Ohio State Football)
Dealership: Coughlin Chevrolet
Deal brokered by: NIL Management
Vehicles:
Chris Olave – 2021 Chevy Camaro SS
CJ Stroud – 2021 Chevy Z71 Silverado with the SCA Black Widow Package
Haskell Garrett – 2021 Ford F-150 with the SCA Black Widow Package
Zach Harrison – 2020 Chevy Tahoe Limited
Teradja Mitchell – 2021 Chevy Camaro RS
Miyan Williams – 2022 KIA K5
Spencer Rattler (Oklahoma Football, Quarterback)
Dealership: Fowler Dodge
Vehicles: 2021 Ram TRX or a 2021 Widebody Charger Scat Pack
Wan’Dale Robinson (Kentucky Football, Wide Receiver)
Dealership: Paul Miller Ford
Deal brokered by: The Virtus Brand
Vehicle: pending confirmation
TreVeyon Henderson (Ohio State Football, Running Back)
Dealership: Ricart Used Car Factory
Deal brokered by: NIL Management
Vehicle: Chevy Camaro
Bryan Bresee (Clemson, DT)
Dealership: Fred Caldwell Chevrolet
Vehicle: 2021 Silverado RST with the Rocky Ridge package
Bresee will appear in TV, social media, radio and digital campaigns for the dealership
Josh Oduro (George Mason Basketball, Forward)
Dealership: Jim McKay Chevrolet
Vehicle: 2018 Chevy Malibu
Part of the deal is reportedly that Oduro will wear Jim McKay attire at all of his press conferences.
Desmond Ridder (Cincinnati Football, QB)
Dealership: Blue Grass Automotive
Vehicle: Range Rover (unconfirmed but pictured in Twitter announcement)
Tyler Washington (Kentucky Basketball, Point Guard)
Dealership: Porsche Louisville
Representation: REP1 Basketball
Vehicle: Porsche Cayenne
Denzel Burke (Ohio State Football, Defensive Back)
Dealership: Mark Wahlberg Chevrolet
Representation: NIL Management
Vehicle: 2021 Chevy Camaro SS
Remy Martin (Kansas Basketball, Point Guard)
Dealership: Crown Toyota
Representation: 6th Man Strategies
Vehicle: 2022 Toyota Camry
Anthony Richardson (Florida Football, Quarterback)
Dealership: Gainesville Chrysler Dodge Jeep Ram
Representation: Darren Heitner and Deiric Jackson
Vehicle: 2021 Dodge Durango R/T
Deal notes: This deal is through the end of the 2023 season. He gets to exchange vehicles every 3-6 months throughout the term.
Jaxon Smith-Njigba (Ohio State Football, Wide Receiver)
Dealership: Ricart Automotive x Rabid Customs
Representation: NIL Management
Vehicle: 2022 Ford F-150 Lariat Custom
Jared Casey (Kansas Basketball, FB)
Brand: Lewis Automotive Group
Deal: Details unknown
Bijan Robinson (Texas Football, RB)
Brand: Lamborghini of Austin
Deal: Details unknown
Nijel Pack (Miami Basketball,
Brand: LifeWallet ($800,000 deal that includes a new car)
Deal: Details unknown
CJ Stroud (Ohio State, QB)
Brand: Sarchione Auto Gallery
Deal: Mercedes G Wagon (originally reported as a Bentley Bentayga; he can swap vehicles every 45 days)
Jocelyn Alo (Oklahoma Softball, Utility)
Brand: Fowler Automotive
Deal: 2022 Toyota 4Runner
Leonard Taylor (Miami Football, DT)
Brand: Ocean Automotive Group
Deal: 2021 Dodge Charter
Other Car-Related Deals for Student Athletes
There have been other car-related deals that haven’t involved student athletes receiving vehicles. Some of those have included:
Mac May (UCLA Volleyball, Outside/Opposite Hitter)
Brand: Mercedes
Deal: Cash for personal appearances and social media promotion
Haskell Garrett (Ohio State Football, DT)
Brand: Cruisin Classics
Deal: Storage for a 1972 Cadillac Coup de Ville Garrett bought with NIL money he’s made
UNLV Men’s Basketball
Brand: Findlay Toyota, Logic Commercial Real Estate and other Southern Nevada supporters
Deal: $500/month car allowance for one year
Arkansas Softball
Brand: Everett Buick GMC
Deal: Details unknown
Tax Implications for Student Athlete Car Deals
Although details vary by deal, most of these deals include some combination of social media promotion and personal appearances. Others have mentioned print and broadcast advertising possibilities as well.
I asked CPA Katie Davis (who was previously on my podcast talking taxes for student athletes) of James Moore & Co. to break down for us the tax implications for student athletes accepting these deals. She used the first deal made public, LSU quarterback Myles Brennan’s, as an example.
For purposes of this example, Davis said she assumed the truck was a loaner for football season. She says the auto dealer will issue Brennan a 1099 for the fair market lease value of the truck. Assuming an average lease value on a Ford F-250 of $714/month, Brennan would receive a 1099 for $3,570 for 2021. That deal alone (if was Brennan’s only NIL deal) would fall below the US standard deduction of $12,500.
“He could also be subject to state taxes: Mississippi if he still has residency there, and Louisiana as the income was sourced in that state,” said Davis. “For both states, the truck value also falls below their thresholds for incurring tax. However, he still has to file a US tax return to pick up the 15.3% self-employment income.
“For the truck alone, that would be $546 of tax to go toward Social Security and Medicare. Then, the act of filing a federal return may require the filing of state returns depending on the state and residency status, even if no tax is due.”
“In Brennan’s case, he could generate taxable income (income exceeding deductions/exemptions) at the federal level and in multiple states by the time you take into account other NIL deals plus his taxable cost of attendance and other education-related benefits,” said Davis.
“I’m not saying taxes are a bad thing or a reason to not allow student athletes to benefit from their NIL or additional education-related awards. But I think it’s incredibly important for some tax basics to be included in the schools’ NIL financial literacy education programs. Student-athletes should understand their responsibilities, how 1099 income differs from W-2 (which their parents may be more familiar with), and the potential state tax requirements.
“They should also understand that non-cash compensation is still subject to tax, which has to be paid with cash, so that cash should be set aside. There could also be penalties if taxes are paid in a lump sum when tax returns are filed instead of throughout the year. Also, there are some tax benefits the high earners could take advantage of to reduce their taxable income, such as putting money in an IRA.”
The NCAA’s new NIL policy, as well as state and institutional policies, all allow student athletes to hire financial advisors, lawyers and agents to assist with navigating these new opportunities.
Want to check out more NIL deals? Check out our NIL Quick Links for more:
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