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DE Chase Young (Nagurski, Hendricks, Bednarik, Silver Football, NFL DROY, New Orleans Saints)

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Dryden said:
It’s “2 legit 2 quit.”

:hoke:
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You couldn't see it but I got the hand signals right

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Fungo Squiggly said:
Preach! Was he charged an appropriate interest rate on the loan? No such thing as an interest free loan in the IRS’s eyes, either, which means the failure to charge interest is a gift. I don’t care if OSU gets the death penalty!
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Last I heard was that private person to person loans below $10k are not regulated, so at least by IRS standards are not considered a gift when no interest is charged. Loans above that amount, whatever interest was not charged below fair market would be considered a gift but would be the responsibility of the lender to pay tax on (assuming it exceeded annual exclusion limits).

Unfortunately I doubt the NCAA is following IRS guidelines for their rules.

The rumor mill is saying it was a $2k loan. If is really is something that small I don't even see what the fuss is about nor why it being fully repaid means much so long as it did not come from a booster or agent, or someone with a commercial or recruiting motive behind it. It is their arrangement and the terms could be anything, including the loan is repaid in a lump sum in 4 years. Or annual payments of $10 with a balloon payment for the balance in 4 years.
 
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lowbuck said:
Last I heard was that private person to person loans below $10k are not regulated, so at least by IRS standards are not considered a gift when no interest is charged. Loans above that amount, whatever interest was not charged below fair market would be considered a gift but would be the responsibility of the lender to pay tax on (assuming it exceeded annual exclusion limits).

Unfortunately I doubt the NCAA is following IRS guidelines for their rules.

The rumor mill is saying it was a $2k loan. If is really is something that small I don't even see what the fuss is about nor why it being fully repaid means much so long as it did not come from a booster or agent, or someone with a commercial or recruiting motive behind it. It is their arrangement and the terms could be anything, including the loan is repaid in a lump sum in 4 years. Or annual payments of $10 with a balloon payment for the balance in 4 years.
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I think you are right on there....unless the money was used to acquire an income producing asset, in which the IRS does still care about interest. Either way, I was definitely joking with the original post. :lol:
 
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Powair7s said:
Obvious question...why didn't the"friend" pay the money directly to the family? Or just directly get their plane tickets? Maybe I'm taking this too literally and Chase wasn't actually the middleman?
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I think you’re underestimating how overzealous Doug Archie is at self reporting and making mountains out of mole hills. OSU has a long track record of making major violations out of minor infractions that could have been handled silently with some back-channel paperwork.

Also, this infraction occurred (allegedly) 11 months ago. It didn’t become AD knowledge until the day of the Wisconsin game. Reads like somebody with a field pass had an axe to grind.
 
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Powair7s said:
Obvious question...why didn't the"friend" pay the money directly to the family? Or just directly get their plane tickets? Maybe I'm taking this too literally and Chase wasn't actually the middleman?
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If the person really isn't connected to an agent or booster and it was really someone who was connected to the family, even in a loose way, it was probably a thing where he offered him up a casual loan, kind of like "I know you will be able to pay me back at some point, I'm not worried"

If it was to take the fam to the game then it probably turned into a thing where the family didn't think it was a big deal and mentioned how they got the funds to some asshat who was trying to turn this story into some type of profit for themselves.

The limited info makes this sound like nothing nefarious and at worst a case of poor optics/judgement. I guess we won't know for sure until the official details are released.
 
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lowbuck said:
If the person really isn't connected to an agent or booster and it was really someone who was connected to the family, even in a loose way, it was probably a thing where he offered him up a casual loan, kind of like "I know you will be able to pay me back at some point, I'm not worried"

If it was to take the fam to the game then it probably turned into a thing where the family didn't think it was a big deal and mentioned how they got the funds to some asshat who was trying to turn this story into some type of profit for themselves.

The limited info makes this sound like nothing nefarious and at worst a case of poor optics/judgement. I guess we won't know for sure until the official details are released.
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I’m seeing reports that it was to fly his girlfriend to the Rose Bowl. If that’s the case, it pretty much answers these questions regarding his family.
 
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