Holloway

[Section112]

Without knowing for sure obviously, there had to be ways to “legally” even at that time, redirect funds. Donors paid what? 1/3 of practice faculty? 20 million?

Of those, the big donors didn’t pay all the money in one lump sum, it was probably promised in future installments. While the money was still in the hands of the donors, they admin could have reached out to those donors to say hey can you reduce the amount by this and send the remainder to our NIL fund. Then borrowed a little more money in bonds.

Please correct me if this doesn’t sound conceivable.

Yes and no but I agree with your sentiment. Direct NIL contributions are not tax deductible. That could certainly affect what a specific donor might do. And some donors may see the value of the practice facility and may not want to pay players directly. We get it, but everyone might not. Finally Seton Hall is not a risk taker or early adopter in any way (understatement of the year right there).