unethical? (1 Viewer)

[TBD]

would you consider it uneithical if a commish takes the league fee from the league(s) he runs and puts it in a 6 month CD and make a little $. It would not make a lot of $ just enough to cover the commish's league fee(s).

 

[BLOX]

As long as the winner gets his $$ according to the league rules, who cares where the money sits during the season.

 

[Biabreakable]

Sounds like a smart move to me especialy if the commish runs multiple leagues.

As long as the winner(s) gets paid in a timely manner I would have no issue with this.

 

[TBD]

As long as the winner gets his $$ according to the league rules, who cares where the money sits during the season.

they will get their $.

 

[TBD]

Sounds like a smart move to me especialy if the commish runs multiple leagues.As long as the winner(s) gets paid in a timely manner I would have no issue with this.

2 leagues, fee is $150 each, 10 teams. $2700 total collected minus my fees

 

[Mystery Achiever]

as long as winners get paid promptly, and the money is not solicited/collected earlier than necessary to facilitate this, i don't see any issue here.

 

[coolnerd]

Honestly, I prefer to know that the commish sticks the money away from his regular checking or savings account. The fact he has the sense to earn more than .5-1.0% interest or whatever the heck basic savings accounts are earning makes me respect him more.

 

[Captain Hook]

Sounds like a smart move to me especialy if the commish runs multiple leagues.As long as the winner(s) gets paid in a timely manner I would have no issue with this.

2 leagues, fee is $150 each, 10 teams. $2700 total collected minus my fees

2 leagues, 10 teams, $150 each = $3000How did it get down to $2700?If you are telling me the commissioner plays for free, I look for a new league.The commissioner should pay the same amount to the Prize pool as everyone else in the league. The fees for the league website should be paid by the other nine teams and perhaps they should throw in a few bucks each to reimburse the commissioner for any administrative expenses, stamps, telephone calls etc. BUT, I have no problem with the commish putting the prize pools funds in any account he chooses AS LONG AS the league winners are paid promptly - not when the X time is up on his time deposit.

 

[Addai's Adidas]

Smart not to comingle funds.

 

[TBD]

Sounds like a smart move to me especialy if the commish runs multiple leagues.As long as the winner(s) gets paid in a timely manner I would have no issue with this.

2 leagues, fee is $150 each, 10 teams. $2700 total collected minus my fees

2 leagues, 10 teams, $150 each = $3000How did it get down to $2700?If you are telling me the commissioner plays for free, I look for a new league.The commissioner should pay the same amount to the Prize pool as everyone else in the league. The fees for the league website should be paid by the other nine teams and perhaps they should throw in a few bucks each to reimburse the commissioner for any administrative expenses, stamps, telephone calls etc. BUT, I have no problem with the commish putting the prize pools funds in any account he chooses AS LONG AS the league winners are paid promptly - not when the X time is up on his time deposit.

use CBS so $135 of the $150 commish's fee goes to CBSand the prize $ will be paid out the week after the SB, week 16. not after the 6 month CD is up

 

[fsufan]

i put my fee collections in my money market, the rate is around 5%. about the same as a CD

 

[code]

Our league does this, but we contribute the interest to the draft party fund...

 

[gianmarco]

Our league does this, but we contribute the interest to the draft party fund...

That's the ethical way to do it

 

[greenroom]

Sounds like a smart move to me especialy if the commish runs multiple leagues.As long as the winner(s) gets paid in a timely manner I would have no issue with this.

2 leagues, fee is $150 each, 10 teams. $2700 total collected minus my fees

2 leagues, 10 teams, $150 each = $3000How did it get down to $2700?If you are telling me the commissioner plays for free, I look for a new league.The commissioner should pay the same amount to the Prize pool as everyone else in the league. The fees for the league website should be paid by the other nine teams and perhaps they should throw in a few bucks each to reimburse the commissioner for any administrative expenses, stamps, telephone calls etc. BUT, I have no problem with the commish putting the prize pools funds in any account he chooses AS LONG AS the league winners are paid promptly - not when the X time is up on his time deposit.

use CBS so $135 of the $150 commish's fee goes to CBSand the prize $ will be paid out the week after the SB, week 16. not after the 6 month CD is up

Yes but depending on his relationship with the bank he may be able to break the CD with or without penalty. So to me it is a smart way to avoid pulling from the cookie jar.

 

[The Kansas Comet]

I've done this for the leagues I've been the commish for the last 5 years. I didn't want it in my regular accounts, and I use the interest to help defray league costs. So long as it doesn't delay the money being paid, I don't see anything unethical about it.

 

[LionsFan78]

Our commish did almost the exact same thing last year and put all of it (so we're told) towards a huge Super Bowl bash. Keg, food, poker tourneys, etc. We loved it, and can't complain about it one bit. Beats stuffing it under his pillow or keeping it in a drawer!

If you can own up and pay everybody in a timely manner, if for any reason you lose money on the deal, then I see nothing unethical about it.

 

[Pipes]

No it's not unethical at all. Hell he can bet in all in Vegas for all I care as long as everyone gets paid promptly after the season is over. If I were ever to be concerned about what happens to entry fees once given to the commish I'd quit that league asap.

 

[radballs]

I'm still trying to figure out how the 2% he might earn over 6 months would cover his entry fee.

If total fees are around $1.8K, he's only going to get $36 over six months. If the individual entry fee is $150, it's only getting him a little more than a fifth of the way home. Not to nit pick, but I wouldn't care where he put it and would feel maybe a bit more secure than if it was stuffed under his mattress. Guy sounds fairly intelligent to do that. At the same time, I don't think anyone should expect him to pay any of that interest back to the prize pool if that's what you were getting at.

 

[fsufan]

I've done this for the leagues I've been the commish for the last 5 years. I didn't want it in my regular accounts, and I use the interest to help defray league costs. So long as it doesn't delay the money being paid, I don't see anything unethical about it.

I like this idea. I run 2 dynasty leagues and sometime I need a replacement owner for a bad team. It is hard to find someone to pay full price for a bad team.

 

[fsufan]

I'm still trying to figure out how the 2% he might earn over 6 months would cover his entry fee.

If total fees are around $1.8K, he's only going to get $36 over six months. If the individual entry fee is $150, it's only getting him a little more than a fifth of the way home. Not to nit pick, but I wouldn't care where he put it and would feel maybe a bit more secure than if it was stuffed under his mattress. Guy sounds fairly intelligent to do that. At the same time, I don't think anyone should expect him to pay any of that interest back to the prize pool if that's what you were getting at.

put in 3K, he would make about $75 in 6 months at 5%http://www.uboc.com/uboc/cda/views/uboc_ca...00.html%3Fc%3D0

 

[Neil Beaufort Zod]

would you consider it uneithical if a commish takes the league fee from the league(s) he runs and puts it in a 6 month CD and make a little $. It would not make a lot of $ just enough to cover the commish's league fee(s).

I think it's smart to put the money "away" from your regular accounts. You don't want a spouse (or yourself) somehow thinking you have money you don't really have. So a CD or MM is just fine. I don't think it's any fun to play in a league where you don't trust the commish, and if you trust him then it doesn't matter what he does with the money. If everyone gets paid, they get paid.I'm surprised some masochistic commishes haven't come to this thread to state that they would NEVER keep that money, and would insist on dividing it up equally instead. Some people seem so eager to hurt themselves to prove how "fair" they are that some leagues get a free beast of burden.

 

[benbadman]

It's a pretty smart thing to do, and a great reason for people to PAY THEIR MONEY EARLY. Also, if the league $$ is just chilling in a checking account, things can just happen to it. There's dumpster divers, identity theft online, and many things that could make that FF pot$$ magically vanish.

Actually my league has a commish (me) and another guy is the treasurer. Shared responsbilities.

 

[lions327]

As long as 100% of the league fees are paid out, then I don't really care what he does with the money while he has it. He can bury it in his yard if he wants to.

 

[erymer]

I've done it before and I let enverone know I was doing it ahead of time. It was a nascar pool and I put the money into a mutual fund. It was a PITA to keep up with though and this way I got a little something for my troubles. As long as the money gets paid out to the winners on time it shouldn't be an issue.

 

[faulkfan]

I've done it before and I let enverone know I was doing it ahead of time. It was a nascar pool and I put the money into a mutual fund. It was a PITA to keep up with though and this way I got a little something for my troubles. As long as the money gets paid out to the winners on time it shouldn't be an issue.

Bingo!Full discolsure to your leaguemates is essential and to be quite honest, if they like it it then it's okay. If they don't, then it's not.