OT:NIL deals

[Patsgofor4]

Michael Silverman (@MikeSilvermanBB) Tweeted:
Zay Flowers 1st BC athlete to sign major NIL deal: Use of a fully-loaded BMW X6 M50i (~$90,000) for his senior year, courtesy of McGovern Auto, a BC Athletics sponsor.
At Boston College, athletes are reaping the rewards of NIL benefits - The Boston Globe https://t.co/uHCvhzb1Yf

I’ve always been in favor of major college athletes getting paid, to comfortably cover the day to day costs of living which are not fully covered by scholarships, and also allow for some minor splurges, but this type of thing does not seems like a good idea at all….especially for the kid.

It sends the wrong message about the importance of luxury and bling, rather than practicality and long-term financial stability, even before their first professional contract. That type of mindset has been the cause of many bankruptcies for professional athletes who aren’t lucky enough to get set up for life with a big veteran contract (and even some who get that big deal).

It also may not be good for team-building….jealousy seems inevitable.

 

[Pape]

conflicted about this... Colleges, Universities & the NCAA itself have long profited on the athletic endeavors of college students to the tune of billions of dollars a year... which was systematically unfair to those guys and gals... but the NIL deals are going to open pandoras box to a lot of potential issues, the first and foremost manipulation of athletes based on the financial illiteracy... not sure how this will work in the long run, but its here to stay

 

[Patsgofor4]

conflicted about this... Colleges, Universities & the NCAA itself have long profited on the athletic endeavors of college students to the tune of billions of dollars a year... which was systematically unfair to those guys and gals... but the NIL deals are going to open pandoras box to a lot of potential issues, the first and foremost manipulation of athletes based on the financial illiteracy... not sure how this will work in the long run, but its here to stay

They definitely deserve to profit from their talent and hard work but there has to be a better way.

The kids would have been better off if the schools just deposited money into savings accounts which are overseen by people who truly have the students best interests in mind and who try to teach them the importance of money management and savings early on.

 

[Pape]

They definitely deserve to profit from their talent and hard work but there has to be a better way.

The kids would have been better off if the schools just deposited money into savings accounts which are overseen by people who truly have the students best interests in mind and who try to teach them the importance of money management and savings early on.

an industry will start, if it already hasn't, to manage this new influx of cash... just wait til they realize you gotta pay taxes on all that money... and if you play across state lines, will the athletes be subject to those state taxes based on income derived... could create quite a financial web... and how do you split off 5% of a 100k car for your agent?

i think these kids are ripe for exploitation... more to the point of players playing when not ready (cant red shirt my guy, too much money at stake!) playing while hurt (you cant sit this series out son, our booster who gave you a 100k car is in the stands and he wants to see you on the field not the bench!), playing in games because their sponsors demanding it (you gotta play in the fiery cheeto fiesta orange cheese dust bowl because your NIL says so, the NFL draft be damned!) ... things of that nature...

 

[venecol]

In a capitalist society where the Almighty Dollar rules, this is not surprising. The confluence of big money for athletes and increase in sports betting will further expose the level of corruption in these programs.

 

[*ChungFu*]

J.G. Wentworth will get your Jr. High student athlete's money today.

 

[BaconGrundleCandy]

Good for the kids.

Worker >>>>>> Company

No one is paying money and driving 50 miles to watch Saban or Bill coach air. Or Kraft and Bon Jovi in the owners box.

In a perfect world there would be something better but this is a good start.

I don't believe in the jealous aspect either. Most of these kids know what they're capable of and understand some guys are going to get paid and some aren't. Trust me there's a hierarchy and guys know where they stand. All it can do is get names out there and open doors in that regard.

I get the fact that some might not be accountant majors but bottom line they deserve a lot more than they were getting.
Like @Pape said I can see the money management aspect growing if this keeps up. It's not the 80's or 90's anymore. These kids are listening to Jay-z when he says buy property not cars. Guys like Gronk & Lynch live off endorsement deal and bonus money and save game checks.

It might be messy in the beginning but a lot of things start off that way and shape up for the better.

 

[farn]

Kids will be in awe of shiny cars. Here’s hoping that eventually students will see that these fancy vehicles aren’t worth as much as investments.

 

[Pape]

Good for the kids.

Worker >>>>>> Company

No one is paying money and driving 50 miles to watch Saban or Bill coach air. Or Kraft and Bon Jovi in the owners box.

In a perfect world there would be something better but this is a good start.

I don't believe in the jealous aspect either. Most of these kids know what they're capable of and understand some guys are going to get paid and some aren't. Trust me there's a hierarchy and guys know where they stand. All it can do is get names out there and open doors in that regard.

I get the fact that some might not be accountant majors but bottom line they deserve a lot more than they were getting.
Like @Pape said I can see the money management aspect growing if this keeps up. It's not the 80's or 90's anymore. These kids are listening to Jay-z when he says buy property not cars. Guys like Gronk & Lynch live off endorsement deal and bonus money and save game checks.

It might be messy in the beginning but a lot of things start off that way and shape up for the better.

The NCAA has preyed upon college athletics for ever... One of the greatest unjust enrichment schemes ever dreamt up... It is past time to even that up a bit... But I do strongly believe that there needs to be a way to enrich the student athletes and protect them at the same time... I just don't know enough about the whole program to even begin to comment about how to do it, or even if there is a structure already in place

 

[Triumph]

A Bad Man Wagon

 

[jah]

Potential scenarios, ranked by how ethical they are:

1. Just paying college athletes money like normal workers (commensurate with the revenue they generate)
2. Letting them get stupid sponsors
3. Making hundreds of millions of dollars while they destroy their bodies and get absolutely nothing for it

 

[Steve102]

Michael Silverman (@MikeSilvermanBB) Tweeted:
Zay Flowers 1st BC athlete to sign major NIL deal: Use of a fully-loaded BMW X6 M50i (~$90,000) for his senior year, courtesy of McGovern Auto, a BC Athletics sponsor.
At Boston College, athletes are reaping the rewards of NIL benefits - The Boston Globe https://t.co/uHCvhzb1Yf

I’ve always been in favor of major college athletes getting paid, to comfortably cover the day to day costs of living which are not fully covered by scholarships, and also allow for some minor splurges, but this type of thing does not seems like a good idea at all….especially for the kid.

It sends the wrong message about the importance of luxury and bling, rather than practicality and long-term financial stability, even before their first professional contract. That type of mindset has been the cause of many bankruptcies for professional athletes who aren’t lucky enough to get set up for life with a big veteran contract (and even some who get that big deal).

It also may not be good for team-building….jealousy seems inevitable.

Use of a 90k car for a year looks impressive. How much is the lease payment for 12 months? That's the real financial worth, not the 90k price tag.

 

[Chevy]

Kids will be in awe of shiny cars. Here’s hoping that eventually students will see that these fancy vehicles aren’t worth as much as investments.

How about the NCAA allowing cash only, to be held in an escrow account and released to the player after they successfully graduate or they reach age 30.