This is another concept of unintended consequences because the goal was to get athletes from disadvantaged homes who are having problems living on scholarship a few more dollars. They'd have been happy with5 to $10,000. Um but all of a sudden SB206 passes in 2020 in California says that you can compensate athletes and they can have marketing directors.Now you have 15year-olds branding themselves, marketing themselves. The concept of amateurism, not that it was ever pristine, was a long way outside the. ...

I am joined by Robert Griffin, the third former college football star, Heisman Trophy winner, then NFL star for the then Washington Redskins. Now, of course, the commanders and then transitioning to a star broadcaster on ESPN and now on Fox. RG three.Let me you know who was the first person that called you. RG, three. Curious.Yeah, yeah. So I used to be called rlg three in high school, which, you know, doesn't quite have the same ring to it. You know, some people called me RT, r2 d2, but it was actually a b ...

I think what NIL has done was helped to bridge a gap and so we used to talk about at the WNBA you'd have these great players in college and they'd come to the WNBA and the fan base would not carry over. Now thanks to NIL you've got wonderful brands being built of these players at the college level and that has bridged the gap. So they go to the WNBA now and you see their fans following them but playing professionally hasn't hurt their ability to make money.They still have the same sponsors if not more. Uh, ...

College Football Playoff Expansion - The expansion to a 12-team playoff field, coupled with new rules, is leading to the inclusion of unexpected teams [3] - Certain conference champions, like Memphis from the American Athletic Conference, receive guaranteed bids regardless of their overall ranking [4] - Virginia's high ranking within the ACC would currently secure them a playoff spot [5] Team Dynamics and Coaching - Indiana's football program has become competitive, partly due to NIL (Name, Image, Likeness) deals [6] - Indiana's coach, Kurt Senetti, has successfully recruited players and coached the team to a higher level of performance [7][8] - Quarterback Fernando Mendoza's performance has significantly contributed to the team's success [8] Instability and High Expectations - Several traditionally strong college football programs, including LSU, Florida, Auburn, and Penn State, have experienced significant setbacks, leading to coaching changes [9] - The transfer portal and NIL deals have increased the level of chaos and unpredictability in college football [10] - High expectations and increased financial investment from schools and boosters have created a high-pressure environment for coaches, where even a three-game losing streak can result in termination [11]

Financial Literacy Education - Creative Planning is teaching financial literacy to young athletes, starting with high school players, recognizing the early influx of potential earnings [2][3] - The company offers internships to professional athletes to study their portfolios and finances, with plans to extend this to college athletes [6] - The firm manages approximately 100 professional athletes' finances across NFL, MDA, and Major League Baseball [3] NIL (Name, Image, Likeness) Landscape - NIL presents a major financial opportunity for collegiate athletes, allowing them to earn six to seven figures without student loans or housing costs [4][5] - The NIL landscape is described as the "wild west," with varying state regulations and tax implications, especially for high school athletes under 18 [7] Athlete Statistics and Opportunities - Only 03% of over 538,000 high school basketball players are invited to the Wooten 150 [4] - Only 03% of Division One college basketball players make it to the NBA [4] - Players have options beyond college, including professional leagues overseas, making them more like pro athletes at a younger age [11] Athlete Financial Awareness - High school athletes are increasingly aware of financial matters and seek to understand their money [6][8] - Athletes have access to vast online information, but it's crucial to filter out misinformation, particularly on social media [9]

College Athletics Transformation - College athletics is evolving with professional elements, but core values of education and player development remain [2] - Student-athletes are now also entrepreneurs, managing their name, image, and likeness (NIL) for revenue generation [3] - Universities are responsible for educating athletes on taxes, brand building, and contract negotiation [4][5] Financial and Commercial Opportunities - Universities are exploring commercial activities to increase revenue, including expanding the college football playoff and renegotiating TV contracts [7][8] - A new expense of $205 million (20.5% million) has emerged, requiring budget recalibration [8] - Private equity firms are showing interest in investing in college athletics, but state institutions face complications due to governance and lack of equity [9][10][11] Challenges and Considerations - Universities must be creative in seeking investments outside of private equity, focusing on donors rather than investors [14][15] - Maintaining a balance between commercial interests and the student-athlete experience is crucial [18] - The relationship with student-athletes is evolving, requiring transparent conversations about business aspects [18]

NIL (Name, Image, Likeness) and College Athletes - NIL deals provide college athletes with income, with some earning $40,000-$60,000 annually, even without significant playing time [1][3] - Some college athletes are earning more from NIL deals than they might earn in their first 10 years after graduation, potentially leading them to stay in college longer [3][4] - Many college athletes are not financially literate and are spending their NIL earnings unwisely [4] - Agents are taking fees from NIL deals that are higher than the standard 3% charged to professional athletes, sometimes ranging from 5% to 10% [3] Financial Management in Professional Sports - The average NFL career lifespan is three years, and 80% of NFL players go broke within five years of leaving the league [12] - Undrafted players may have a stronger incentive to manage their money wisely due to the lack of guaranteed income compared to first-round picks [4][13] - Maintaining a consistent lifestyle and saving a financial reserve can help athletes avoid anxiety and financial difficulties after their playing careers end [4][6][9] - Some athletes make the mistake of trying to emulate the spending habits of higher-paid players without having the same level of income [14] Investment Strategies - Cryptocurrency, particularly Bitcoin, has shown significant appreciation as an investment [20][21] - The interviewee first bought Bitcoin in 2016 and has continued to invest periodically using dollar-cost averaging [21][22] - The interviewee is hesitant to use leverage with crypto investments due to the risk of having to sell at a loss [25][26] Generational Wealth - Investing for the long term and utilizing tax-advantaged structures like Roth IRAs and 529 plans are important for building generational wealth [30] - Estate planning and insurance are crucial for ensuring financial security for future generations [31] - Educating children about financial management is essential for them to manage and grow their own wealth [31][32]

Compensation & Profitability - The industry acknowledges the significant revenue players generate for universities [1] - The industry suggests players should have opportunities to earn profits [1] - The industry believes that Name, Image, and Likeness (NIL) opportunities should enable players to earn money [2] Socioeconomic Impact - The industry recognizes the potential for players to earn life-changing money that may not be accessible otherwise [2] - The industry highlights the potential for earnings to positively impact players' families [2]

NCAA Rule Change Impact - NCAA 允许学生运动员从姓名、形象和肖像中获利的规则变化，但行业认为为时已晚 [1] - 部分大学篮球明星现在优先考虑 NBA 选秀和海外选项以赚钱 [1] Athlete Prioritization - Jalen Rose 表示 NCAA 的规则变化“迟到了 25 年” [1] - 行业观察到一些大学篮球明星现在优先考虑 NBA 选秀和海外选项 [1]

Financial Planning for Athletes - Creative Planning assists professional athletes in managing and investing their money, especially after receiving large sums [1][2] - The key is to save the money until understanding how to manage it properly [3] - Sudden wealth can disappear quickly if not managed well [4] - Financial service providers (financial advisors, estate planning attorneys, CPAs) should communicate with each other to avoid inefficiencies [12][13] Advice for Young Athletes - Living better than peers your age is already a win; avoid comparing yourself to others in terms of spending [6] - Consider using the money for down payments on homes or helping family [7] - Only 50% of NBA first-round picks get a second contract with the same team [7] NIL (Name, Image, Likeness) and College Sports - Some high school athletes are being offered major six-figure NIL deals before starting college [10] - The sustainability of college sports ecosystems with NIL money is unclear [10] - There are state-by-state rules regarding whether players can get paid at a young age [11]