Workflow
sports
icon
Search documents
College athletes can now save if they don't go pro due to NIL, says Creative Planning's Mark Doman
CNBC Television· 2025-10-03 20:26
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]
X @Bloomberg
Bloomberg· 2025-07-10 16:48
Industry Positioning - The article questions whether Red Bull is primarily an energy drink or a sports empire [1]