I see that endorsement deals are starting to pop at other schools; what do you think will be MO at PSU and how do you see this playing out with landing 4/5* recruits, will it now turn into regional recruiting e.g. players picking schools that offer the most exposure for $$ deals or staying with which coach gets me to the NFL...?
The way it looks Southern, it's whatever the traffic can bear. The thing that really disturbs me is the players can retain agents. It's supposedly only for negotiating endorsement deals, but not for negotiating with NFL teams. We'll see how that works out, LMAO!
I'm afraid this is the beginning of the end to college football as we know & love it.
This isn't paying the players, the schools do not pay them.
This is allowing athletes to sign endorsements with outside companies, or make their own money based on their image.
It is different from paying salaries.
I see that endorsement deals are starting to pop at other schools; what do you think will be MO at PSU and how do you see this playing out with landing 4/5* recruits, will it now turn into regional recruiting e.g. players picking schools that offer the most exposure for $$ deals or staying with which coach gets me to the NFL...?
What I think you will see is massive programs at the Universities to "help" athletes and their personal brands. Probably a lot of partnering with consultants on name, image, and likeness optimization and other things to help the athletes better position themselves.
I don't think this will benefit any locality in football per se, because it's basically nationwide coverage. However, I think you may see it's effects at a local level more in Basketball.
I have been thinking about this for quite some time back when this whole compensate the college player thing started...As a former D1 player I think it is great for the player with a few caveats...I strongly believe a portion of this money should be placed in a trust for the players...My personal take is give the kid 40% and stash the other 60% in a trust...I also feel each university is going to need to set up a special marketing department to assist these kids so that this is done the right way and to help these kids navigate through this process...My final concern has to do with time management for these kids as this adds another layer of distraction from their development...This is why I strongly advise holding money in a trust for these athletes...This is going to be the first time in 99% of these kids lives where they have access to sums of money and how they respond and are counseled is going to be really critical...I think we can all see the scenario where you have a kid who just signed a few endorsement deals worth about 30k or so and he gets to thinking why do I need to go to class this week...This has effectively turned these college athletes into professional players...That is my take on the players...
As far as the integrity of college sports is concerned it isn't too far fetched to see major universities with boosters with deep pockets use this as a recruiting tool...You are going to see the top kids out of high school going to the school that offers them the most lucrative endorsement deals...The college athletic scene is about to get very convoluted now...You will magically see the Schools who manage this the best become powerhouses in short order...
I have been thinking about this for quite some time back when this whole compensate the college player thing started...As a former D1 player I think it is great for the player with a few caveats...I strongly believe a portion of this money should be placed in a trust for the players...My personal take is give the kid 40% and stash the other 60% in a trust...I also feel each university is going to need to set up a special marketing department to assist these kids so that this is done the right way and to help these kids navigate through this process...My final concern has to do with time management for these kids as this adds another layer of distraction from their development...This is why I strongly advise holding money in a trust for these athletes...This is going to be the first time in 99% of these kids lives where they have access to sums of money and how they respond and are counseled is going to be really critical...I think we can all see the scenario where you have a kid who just signed a few endorsement deals worth about 30k or so and he gets to thinking why do I need to go to class this week...This has effectively turned these college athletes into professional players...That is my take on the players...
As far as the integrity of college sports is concerned it isn't too far fetched to see major universities with boosters with deep pockets use this as a recruiting tool...You are going to see the top kids out of high school going to the school that offers them the most lucrative endorsement deals...The college athletic scene is about to get very convoluted now...You will magically see the Schools who manage this the best become powerhouses in short order...
As a former D1 athlete myself I disagree. I don't know why some feel the need to consistently act like college athletes need to be protected from themselves. Specifically... the way we treated basketball players. Just about every other major sport has kids going pro out of high school, yet in basketball I constantly heard the refrain of kids needing protection, they might blow through the money, etc. etc. etc.
It is their money, the NCAA does not... nor the college have ANY right to tell them what to do with it. There is absolutely zero reason to give an entity made to oversee sports in college access to players personal income stream in any way. It's theirs, we need to get over it. If they blow through it, then they blow through it. At some point they need to be responsible adults, and this entire push is about them wanting to be adults and manage their own stuff.
If they lose it all, well... it happens in all walks of life. If colleges want to approach their players and advise them on stuff like this, that's great! Talk to them, show them how it can benefit them in the long run, etc. But in the end, it should 100% be their decision and not the NCAA's.
Well I am not singling out any sport here...I was a baseball player...I think this is needed across the board...If you think a 17 year old college freshman as I was at the time doesn't need some guidance than we just disagree...I see no harm in giving a kid some guidance to ensure that he OR she makes the most of the opportunities they are given in their developing years...You and I both know that the vast majority of 18 or 19 year old kids lack the maturity to handle their finances and the wisdom and maturity to properly handle what is available to them in this environment...At some point I agree they need to be responsible adults but isn't that what part of the college experience is supposed to be about? TEACHING them to evolve into responsible adults? Time will tell as to who's vision of this is correct...My life experience tells me that I will be pretty close as to how all of this unfolds...To throw these 17, 18 and 19 year old kids money unsupervised is a recipe for disaster without the proper support from the universities...I think these kids deserve to be compensated for the revenue they generate for the universities but I also think and strongly believe there needs to be guardrails in place for these young people as well...It is the right and responsible thing to do..
My thinking is that topped ranked HS players will look for the sweet deals because they are gonna get lot of push from family to do so; get it while you can so to speak. This may not really change the landscape as schools who are already gifting players (if that is actually happening) can now do so through the booster/alumni connections with a legal endorsement vs under the table ...What will be interesting is to see the types of endorsements, the amount $$ for the endorsement, and if there really becomes a power base change with truly elite players migrating to teams in large markets like Southern Cal, Texas, Miami, Columbus or spreading the wealth into smaller regions like PCNW, MW, NE, AC.
I think the main focus of endorsements is clearly on football and basketball however what does this mean e.g. wrestling, baseball, track and field, lacrosse? And what about sports that are not sanctioned by the NCAA e.g. crew, gymnastics; are those athletes eligible for pay?
Well I am not singling out any sport here...I was a baseball player...I think this is needed across the board...If you think a 17 year old college freshman as I was at the time doesn't need some guidance than we just disagree...I see no harm in giving a kid some guidance to ensure that he OR she makes the most of the opportunities they are given in their developing years...You and I both know that the vast majority of 18 or 19 year old kids lack the maturity to handle their finances and the wisdom and maturity to properly handle what is available to them in this environment...At some point I agree they need to be responsible adults but isn't that what part of the college experience is supposed to be about? TEACHING them to evolve into responsible adults? Time will tell as to who's vision of this is correct...My life experience tells me that I will be pretty close as to how all of this unfolds...To throw these 17, 18 and 19 year old kids money unsupervised is a recipe for disaster without the proper support from the universities...I think these kids deserve to be compensated for the revenue they generate for the universities but I also think and strongly believe there needs to be guardrails in place for these young people as well...It is the right and responsible thing to do..
Support yes, mandatory no. I'm never going to agree that 18 yo kids can be trusted to serve this country in the military, yet we can't let them make their own mistakes regarding money.
The support will be there, but I'm sorry at 18 yo it's on you to take the advice and support or not. Europe is flush with kids making millions in soccer at 17 and 18 years old, never seemed to be a huge issue.
https://www.fourfourtwo.com/features/why-do-so-many-footballers-end-broke-fourfourtwo-investigates
https://inews.co.uk/sport/football/bankrupcy-football-finances-190289
https://theundefeated.com/features/why-do-so-many-pros-go-broke/
I know all that, and it has nothing to do with the schools being able to make finances decisions mandatory. In fact, one of those articles supports my argument because: “Most players rebound, find gainful employment and are doing well”. They learn.
Again, I've said it multiple times... I'm all for having support structures in place and educating players about how to plan for financial success. That is great, but neither a school nor the NCAA has any business dictating player's personal finances. They are there to educate, not become feduciaries.
Well it appears that my concerns regarding recruiting didn't take long to come to fruition...Take a look at the Miami booster...Trust me...This is just the beginning and that is small potatoes as to what is to come...College football and College basketball has just become another professional league without the salary cap...I am thrilled for the players but this is a recipe for disaster...As I opined in my post from yesterday...The schools that have the best marketing departments, social media development teams and support systems along with the deepest pockets will become powerhouses in short order...Imagine a guy like T. Boone Pickens at Oklahoma State and what he would have done to lure the best players there? How about Oregon and Phil Knight if he was still there and involved? Kevin Plank and Under Armour with Maryland? All of the chicanery that was hidden is now out in the open...I am very curious to see how far this goes but my instincts tell me there will be no limits taken to ensure dear ole alma matter gets their players by well healed boosters...Let the bidding begin...
@psu61 Obviously the big revenue sports (Football and Men's Basketball) is where you are going to see most of the cash being doled out...I honestly do see it bleeding into the other sports as well...I honestly see this is a professional sports league without a salary cap...The sky is the limit for the elite players...I have posted the keys to this thing in my opinion...Marketing, social media experts & support departments on one hand in tandem with well healed and aggressive alumni organizations and booster clubs working in tandem...The schools that do this the best will be the ones that will be the future powerhouses...You are about to see how much money is really involved in this as it is all out in the open and LEGAL...A kid like Trevor Lawrence would have been a multi millionaire after his freshman season...I am very curious as to how far this all goes and how convoluted it gets...My initial take is let your imaginations run wild folks...Yes I think it is going to be mind blowing...
One last note...All the focus was on paying the players a salary...This to me is even more lucrative to the players because there is no limit as to how much compensation they can accrue...These kids can sign as many endorsement deals as they want...40 years ago the worry was a kid getting out of control at a frat party and doing something stupid...Now you are gonna have 18 and 19 year old kids with money to burn...Katie bar the door...Yes there will be kids that will handle it maturely but my bet is there will be more that wont...If I am wrong on all of this I will eat my crow but every fiber in my being says this is gonna be a disaster...
https://www.fourfourtwo.com/features/why-do-so-many-footballers-end-broke-fourfourtwo-investigates
https://inews.co.uk/sport/football/bankrupcy-football-finances-190289
https://theundefeated.com/features/why-do-so-many-pros-go-broke/
I know all that, and it has nothing to do with the schools being able to make finances decisions mandatory. In fact, one of those articles supports my argument because: “Most players rebound, find gainful employment and are doing well”. They learn.
Again, I've said it multiple times... I'm all for having support structures in place and educating players about how to plan for financial success. That is great, but neither a school nor the NCAA has any business dictating player's personal finances. They are there to educate, not become feduciaries.
In your post you stated," Europe is flush with kids making millions in soccer at 17 and 18 years old, never seemed to be a huge issue."
I don't follow soccer at all so I was curios on that aspect alone of your statement.
In my post, I never referenced college, schools, mandatory finances decisions or anything involving the college endorsement debate.
I purely googled soccer athletes financial issues and found the above links to articles. 2 out of 5 or 40% seems to be a pretty huge issue of soccer athletes mismanaging money.
https://www.fourfourtwo.com/features/why-do-so-many-footballers-end-broke-fourfourtwo-investigates
https://inews.co.uk/sport/football/bankrupcy-football-finances-190289
https://theundefeated.com/features/why-do-so-many-pros-go-broke/
I know all that, and it has nothing to do with the schools being able to make finances decisions mandatory. In fact, one of those articles supports my argument because: “Most players rebound, find gainful employment and are doing well”. They learn.
Again, I've said it multiple times... I'm all for having support structures in place and educating players about how to plan for financial success. That is great, but neither a school nor the NCAA has any business dictating player's personal finances. They are there to educate, not become feduciaries.
In your post you stated," Europe is flush with kids making millions in soccer at 17 and 18 years old, never seemed to be a huge issue."
I don't follow soccer at all so I was curios on that aspect alone of your statement.
In my post, I never referenced college, schools, mandatory finances decisions or anything involving the college endorsement debate.
I purely googled soccer athletes financial issues and found the above links to articles. 2 out of 5 or 40% seems to be a pretty huge issue of soccer athletes mismanaging money.
Your articles aren't about 17 or 18 year olds, they are about athletes in general. So nothing is really differentiating 18 to 19 yo kids out of high school and veteran players who retire after blowing through fortunes. 2 out of 5 is everybody, not just teenagers... who I was talking about. Perhaps I should have said Europe is not flush with young players blowing through their money any differently than older players, which was my main point but obviously not stated well. My apologies. Whether they went to college or not, some athletes piss their money away. It's a problem for athletes in general, not specific to young people because they didn't go to college.
I mentioned "mandatory" because the thread and my previous posts were about colleges mandating kids put money into trusts. At least 1 or two other posters supported this, and I was saying that schools have no business forcing kids to put money into something they don't want to... it is their money, an college should have no say in how they spend it. I've said previously I have no problem with colleges mandating a class or tutors so players can learn financial responsibility... but again not handing over control of their money. I'm all for teaching kids how to be responsible.
HOWEVER... I do actually believe pro sports could do it though... because they are the EMPLOYER. They are they ones paying the player, and they could do the trust thing easily. If you are employing them, you do have a right to put into the contract that some money will go to a trust. With colleges, my issue is they aren't paying players. It's sponsorship and endorsement money that they would have no right to dictate how it's spent, because that player is earning the money from someone else.
That's what I'm talking about.
Also, I don't believe this is unique to athletes either. Many people go bankrupt every year in the USA, and according to the National Endowment for Financial Education, "about 70 percent of people who win a lottery or receive a large windfall go bankrupt within a few years".
@roaminglion In the Navy Financial counseling is part of the training curriculum. A single letter of indebtedness could cause a Sailor to loose their security clearance and be potentially career ending. I couldn't even count how many times we had to send a young wife to Navy Relief Society for food to feed their kids because the young man and young woman had no concept of how to manage money or manage a bank account or keep track and balance a check book. Hell, some of the sailors don't even know how to wash their clothes or their ass!! Momma always did it. Or they didn't have a parental figure guiding them through life.
I think as a learning institution the schools should provide counseling/training to try and prepare the students and student athletes in the required life skills they will need to transition through life.
I agree with you 100% that it should not be mandatory or that the institutions try and control how an individual desires to spend their money.
Completely agree NavyLion. Schools should absolutely teach kids the value of money, how to spend it, how to save it, and the concepts of how to effectively manage your money.
The basics used to be be taught in HS. Why, by 8th grade most kids used to be able to make change for a buck!
@rip pfff Those days are gone! Try giving the cashier the difference to round the total off to the nearest dollar, so you won't get change back & see what confusion that stirs up!
Yep! That's a perfect example of where I'm coming from. I have lots of fun with that one at McDonald's drive thru!
Completely agree NavyLion. Schools should absolutely teach kids the value of money, how to spend it, how to save it, and the concepts of how to effectively manage your money.
The basics used to be be taught in HS. Why, by 8th grade most kids used to be able to make change for a buck!
Hell by the 8th grade, a lot of us had already been delivering papers, running a double entry ledger and already knew what it was like to get stiffed by a nonpaying customer and having to tell the SOB no more papers without paying up and that was me telling the customer, not momma.
