Quote:
PA writes
Some items you should consider:
1) appearance fees aren't a wash. While most WNBA players won't get shoe contracts, most can make solid appearance fees for Nike, Adidas, etc. at a multitude of events. Same for apparel, etc. those fees alone will trump 99+% of NIL earnings. And the WNBA significantly helps players on rookie contracts earn $ through appearances.
2) most college basketball athletes earn their Bachelors degree by the end of their 3rd season due to attending every Summer session [including both before their freshman season]. The question of educational "value" isn't about $ [cost of attendance] but about future value of Masters in their chosen field [versus Bachelors degree].
3) almost all overseas contracts include a beginning/end travel reimbursement/provision. 99+% include housing and generous per diem. Most include car service, local wireless phone, internet access, etc. The "expense" item mentioned simply doesn't apply to the overseas part of their work year [but would apply to WNBA portion].
4) limited earning window. Most players have a limited window to play ball. Every year in college means one less year as a pro. The vast majority of players will earn far more annually playing basketball [even if only a few years] than at any other future profession. Maximizing their years of playing professionally is sound logic.
5) time value of money. Since they earn more playing ball, turning on that cash flow sooner and having it last longer is a sound choice due to the time value of $. Better to earn the bigger paycheck now than earn it later.
The big issue isn't really cash. It is readiness and opportunity acquisition. Most players have a limited window to demonstrate their market value. Once the public perception of their value is diminished, it takes years to rehab. Players need to be ready to contribute [even if merely as a rotation player] from Day One. Players also need to be "marketable" from Day One. The ability to speak in public, avoid controversy, present a dynamic image, etc. In most ways, "off the court" earnings is as much about style is it is about playing substance. Example: Anna Kournikova was never really a top tier tennis player but over her career earned far more than any of her contemporaries [due to image]. LeBron James earns at least $10 off-court for every $1 he earns on-court. But even "non-marketable" players need to be ready. Numerous WNBA All-Stars who will never make much [if any] $ from endorsements earn $250,000-$500,000 annually in overseas Winter play simply because of that All-Star tag.. And the WNBA significantly helps players on rookie contracts earn $ through appearances.
2) most college basketball athletes earn their Bachelors degree by the end of their 3rd season due to attending every Summer session [including both before their freshman season]. The question of educational "value" isn't about $ [cost of attendance] but about future value of Masters in their chosen field [versus Bachelors degree].
3) almost all overseas contracts include a beginning/end travel reimbursement/provision. 99+% include housing and generous per diem. Most include car service, local wireless phone, internet access, etc. The "expense" item mentioned simply doesn't apply to the overseas part of their work year [but would apply to WNBA portion].
4) limited earning window. Most players have a limited window to play ball. Every year in college means one less year as a pro. The vast majority of players will earn far more annually playing basketball [even if only a few years] than at any other future profession. Maximizing their years of playing professionally is sound logic.
5) time value of money. Since they earn more playing ball, turning on that cash flow sooner and having it last longer is a sound choice due to the time value of $. Better to earn the bigger paycheck now than earn it later.
The big issue isn't really cash. It is readiness and opportunity acquisition. Most players have a limited window to demonstrate their market value. Once the public perception of their value is diminished, it takes years to rehab. Players need to be ready to contribute [even if merely as a rotation player] from Day One. Players also need to be "marketable" from Day One. The ability to speak in public, avoid controversy, present a dynamic image, etc. In most ways, "off the court" earnings is as much about style is it is about playing substance. Example: Anna Kournikova was never really a top tier tennis player but over her career earned far more than any of her contemporaries [due to image]. LeBron James earns at least $10 off-court for every $1 he earns on-court. But even "non-marketable" players need to be ready. Numerous WNBA All-Stars who will never make much [if any] $ from endorsements earn $250,000-$500,000 annually in overseas Winter play simply because of that All-Star tag.
1) used "most" x 2 . Where is your evidence? Speculation without it. See dictionary. "those fees alone will trump 99+% of NIL earnings...." Really? There is only about 130-150 players in the whole of the WNBA. Just in college football alone there are quiet a few millionaires just for some of the QBs all off of NIL. wbb celebs are also starting to cash in on their popularity, many already make 6 figures, according to ESPN. I think my speculation is as good as yours.
2)"most basketball players earn...."Whereas DIV 1 athletes graduated 90%, across the board, government figures show that athletes have the same graduation rate as all students- 69%, and that is over 4 years, not 3. Speculation again.
3) sounds interesting, but again you use the word "most" and 99% freely. Maybe, maybe not. Being from Missouri originally, I would have to ask you to show me, not some pie in the sky blurb you read written by some China wannabe writer who wants to sell their product, but genuine evidence. Show me.
4) "Limited earning window". Really? Oh, pray tell. Just how long is it? How Long is a Chinaman. hmmm?
Tell that to some of the 40+ year old women still in the NBA? Do you really think giving up a year to help them learn how to use money wisely or invest their money would have helped them? Managing their years is not sound logic if they don't understand how to protect and reinvest in their own investments. Trust me, I don't think they should leave it to people like you.
5) Really poor advice, in my opinion. If I win the lottery today and am so ignorant I allow everyone else to take it away, or I just give it away and don't know how to invest or use the money wisely, what is the point, other than I have just farted away the lottery? But if I invest the winnings wisely and use the money wisely for myself and others, then I have spent my time wisely. Doesn't that really equate to the value of $ time? Your idea to just rush off and be someone sounds glorious, but it is just not practical. I am not saying to earn money as soon as possible, but the pie in the sky you spin, in my opinion, could be dangerous in the hands of inexperience. And please, don't be nave enough to say others will help them. In some cases, they might, but in other cases, when it comes to money, they just might not. Education, or knowing the difference, is paramount to understanding the difference, or, how did you refer to it, the value of money.