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Replies: 13
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CU Guru [1458]
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Impact NIL may have on players AFTER their football career ends
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Dec 15, 2023, 11:37 AM
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Imagine getting an NIL deal for a few hundred thousand dollars while you're still on scholarship. The University provides you room, board, health care, etc. Hopefully, you're putting some of that money away.
Imagine a few years later when your playing career is mostly over. You aren't in the NFL, you're paying your own way with rent, meals, and insurance, and you may not have a degree. I understand USFL players could make between $200k to $400k, but XFL salaries may be about a quarter of that or less.
My point is I hope the NIL deals don't ruin the importance of an education. Even with a degree (depending on what you get), you may never earn as much in "the real world" (on a yearly basis) as you ever did through NIL. On top of that, not everyone finds a career but instead settles on just a job.
I wish them all the best and I hope they get sound advice on both their careers and their financial future.
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Orange Blooded [4098]
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Re: Impact NIL may have on players AFTER their football career ends
Dec 15, 2023, 12:30 PM
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How is this any different from before NIL except the players had no money?
Do you really think anything is different?
Many football players are only in college to play football.
Hopefully some of them do get the degree and are better off for it.
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Starter [364]
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I definitely think the influx of money will reduce graduation rates***
Dec 15, 2023, 1:44 PM
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CU Guru [1458]
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Re: Impact NIL may have on players AFTER their football career ends
Dec 15, 2023, 2:16 PM
[ in reply to Re: Impact NIL may have on players AFTER their football career ends ] |
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How is this any different from before NIL except the players had no money?
Do you really think anything is different?
Many football players are only in college to play football.
Hopefully some of them do get the degree and are better off for it.
Yes, it's different BECAUSE of the money. Before, they had all those benefits while in school BUT WITHOUT a few hundred thousand dollars. The point is, their tax returns for their college days may represent the largest yearly amount of money they ever make.
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CU Medallion [55443]
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Re: Impact NIL may have on players AFTER their football career ends
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Dec 15, 2023, 12:43 PM
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The idiots will suffer, but the ones that used their scholarship to get a good college education, they will be just fine. With that said, I don't have any feeling for the ones that just wasted their scholarship taking BS courses to get by and play FB or whatever sport!!!
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Orange Blooded [3615]
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Re: Impact NIL may have on players AFTER their football career ends
Dec 15, 2023, 12:46 PM
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They will have less debt and be set. Great problem to have.
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Standout [316]
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Re: Impact NIL may have on players AFTER their football career ends
Dec 15, 2023, 12:51 PM
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Imagine how many of these athletes don't understand income taxes and are getting ridiculous financial advice. Most will probably learn the hard way.
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CU Guru [1447]
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Re: Impact NIL may have on players AFTER their football career ends
Dec 15, 2023, 1:39 PM
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The value of a college education is dropping by the second. Especially with the sky rocketing cost of attending.
If these kids work hard - they will find their way to success. Before or after NIL...doesn't change anything.
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Orange Blooded [3639]
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NIL does create problems, but not this one
Dec 15, 2023, 2:33 PM
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The only difference between then and now is a kid might have some money in his pocket after leaving school; degree or no degree.
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Letterman [290]
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Re: Impact NIL may have on players AFTER their football career ends
Dec 15, 2023, 5:52 PM
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USFL & XFL salaries are $50k a year.
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MVP [526]
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Re: Impact NIL may have on players AFTER their football career ends
Dec 15, 2023, 8:06 PM
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It’s here to stay whether we like it or not and our staff needs to utilize it and the portal to stay in the championship races
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Hall of Famer [22436]
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Clemson is apparently leading the nation in...
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Dec 15, 2023, 8:18 PM
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.... setting up an infrastructure that will do exactly that.
Other schools, including FSU, also have set up an infrastructure to assist students in handling the difficulties that come with financial gain. But, I don't know of anyone that is doing as good a job as Clemson.
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CU Guru [1458]
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Re: Clemson is apparently leading the nation in...
Dec 16, 2023, 6:38 AM
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Thank you and that’s my point. I’m proud my university is trying to help prevent the situation I see playing out for these kids everywhere else.
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Orange Blooded [3290]
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Re: Clemson is apparently leading the nation in...
Dec 16, 2023, 9:15 AM
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Does the NIL Collective handle the taxes for the players? It would help keep them out of tax trouble. And maybe they set up accounts with a set draw to hopefully help them hold on to some of the money. What happens then if they transfer?
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Replies: 13
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