NCAA Money Machine: A Greedy One

The NCAA is a billion dollar industry...but is a greedy one too. Coaches are signing contracts up to 30 million over 8 years. Coaches are being paid the most they have ever been in this time. What about the athletes? Only a staggering 69% of athletes in football and basketball combined are graduating. 78% of football and 60% NBA players are bankrupt within the first 5 years of their retirement.

• It is evident the student-athletes are not getting the amount of help they need. 
• Colleges make the argument --that they are giving the student-athletes a clear path towards success with a college degree, but look at those numbers.
•  About 1/3 of those athletes are not finishing college.
•  If players got some kind of incentive to graduate through money or even being paid for their name on jerseys or billboards they would likely stay in school. 
• Not only would they be obligated to stay in school to get their money, this would also teach them at a younger age how to control their use of spending. That way when they enter the league or even if they don't continue their athletic careers they will have a better understanding and knowledge of how to control their money.

Do you think that college athletes given money and a class to help manage their earnings would help solve these problems? Or create more?

http://www.briarpress.org/?q=system/files/images/moneybag.png


This article was written  by Larry Woodward, Pres. and CEO of Vigilante. Larry has a career in law and is a sports fanatic. He has been examining the money issues in the NCAA for years.

http://abcnews.go.com/Business/fair-play-ncaa-athletes-portion-millions-advertising-dollars/story?id=9812727