Reflecting on the Shame of College Sports: Should NCAA Div 1 Basketball and Football players get paid?

            The argument for paying collegiate athletes find its basis largely in the structure of athletic programs and the salaries of coaches, franchises, and media that own the players’ performances. Furthermore, these athletes spend their lives focusing on their abilities, yet they make no money. If collegiate sports did not make a profit, it would be more reasonable for players to compete without compensation. Additionally, competitors are putting their health and bodies at risk in order to participate while expecting nothing in return. The argument against paying college athletes emphasizes the nature of education as a privilege that requires dedication and hard work academically, rather than an advantage bestowed on those that will increase the university’s prestige and revenue. Athletes contribute to the spirit of the college, but should they be paid for simple athleticism as opposed to working toward their higher education?

            I believe collegiate athletes should be paid for their time and lifestyle commitments, as well as the risk to their personal health. However, these ‘salaries’ should be capped to ensure the franchise is not over-paying for talent that has no other contribution to the university itself. Furthermore, these players receiving compensation for their athletic contribution should also meet certain requirements, such as maintaining a substantial GPA and participating in additional programs through the university. While I believe athletes deserve payment for their commitment, it should not be bestowed based solely on participation in an athletic program.

Once the cheering stops: The life of a retired pro-athlete

Professional athletes are ill prepared to handle the responsibilities of money management during and after their careers. Being unaware of the temporality of their careers and paychecks, these individuals spend their earnings as quickly as they are made. In doing so, these athletes are financially compromised at the end of their career. This especially is true for NFL players, due to their relatively low earnings, short careers, and high medical costs in the late stages of their lives. These athletes typically they find themselves with minimal income and zero-savings.

            This poor money-management is mainly due to unawareness of taxation, belief that they can find work within the franchise after their athletic career, and unforeseen long-term expenses. This is especially true for athletes in the 80’s & 90’s, due to the rapid increase in player salaries. Because these paychecks were unheard of, the athletes had no financial examples (relatable to their situation) to guide them. I believe this poor money management is an issue left in the past. Many athletes are required, or strongly recommended to seek a financial advisor once they are signed. Furthermore, by witnessing these financial horror stories, athletes today will be happy to seek financial guidance and start considering their future and expenses after sport.