Fuck the NCAA, allowing kids to make money based off of their talents/likeness whatever is the right call, but the NCAA is so institutionally stupid and clumsy that there is just no way this won’t be a complete and total clusterfuck.
man, some kids are gonna get fucked over, probably in ways that can’t be foreseen yet, but an obvious one is some kid signs with a school for 50-100k, acts like the kid he is and spends it all, doesn’t do well on the field, no money after that initial payment, but now the taxes are due and he spent it all thinking he was gonna be paid in college until he went in the first round of the draft.
I mean, if you think about NFL busts who end up broke and with a shitty life, it’s gonna be worse for lots of college washouts. Just as many friends/relatives with their hands out, less money, and a much higher bust chance.
If they really wanted to do right by these kids, they would need to be very careful in writing the rules here and making sure schools or some other centralized entity takes some responsibility to help manage things- set aside money in escrow for taxes, etc.
I’m sure schools will find ways to monetize this too, “sign with us and you’ll get access to a marketing department and financial guidance, for just 20% of your earnings”