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The biggest buzz in the sports circles lately has been around compensation for college athletes. As per the National Collegiate Athletic Association (NCAA) until very recently, the students playing sports on college level were not required to be paid for their contribution to the institution. However, now the rules are changing. After years of campaigning from college athletes, they finally won the battle. Athletes like Reggie Bush and Cam Newton have suffered under the old regime.
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Athletes are finally earning compensation at the College Level
The biggest buzz in the sports circles lately has been around compensation for college athletes. As per the National Collegiate Athletic Association (NCAA) until very recently, the students playing sports on college level were not required to be paid for their contribution to the institution. However, now the rules are changing. After years of campaigning from college athletes, they finally won the battle. Athletes like Reggie Bush and Cam Newton have suffered under the old regime. Former Harvard University player James Velissaris, is a huge fan of the new policy. During his playing days, likenesses of football players were used for lucrative video games in which the players were not compensated.
The NCAA has now allowed for players to be compensated for their contributions when they are still playing for their colleges. Here is how the turnaround by the NCAA is about to make a difference to the players:
Seriousness for the Sport Many players have to make the tough decision of whether to go to college, or whether to go directly to play professional sports. For the many of athletes that don’t come from extreme wealth, which is the majority, they have to weigh providing for their families or pursuing an education while honing their athletic talents at college. This new law, allows the athletes to do both. You can both pursue an education as well as benefit financially from the money the sport is bringing into the university. There were many clandestine ways that athletes were being compensated before, and it seriously marred the career of many talented athletes. This rule will add legitimacy to any types of payments made to high-performing college athletes and eliminate the risk and need for underground deals.
Diversification of Talent: Now that there is the ability to make money during college, it will be interesting to see if the behaviors of high school athletes change. Before, if you play lacrosse, and you have a clear understanding that playing professionally wouldn’t allow you to generate significant income, you may spend more time on school. Now that the rules have changed, will students start to spend more time and prioritize athletics over academics? It will be interesting to see the types of compensation packages and the levels that these college athletes will receive. Recently, there was an announcement of a few million dollar deals.
This can be a very lucrative opportunity for those who compete in college sports, but do not go on to play professionally. This still allows the athlete to make money from their talent, and pursue education so the future can be bright even outside of sports. We have all seen many times before, promising athletes that blow out their knee in college and cannot pursue the financial rewards of a professional career. That’s why many athletes choose to go straight to the professional leagues, because they do not want to risk injury before achieving that goal. Being able to generate significant income in college, will allow more sports candidates to attend college and have a financially exciting opportunity whether or not they make it to the league.
Changing theEconomic Landscape for Low Income Athletes : The sporting enthusiasts like Velissaris believe that when students are allowed to make money as they play sports for their colleges, it will also eventually have a positive effect on how the trajectory of the incomes of diverse families. By allowing athletes the ability to earn money in college, they can start to save, they can create opportunities to give back to their families earlier, they can pay off debts that can be detrimental later in life. And they can start out life after college in a great financial position. Even if you are not a super scholar, there’s an opportunity to make enough in college to give you a nest egg for the future.
This can change the economics for the communities which the athletes come from and the trajectory of their financial future. The reason most high school athletes decide to stop sports, is because they do not have a hope or dream of getting into the professional leagues. Now that professional leagues are not the only way to amass income from playing sports, it will be interesting to see if the number of high school athletes and the competitive nature of high school athletics increases. It can be safely concluded that the decision by the NCAA to allow sports players to get earning based on their athletic talent, will only take sporting in colleges to a new level
There may be a lot more people that will feel inspired to take up sports competitively in high school in preparation for a potentially lucrative career as a college or university. SOURCE CREDIT: https://jamesvelissaris.wordpress.com/2021/08/23/athletes-are-finally-earning-compensation-at-the-college-level/
