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Can we stay competitive in the NIL era?
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<blockquote data-quote="RonJohn" data-source="post: 874159" data-attributes="member: 2426"><p>Compare it to a person who buys used golf clubs at flea markets/yard sales/thrift stores/etc and sells them on ebay. He will spend less money if he doesn't buy used golf clubs, but he won't have any clubs to sell on ebay. He will lose the opportunity cost.</p><p></p><p>If a highly rated football player gets a last NIL check for $20k after the college football season and before the draft, he can hire and pay for a lawyer to vet all of the agent contracts he is proposed. He can hire and pay for an accountant and tax professional to vet the contracts financial and tax implications. Where the agent who paid the family's upscale rent for a few years could slip in a 15% contract with no questions before will have to compete with agents who will drop down to 8% or maybe even 5%. Some players were dependent on agents in the old system and saw them as saviors until mid way thru their pro career when they realized the agents were charging excessive fees. Now they will be able to sit back and force the agents to fight for their business. I think the athletic programs are going to have classes and training on handling money, contracts, and taxes.</p><p></p><p>As to the "cherry on top", will a person who signs a deal for $200k/year care about getting an additional $20k? Will he care about an additional $50k? He might, but the person providing that additional money is no longer a "savior" who automatically gets the agent contract. The agents aren't going to be swooping in on guys who are desperate to put food on their siblings tables and are naive enough to ignore getting screwed in contracts.</p></blockquote><p></p>
[QUOTE="RonJohn, post: 874159, member: 2426"] Compare it to a person who buys used golf clubs at flea markets/yard sales/thrift stores/etc and sells them on ebay. He will spend less money if he doesn't buy used golf clubs, but he won't have any clubs to sell on ebay. He will lose the opportunity cost. If a highly rated football player gets a last NIL check for $20k after the college football season and before the draft, he can hire and pay for a lawyer to vet all of the agent contracts he is proposed. He can hire and pay for an accountant and tax professional to vet the contracts financial and tax implications. Where the agent who paid the family's upscale rent for a few years could slip in a 15% contract with no questions before will have to compete with agents who will drop down to 8% or maybe even 5%. Some players were dependent on agents in the old system and saw them as saviors until mid way thru their pro career when they realized the agents were charging excessive fees. Now they will be able to sit back and force the agents to fight for their business. I think the athletic programs are going to have classes and training on handling money, contracts, and taxes. As to the "cherry on top", will a person who signs a deal for $200k/year care about getting an additional $20k? Will he care about an additional $50k? He might, but the person providing that additional money is no longer a "savior" who automatically gets the agent contract. The agents aren't going to be swooping in on guys who are desperate to put food on their siblings tables and are naive enough to ignore getting screwed in contracts. [/QUOTE]
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