I believe this is a very, very slippery slope good vs bad. Of course as with anything in life there will be programs and athletes who abuse it. There will be athletes who receive lots money sent to them through these mediums who do little to nothing for the money. In fact it may make the BAG MAN JOB so much easier. What to stop a endorsement deal of $100,00- 200,000 for eating a bowl of a particular cereal “live on YouTube? Or what’s to stop someone from doing a video of themselves breathing and say “I am being paid to show my face and breathe live”? Rich alums could dominate this space for their specific school! Plus what happens when they want to sew logos to their jersey or past on a helmets during the game? Can it be prevented without placing a limitation on an individual’s opportunity to make money? What if they sign a deal with Nike but their school is another brand? Can the school or coach prevent them from being able to support a product of their choice due to their schools contract? What about a player who picks up a marijuana company and is paid to smoke dope on “Facebook Live” in a state where pot is legal? Or be paid to eat a meal or make an appearance at an event? What kind of limits are set at the price an athlete can be paid or can make in totality? What will constitute a “reasonable wage”? Plus the larger schools can REALLY leverage their fanbase size to attract all the blue chip recruits. Is there anything in the rules against a school having a alum via their company from offering all their football team an endorsement deal that activates automatically after they sign their LOI? The school with the richest/deepest pockets wins! What about a schools policy of forcing athletes to live in a particular place on campus and thus a recruit misses an opportunity to live in a penthouse suite or a endorsement company’s house for endorsing their product? There are SO MANY LAYERS to this onion. The LOI could become a huge distraction to athletes who aren’t mature enough to handle the pressure and extra demands of the contracts that they sign on and the “fine print” and unintended consequences of the long term effects of the contracts they’ve entered into and thus signed away photography rights or potentially other things that leave them in compromised positions in the future. Especially true for the athletes
They need agents/lawyers who are able to give them a clear understanding of the full picture of each contract. I am almost certain that some athletes will settle for pennies in the short term due to the immediate financial demands (own wants/needs, family situations) allowing it to become consuming, lose track of their training, ACADEMICS, and sports schedules (practice, games). They begin to fail school due to the endorsements and become ineligible thus never really ever reaching their full potential athletically or enter into the workforce with a degree. Do the really good athletes have the inner discipline to say I am 100% committed/focused on perfecting my craft to make it to the professional level giving up the short term of “quick money” to make millions of dollars down the road. It’s a gamble.
I believe the athletes should receive some type of financial compensation when the schools/coaches make millions upon millions for the lit performance on their campus facilities but how much is enough vs how much is too much is a tough line to draw.
Perhaps all the schools should’ve been given the exact same monetary budget to pay out for each of their sports team and allow them to decide how much each individual player gets from the lump sum. That way the playing field is equally dispersed. It’s a WHOLE new management headache for the coaches to manage for sure.