.

[KnappShack]

I am a loan originator. If I gave the local basketball star a loan that another joe blow college student with the same current financial situation couldn't get, then I would be out of a job.

Only if they catch you! Fair lending and the CFPB be damned!

Now if I'm a guy that's just lending money to players and then forgiving the principal.....that sounds like a slick way to pay players!

NCAA basketball is dirty. It's been dirty for a long time. Working in "loans" that a normal student wouldn't qualify for is racing off of a cliff.

 

[cyfan92]

NFL players are underpaid, why do the "talking heads" always say let these kids get paid their fair market value..

Nick Foles made $1.6M last year, had every right to every endorsement and will make pennies or less on the dollar of what the NFL and their owners make. Jimmy G will be the highest paid player in the NFL (The 49ers are collecting an approximated $446M in annual revenue, according to Forbes in 2016) Assuming 0% growth (NFL projects 10% growth minimum YoY) over his 5 year contract. Jimmy will receive approx. 6.2% of the teams $2.23B revenue and the QB is the single most important position on the field... Assuming similar revenue for the Eagles, Nick Foles will make 0.36% of this years annual Eagles revenue.

At my job I am paid for providing my company a service. They make many times off me what I am actually paid... Mega star athletes receive $120K of tax free benefits annually to go to fake classes and have tutors do their work. No sympathy from average students who leave classes with an average of $35K+ in student loans.
-source: http://www.ncaa.org/student-athletes/benefits-college-student-athletes

Bottom line is players should be allowed to leave for the professional ranks whenever they want and start being monetized.

What isn't discussed is that pro sports teams want the colleges to pay for the athletes development and be the most game ready when they first sign. Look at how the NBA complains at how unprepared these 19 year olds are for competition. However, they still keeping picking those players.
source: -https://www.washingtonpost.com/news/sports/wp/2017/06/01/adam-silver-wants-to-blow-up-the-nbas-age-limit-rule/?utm_term=.347ebeaac695

 

[VeloClone]

the question was else can get a loan and not have to pay it back for years

The answer is most college students get that exact loan their payments are deferred. the issue is it's only a violation to get something "normal students" can't get, and the "normal student" gets a loan that is deferred, why can't the athlete get the same loan?

The athlete can get the same student loan from the same lending institution. Normal students can't get agent "loans" or booster "loans" and neither can athletes (within the rules).

 

[Cyclone.TV]

NFL players are underpaid, why do the "talking heads" always say let these kids get paid their fair market value..

Nick Foles made $1.6M last year, had every right to every endorsement and will make pennies or less on the dollar of what the NFL and their owners make. Jimmy G will be the highest paid player in the NFL (The 49ers are collecting an approximated $446M in annual revenue, according to Forbes in 2016) Assuming 0% growth (NFL projects 10% growth minimum YoY) over his 5 year contract. Jimmy will receive approx. 6.2% of the teams $2.23B revenue and the QB is the single most important position on the field... Assuming similar revenue for the Eagles, Nick Foles will make 0.36% of this years annual Eagles revenue.

At my job I am paid for providing my company a service. They make many times off me what I am actually paid... Mega star athletes receive $120K of tax free benefits annually to go to fake classes and have tutors do their work. No sympathy from average students who leave classes with an average of $35K+ in student loans.
-source: http://www.ncaa.org/student-athletes/benefits-college-student-athletes

Bottom line is players should be allowed to leave for the professional ranks whenever they want and start being monetized.

What isn't discussed is that pro sports teams want the colleges to pay for the athletes development and be the most game ready when they first sign. Look at how the NBA complains at how unprepared these 19 year olds are for competition. However, they still keeping picking those players.
source: -https://www.washingtonpost.com/news/sports/wp/2017/06/01/adam-silver-wants-to-blow-up-the-nbas-age-limit-rule/?utm_term=.347ebeaac695

The nfl and nba have players associations and agents to negotiate contracts and they should be working to get the best deal they can get.

The NCAA does not have this. Well they don’t enforce it very well, but they “have the rule”.

 

[cycloner29]

Not every athlete is on a full scholarship - pretty much only Football and Basketball. And even for those that are it doesn't necessarily cover their full cost of living for the entire year.

That was kinda why I threw out the 4 and 5 star type athletes. I realize that some will get partial scholarships and even some athletes will get academic ones also.

I am trying to look out for the common students that have to rely on student loans to get through college. With the tuition increases that seem to be happening every year and in the news again this week, it's going to come down to whether kids can even get a loan. We have one in college right now and one in high school and it is something we will have to deal with from now until our last one is done with college.

 

[rholtgraves]

Nah, I've just been an athlete and know all the perks we get and they were more than enough to cover everything I needed.

I definitely think that most athletes get what is needed and things are better than ever in that regard. My problem is arcane NCAA rules and the facade that is amateurism. The fact that the NCAA wants to make billions in profit and then turn around and say David Montgomery can't make any money from selling his autograph if he wants. I mean how much money does ISU make off of selling jersey's with say Larzard's number on it or Montgomery's etc. Why don't they get a cut? It is not ok to do this in any other place except the NCAA. Basically I am still pissed over the NCAA refusing to go forward with college football video games simply because they don't want to give the players a cut.

 

[cyfan92]

The nfl and nba have players associations and agents to negotiate contracts and they should be working to get the best deal they can get.

The NCAA does not have this. Well they don’t enforce it very well, but they “have the rule”.

Bureaucracy gets in the way of everything.. Again, this would be solved with letting players leave whenever they want. However the professional teams REALLY don't want that

 

[isufbcurt]

I definitely think that most athletes get what is needed and things are better than ever in that regard. My problem is arcane NCAA rules and the facade that is amateurism. The fact that the NCAA wants to make billions in profit and then turn around and say David Montgomery can't make any money from selling his autograph if he wants. I mean how much money does ISU make off of selling jersey's with say Larzard's number on it or Montgomery's etc. Why don't they get a cut? It is not ok to do this in any other place except the NCAA. Basically I am still pissed over the NCAA refusing to go forward with college football video games simply because they don't want to give the players a cut.

I understand that. But there is no way to regulate the selling of an autograph. It could easily be used to push a kid to a particular school.

 

[CapnCy]

If the bank wouldn't give that loan to a non-athlete who has a similar financial situation then it would be against the rules.


And for those of you questioning why it is against the rules use some common sense. If loans were allowed you'd have rich boosters give the top recruits "loans" to go to their school.

Correct...and the term "loan" would be probably pretty loose.

Also, it does help protect the students. I.e. "I'll give you a loan for $10k...clearly you will pay me back when you get drafted." Then they don't get drafted. And they now are on the hook for the money, etc. Look up Maurice Clarett....you can then have the mafia after you. http://www.espn.com/nfl/news/story?id=2553084

 

[Cyclone.TV]

Bureaucracy gets in the way of everything.. Again, this would be solved with letting players leave whenever they want. However the professional teams REALLY don't want that

Wut? They want the athletes at their youngest. Throw them in the G league and have the ability to coach them up and have them under contract. They don’t like the way colleges are because it doesn’t get them ready for the NBA.

 

[Cyclone.TV]

Correct...and the term "loan" would be probably pretty loose.

Also, it does help protect the students. I.e. "I'll give you a loan for $10k...clearly you will pay me back when you get drafted." Then they don't get drafted. And they now are on the hook for the money, etc. Look up Maurice Clarett....you can then have the mafia after you. http://www.espn.com/nfl/news/story?id=2553084

Or you could have student loans till you are 50 like most college kids.

 

[CapnCy]

Or you could have student loans till you are 50 like most college kids.

Correct.....and it's important to note student athletes can also take out student loans, so if they need money beyond what they get for their stipend/expenses, they too can go through the established channels.

 

[VeloClone]

I understand that. But there is no way to regulate the selling of an autograph. It could easily be used to push a kid to a particular school.

Yes. Don't you think a player on a team with a national brand could make a hell of a lot more off of autographs and jersey sales than the same player on a non-blueblood school? I'm sure most recruits do and it would be just another way the scales tip toward the blue-bloods. It would also be another way that they could pay athletes anything they want by giving them $1,000, $10,000 or $50,000 an autograph for a pseudo-salary.

 

[cyfan92]

Wut? They want the athletes at their youngest. Throw them in the G league and have the ability to coach them up and have them under contract. They don’t like the way colleges are because it doesn’t get them ready for the NBA.

If you read the article i referenced - "Silver said the NBA is “looking at” new ways to introduce 18-year-old players to enter its developmental league. Starting next year, each developmental league team will be able to sign two players to a “two-way” contract, paying more than a developmental league salary but less than the full NBA minimum."

So they want them younger but for way less money aka: not fair market value

 

[Cyclone.TV]

Correct.....and it's important to note student athletes can also take out student loans, so if they need money beyond what they get for their stipend/expenses, they too can go through the established channels.

Like I said, if there are better loans available, why shouldn’t they be able to choose that loan?

 

[Cyclone.TV]

If you read the article i referenced - "Silver said the NBA is “looking at” new ways to introduce 18-year-old players to enter its developmental league. Starting next year, each developmental league team will be able to sign two players to a “two-way” contract, paying more than a developmental league salary but less than the full NBA minimum."

So they want them younger but for way less money aka: not fair market value

If the player is ok signing that contract, then that is fair market value.

 

[alarson]

And the NCAA doesn’t have a set of balls to enforce it.

Once the nba gets rid of the one and done rule and puts more money into G-League, the NCAA is gonna be in trouble. It’s already a ****** product and it’s only gonna get worse if that happens. NCAA needs to find a way to keep these kids going to college.

Hard disagree.

I can't wait for this to happen.

99% of college basketball fans are in it because they have ties to the school, whether because theyre local or because they are alumni, etc. I would very much enjoy getting the shadiness out of things, getting one and dones out of the system and returning things to being more about the original student-athlete model.

If i cared about it being the best athletes in the world week in and week out, i'd be an NBA fan. Hell, if people cared about that g-league teams would draw better than they do, given they have better talent than college teams.

 

[Cyclone.TV]

Hard disagree.

I can't wait for this to happen.

99% of college basketball fans are in it because they have ties to the school, whether because theyre local or because they are alumni, etc. I would very much enjoy getting the shadiness out of things, getting one and dones out of the system and returning things to being more about the original student-athlete model.

If i cared about it being the best athletes in the world week in and week out, i'd be an NBA fan. Hell, if people cared about that g-league teams would draw better than they do, given they have better talent than college teams.

There are plenty of people out there that don’t watch college basketball because it’s a poor product - I don’t watch that much for that very reason. Water it down even more won’t make more fans - it’ll make less. Hard core fans will never stop being those same fans, but can you imagine if dukes recruiting was more like ISU’s? They wouldn’t be into it as much as they are.

 

[alarson]

There are plenty of people out there that don’t watch college basketball because it’s a poor product - I don’t watch that much for that very reason. Water it down even more won’t make more fans - it’ll make less. Hard core fans will never stop being those same fans, but can you imagine if dukes recruiting was more like ISU’s? They wouldn’t be into it as much as they are.

So go watch the NBA then and stop trying to **** up college basketball.

 

[rholtgraves]

The NCAA is forcing some of the shadiness with their dumb rules. Why can't athletes make money? Because the NCAA says they are amateurs. Why are they amateurs? Because the NCAA says so. It is circular logic.
Part of the problem is having a governing body that represents all universities and colleges when there are clearly different interests and money involved in the power conferences vs mid and low majors.

And I hate to break it to you, but nothing is going to change. A few people get punished, an agent gets in trouble, a banner gets taken down and then business as usual.