00:01Today on Forbes, here's why Trae Young, Steph Curry, and other pros are going back to school.
00:08In April, as the NBA regular season was barreling towards its conclusion, Atlanta Hawks guard Terrence Mann had more on his mind than his team's push for a playoff spot.
00:19The basketball program at his alma mater, Florida State University, had won only 17 games and failed to qualify for the NCAA tournament.
00:28And Mann wanted to help.
00:30So he chipped in with recruiting, connecting the team with guard Martin Somerville, a transfer prospect from the University of Massachusetts, whom he knew from off-season workouts, and eventually steering Somerville to Tallahassee.
00:44Luke Locks, who was hired as Florida State's coach in March, says, quote,
00:49Martin Somerville is going to play a lot for us next year.
00:52Without Terrence, we had no shot at getting him, and we beat out some really big schools that were willing to pay way more in NIL to get him.
01:01The NIL that Locks is referring to stands for name, image, and likeness.
01:06In the four years since the NCAA begrudgingly began to allow its athletes to profit off their NIL, big-time college sports have quickly become a bidding war for top players.
01:17In addition to the branded social media posts and local television commercials that rulesmakers might have envisioned when they opened the doors to commercial deals for athletes on campus,
01:27boosters have pooled their resources and formed collectives to funnel money to recruits, nominally for marketing services, but in practice, often a thinly-veiled form of pay-for-play.
01:38Three antitrust lawsuits, House v. NCAA, Hubbard v. NCAA, and Carter v. NCAA, are currently awaiting court approval for a settlement that would inject even more money into the system,
01:52enabling universities to directly pay athletes a share of their media, ticket, and sponsorship revenue,
01:57and effectively ending college sports' commitment to amateurism.
02:01For example, according to the Houston Chronicle, the University of Texas plans to spend $35 to $40 million on its football roster next season
02:10between its NIL payouts and the revenue-sharing payments, which are expected to be capped initially at $20.5 million.
02:19Already, however, programs' price tags are eye-popping.
02:22Last July, Ohio State's athletic director told the Columbus Dispatch that the school's football players
02:28had received roughly $20 million in NIL deals over the previous year through a variety of third parties.
02:35Naturally, not every university has the wherewithal to keep up, and even the ones that do are fighting for a competitive edge.
02:42A handful of institutions believe they have found an answer that goes beyond dollars and cents.
02:47All-star alumni like Mann, a six-year NBA veteran who played for the Florida State Seminoles from 2015 to 2019.
02:54In April, Mann officially rejoined Florida State as assistant general manager of the men's basketball program.
03:02He will not be an FSU employee or be paid for his role, but he will be expected to play a part in player development as well as recruiting.
03:10Mann, who is 28 years old, says,
03:12A month before Mann started his new side hustle, Golden State Warriors superstar Stephen Curry paved the way by becoming the assistant general manager
03:34for the men's and women's basketball teams at his alma mater, Davidson College,
03:40billed as the first time an active athlete from a major North American sports league
03:44had accepted an administrative role with an NCAA program.
03:48Three weeks later, Trey Young, Mann's teammate on the NBA's Atlanta Hawks,
03:53went back to the University of Oklahoma in a similar role,
03:56and Las Vegas Raiders defensive end Max Crosby followed in April by taking a position
04:01with Eastern Michigan University's football program.
04:03And this doesn't even include former Indianapolis Colts quarterback Andrew Luck,
04:08who became Stanford football's general manager in November, five years after retiring from the NFL.
04:15For full coverage, check out Justin Birnbaum's piece on Forbes.com.
04:20This is Kieran Meadows from Forbes.
04:23Thanks for tuning in.
04:33Kieran Meadows from Forbes.com.
04:34Thanks for tuning in.
04:34Thanks for tuning in.
04:35Thanks for tuning in.
04:36Thanks for tuning in.
04:37Thanks for tuning in.
04:38Thanks for tuning in.
04:39Thanks for tuning in.
04:40Thanks for tuning in.
04:41Thanks for tuning in.
04:42Thanks for tuning in.
04:43Thanks for tuning in.
04:44Thanks for tuning in.
04:45Thanks for tuning in.
04:46Thanks for tuning in.
04:47Thanks for tuning in.
04:48Thanks for tuning in.
04:49Thanks for tuning in.
04:50Thanks for tuning in.
04:51Thanks for tuning in.
04:52Thanks for tuning in.
04:53Thanks for tuning in.
04:54Thanks for tuning in.
04:55Thanks for tuning in.
04:56Thanks for tuning in.
04:57Thanks for tuning in.
04:58Thanks for tuning in.
Comments