Adam Weitsman announces NIL plans

[Capt. Tuttle]

sorry but i liked college sports when it was NCAA and not professional. a full tuition used to be reward enuf.
in fact it was more than most americans can afford. these kids should be grateful not greedy to play D1 sports.

So, everyone else can be greedy, just not the players? You also realize that the NIL money does not come out of the coffers of the university, right? It’s coming from businesses.

 

[MSOrange]

 

[upperdeck]

It's a multi billion dollar industry, there are plenty of people getting rich off of college athletics. Not all college athletes deserve a piece of the pie, but those in revenue generating sports should share in that revenue in some regulated way.

so you are saying we should remove all the non revenue sports then and give it to the couple hundred kids creating the revenue..

 

[rrlbees]

Fran is a smart man. Most of the money is pay for play. Have to be pretty dense not to see that.

 

[upperdeck]

This is all defined by the schools. 100k plus is value not actual which is part of the issue. Education doesn't cost the universities 100k per student. It's far less. It's perception vs reality in terms of the benefits they are getting.

you run the numbers and tell me how much it costs..
why do schools that dont have athletics in a big way still cost about the same and where is that money going..

how much does an appt cost and food for a kid for a yr. how much does security cost and parking and infrastructure and ambulance and fire and garbage and lawn service and plowing etc

how much does teaching cost and libraries and lab space and most of that is not paid for by research dollars as well.

one kid has 4-5-6 Profs a yr that teach how many kids 20-30 or 1-200 in some cases. class sizes are all over but many are smaller as well.. make it 25 per class and 5 classes they are supporting 5 teachers who teach 1-2 classes much of the time. that adds up.

now go figure out how much all the other crap costs for creating a small city.

just ball park all the numbers

SU has say 10k of people making 50K. thats 1 billion to support it on salaries alone

now 20k paying 100K thats 2 billion..

you can start to see where the money goes..

 

[Capt. Tuttle]

you run the numbers and tell me how much it costs..
why do schools that dont have athletics in a big way still cost about the same and where is that money going..

how much does an appt cost and food for a kid for a yr. how much does security cost and parking and infrastructure and ambulance and fire and garbage and lawn service and plowing etc

how much does teaching cost and libraries and lab space and most of that is not paid for by research dollars as well.

one kid has 4-5-6 Profs a yr that teach how many kids 20-30 or 1-200 in some cases. class sizes are all over but many are smaller as well.. make it 25 per class and 5 classes they are supporting 5 teachers who teach 1-2 classes much of the time. that adds up.

now go figure out how much all the other crap costs for creating a small city.

just ball park all the numbers

SU has say 10k of people making 50K. thats 1 billion to support it on salaries alone

now 20k paying 100K thats 2 billion..

you can start to see where the money goes..

The AD pays the school for the athlete’s’ attendance.

 

[Orangezoo]

you run the numbers and tell me how much it costs..
why do schools that dont have athletics in a big way still cost about the same and where is that money going..

how much does an appt cost and food for a kid for a yr. how much does security cost and parking and infrastructure and ambulance and fire and garbage and lawn service and plowing etc

how much does teaching cost and libraries and lab space and most of that is not paid for by research dollars as well.

one kid has 4-5-6 Profs a yr that teach how many kids 20-30 or 1-200 in some cases. class sizes are all over but many are smaller as well.. make it 25 per class and 5 classes they are supporting 5 teachers who teach 1-2 classes much of the time. that adds up.

now go figure out how much all the other crap costs for creating a small city.

just ball park all the numbers

SU has say 10k of people making 50K. thats 1 billion to support it on salaries alone

now 20k paying 100K thats 2 billion..

you can start to see where the money goes..

you run the numbers and tell me how much it costs..
why do schools that dont have athletics in a big way still cost about the same and where is that money going..

how much does an appt cost and food for a kid for a yr. how much does security cost and parking and infrastructure and ambulance and fire and garbage and lawn service and plowing etc

how much does teaching cost and libraries and lab space and most of that is not paid for by research dollars as well.

one kid has 4-5-6 Profs a yr that teach how many kids 20-30 or 1-200 in some cases. class sizes are all over but many are smaller as well.. make it 25 per class and 5 classes they are supporting 5 teachers who teach 1-2 classes much of the time. that adds up.

now go figure out how much all the other crap costs for creating a small city.

just ball park all the numbers

SU has say 10k of people making 50K. thats 1 billion to support it on salaries alone

now 20k paying 100K thats 2 billion..

you can start to see where the money goes..

Run the numbers per capita for each student. It's not close to 100k. It just isn't. I didn't make that claim from a subjective perspective. Also you have professors teaching 600 plus in some cases. Adjuncts make peanuts.

Furthermore it doesn't change the dynamic of why student athletes are given scholarships which was key in the initial point as well. It's not just the cost alone.

 

[kirbivore]

When the players are generating billions of dollars, they should get some of it. This all needs to get regulated in some way, but it wasn't fair that a bunch of people got rich off of these kids. An education is great, but they should also see some of the money they generate.

and also coaches could be mercenaries and leave the kids they recruited in the lurch while moving up the ladder, so only fair to let the kids get same freedom of movement.

 

[upperdeck]

Run the numbers per capita for each student. It's not close to 100k. It just isn't. I didn't make that claim from a subjective perspective. Also you have professors teaching 600 plus in some cases. Adjuncts make peanuts.

Furthermore it doesn't change the dynamic of why student athletes are given scholarships which was key in the initial point as well. It's not just the cost alone.

you cant count on one hand the profs teaching large classes like that at any college.

 

[Orangezoo]

you cant count on one hand the profs teaching large classes like that at any college.

It was one example. I've actually had this conversation with several professors and former professors on the hill I stayed in touch with. In the sense of not taking this OT I will just say this goes directly to the issue of inflated costs for higher education that are not close to representative of cost per student. It simply doesn't cost that much every every student on campus. That whole assumption is just that - an assumption and a bad one at that.

 

[upperdeck]

It does make you wonder though what the real cost is, because many of these schools would not survive without the endowment and if they were raking in 100s millions that would not be true, Profs are also more out of touch of reality at the college than most employees. when you pay a prof 100K its probably more like 200K in costs..

economies of scale do come into play I agree. But when you provide 3 buffets a day to 10-20K of kids thats a pretty huge cost.

its a numbers game.. But colleges are not rolling in money either at many schools.

 

[MikeSU02]

Sorry, what's the point of this? Thanks, Fran. No kidding? wHaT a brILLiant MiND!!!!!

The NCAA didn't have poor foresight. The structure was a feature, not a bug. Literally anyone could see that and the hubris and greed of the people making money off of it (including HCs) were happy with how the system was set up and the way "compensation" for players was transpiring. Hence why SCOTUS basically not only ruled against them but put in big, bright, flashing lights to tell them they would get their butts kicked from here to timbuktu if they tried any more BS.

The NCAA had all the runway in the world to solve this and chose to not do so, purposefully. It was NOT poor foresight. It was actively kept in place.

 

[dollarbill44]

Run the numbers per capita for each student. It's not close to 100k. It just isn't. I didn't make that claim from a subjective perspective. Also you have professors teaching 600 plus in some cases. Adjuncts make peanuts.

Furthermore it doesn't change the dynamic of why student athletes are given scholarships which was key in the initial point as well. It's not just the cost alone.

Where did the $100k number come from? SU doesn't cost anything near $100k per year. My daughter is a senior, so I know very well how much it costs.

 

[Toga]

Ultimately the new world of portal and paying players (above and beyond NIL) will find an equilibrium and that equilibrium will partly be determined if there is significant impact to TV ratings and attendance.

 

[rrlbees]

Where did the $100k number come from? SU doesn't cost anything near $100k per year. My daughter is a senior, so I know very well how much it costs.

It’s not $100,000 but for students enrolled after 2018 it is $83,000 for full cost of attendance not including beer money.

 

[Toga]

I think it's fair to say that the NCAA has now discontinued it's Corey Maggette investigation.

 

[Cusefan0307]

I remember it being $35,000 when I was a freshman and I thought that was ridiculous...If I didn't get such a great financial package then there was no way I could have swung it.

 

[Fly Rodder]

.If I didn't get such a great financial package

You're a business guy, so I know you get this, but this the sticker cost of a year's tuition isn't anything like the actual cost. Most, if not all schools, play a little game every year with the number of applicants they have, the number of accepted students, and number of students who plan on attending as well as the number of those paying full freight (typically foreign students). If it's looking like they need a 100 additional students to accept, they'll discount the nominal cost through grants and financial aid to increase enrollment. The numbers they worry most about are enrollment and actual revenue.

Most of these schools are run by MBA types with eyes very much fixed to the bottom line. The flow of funds from the AD to the school's coffer is pretty much a straight pipe. Student athletes are billed the full freight cost at sticker and the AD funnels the TV money to the school. If they could charge student athletes more, they absolutely would.

 

[Fly Rodder]

But colleges are not rolling in money either at many schools

depends on what you call rolling in the money ... endowments? Salaries? Schools pay big time salaries for their administrative staff - at least for those in the right positions. I've known enough people in higher-ed phoney baloney jobs and there a ton of ways that money gets doled out to keep everyone happy. Higher ed costs out pace inflation because there's basically an unlimited source of privately and government-subsidized funds since new students enroll every year and graduating students are paying off their loans for decades. There's no check on increasing costs because *most* people need college degrees to increase their earning potential.

 

[GooseMutt]

Innocent college basketball is over. A monster has been created (innocent is a relative term)

 

[Cusefan0307]

You're a business guy, so I know you get this, but this the sticker cost of a year's tuition isn't anything like the actual cost. Most, if not all schools, play a little game every year with the number of applicants they have, the number of accepted students, and number of students who plan on attending as well as the number of those paying full freight (typically foreign students). If it's looking like they need a 100 additional students to accept, they'll discount the nominal cost through grants and financial aid to increase enrollment. The numbers they worry most about are enrollment and actual revenue.

Most of these schools are run by MBA types with eyes very much fixed to the bottom line. The flow of funds from the AD to the school's coffer is pretty much a straight pipe. Student athletes are billed the full freight cost at sticker and the AD funnels the TV money to the school. If they could charge student athletes more, they absolutely would.

There's students that get let in to SU(and other schools) just because their rich and their parents can pay the full sticker price. That 100% used to happen and I am sure still does. I'm talking about kids rejected from SUNY Schools.

 

[dollarbill44]

It’s not $100,000 but for students enrolled after 2018 it is $83,000 for full cost of attendance not including beer money.

$83k is closer. But, 17% is considered a sizeable variance in the finance world.

 

[Orangezoo]

Where did the $100k number come from? SU doesn't cost anything near $100k per year. My daughter is a senior, so I know very well how much it costs.

Someone else dropped that number. It wasn't that much 20 yrs ago either

 

[Otto'd]

It was one example. I've actually had this conversation with several professors and former professors on the hill I stayed in touch with. In the sense of not taking this OT I will just say this goes directly to the issue of inflated costs for higher education that are not close to representative of cost per student. It simply doesn't cost that much every every student on campus. That whole assumption is just that - an assumption and a bad one at that.

Education , incarceration and health care are all “ for profit” industries. None of them should be. But welcome to America. As long as they are, I’m ok with some students who fill coffers for a bunch of Exploitive profiteers getting some money.

 

[kirbivore]

Innocent college basketball is over. A monster has been created (innocent is a relative term)

Then let's be Daenerys Targaryen and use the beast to our advantage