nationally. Some California colleges are offering financial education designed to prepare athletes to navigate the new landscape. Advocates for the training say it can facilitate further deals, get more athletes to participate, and help athletes avoid agreements that can cost them money in the long run.
“The sooner we can educate, the sooner we can make this a real thing, the better off everybody will be,” Campbell said.earn headlines, most are more humble, according to Opendorse and INFLCR, another company that connects athletes to brands. From July 1 to the end of 2021, INFLCR said its median transaction value was $51.
Team Altemus will also offer financial education at San Diego State on topics such as decision making, due-diligence, money and contracts. Campbell said he wants athletes to understand both how to handle their money and the risks associated with entering a contract, so they can protect themselves. Roman said she mostly analyzes offers on her own. Sometimes she will ask her brother, who is pursuing a master’s degree in business administration, for a second opinion. Typically she asks, “What would you do in this situation? What do you think is better? Do you think it’s worth it?”By clicking subscribe, you agree to share your email address with CalMatters to receive marketing, updates, and other emails.
The university’s athletic department, Merz said, is now working with the law and business school to create a minor that focuses on brand management, marketing, financial responsibility and taxes.Experts interviewed by the College Journalism Network offered some tips for student athletes: First, they should avoid giving a company rights to their name, image and likeness forever, said Matthew Mitten, a sports law professor at Marquette University.
Gianni Galaviz, who plays football at Laney, counts himself a member of those marginalized groups. Growing up in Rodeo, Galaviz transferred high schools because his mother wanted him to get a better education, and was surrounded by students wealthier than his family. But he didn’t learn much about how to make and keep money, he said.
When he was allowed to answer those messages, one of his coaches scanned contracts for any hidden details. “All my coaches have been around pro athletes and have seen the type of deals that people sign with,” Maddox Jr. said. But he’d like to learn those skills himself, he said.