Latest / Earn Your Leisure / The Truth About NIL: What Every Athlete & Parent Needs to Know

Transcript

The Truth About NIL: What Every Athlete & Parent Needs to Know · Earn Your Leisure

• 0:01
  Speaker 1: This episode is brought to you by P and C Bank.
• 0:03
  Speaker 1: A lot of people think podcasts about work are boring,
• 0:06
  Speaker 1: and sure they definitely can be, but understanding a professionals
• 0:10
  Speaker 1: routine shows us how they achieve their success little by little,
• 0:14
  Speaker 1: day after day. It's like banking with P and C Bank.
• 0:18
  Speaker 1: It might seem boring to safe plan and make calculated
• 0:21
  Speaker 1: decisions with your bank, but keeping your money boring is
• 0:24
  Speaker 1: what helps you live or more happily fulfilled life. P
• 0:27
  Speaker 1: and C Bank Brilliantly Boring since eighteen sixty five. Brilliantly
• 0:32
  Speaker 1: Boring since eighteen sixty five is a service mark of
• 0:35
  Speaker 1: the PNC Financial Service Group, Inc. P and C Bank
• 0:39
  Speaker 1: National Association Member FDIC.
• 0:43
  Speaker 2: A lot of times people think nil and they're thinking
• 0:45
  Speaker 2: of like the most high level player in the world
• 0:47
  Speaker 2: than somebody that's getting five million dollars. But explain how
• 0:51
  Speaker 2: players are getting nil deals that you've never heard of,
• 0:54
  Speaker 2: players that, like you said, a fourth round draft pick
• 0:57
  Speaker 2: that's getting million dollars, or players getting thirty thousand dollars
• 1:01
  Speaker 2: from a mid major or a low major. D one
• 1:03
  Speaker 2: like set that level of expectation, because I think that
• 1:06
  Speaker 2: that's something that a lot of people could relate to,
• 1:08
  Speaker 2: and they might not be aware that you can still
• 1:12
  Speaker 2: get money in the nil world even if you're not
• 1:14
  Speaker 2: a household name. And like I said, all you guys
• 1:16
  Speaker 2: can chime in on that.
• 1:19
  Speaker 3: Okay, you want to start or.
• 1:21
  Speaker 2: Whoever time do you want to start?
• 1:22
  Speaker 4: Yeah, I was just talking about that the other day.
• 1:26
  Speaker 4: It's a kid that rafit University that's getting seven hundred
• 1:31
  Speaker 4: thousand dollars. So and these are facts. So what I
• 1:39
  Speaker 4: say to the youth is that in parents, it was
• 1:42
  Speaker 4: a time where people used to say, don't put your
• 1:44
  Speaker 4: eggs in one basket. Sports matters, It matters a lot.
• 1:50
  Speaker 4: It's taking kids from high school to become entrepreneurs.
• 1:57
  Speaker 2: Like we don't need the NBA anymore.
• 2:00
  Speaker 4: Which is an organization. Well, we need parents to really
• 2:02
  Speaker 4: focus on that that sports can make a huge difference.
• 2:08
  Speaker 4: And I'm not saying, you know, it's the it's the
• 2:11
  Speaker 4: all and be all, but because in my life has
• 2:15
  Speaker 4: been you know, help with sports, I think that's that's
• 2:18
  Speaker 4: very important. So like he was saying, you don't have
• 2:21
  Speaker 4: to be the McDonald American. You you don't have to
• 2:24
  Speaker 4: be the start and five on on on your high
• 2:26
  Speaker 4: school team. You stay with it and you can you
• 2:30
  Speaker 4: could benefit from nil, which is you know, which is excellent.
• 2:33
  Speaker 3: There's nil which is a real nil, which is what
• 2:37
  Speaker 3: it was originally made for, where you can actually go
• 2:40
  Speaker 3: out there and get a brand endorsement deal where you
• 2:43
  Speaker 3: promote a brand or create a partnership with a brand
• 2:46
  Speaker 3: and you get paid for that. The number two ways
• 2:49
  Speaker 3: from collectives colleges now have created since this inception. They
• 2:54
  Speaker 3: created uh collectives which are not run by the school.
• 2:58
  Speaker 3: At first it was run by boosters, which is alumni,
• 3:02
  Speaker 3: and they came in and they set up partnerships for you,
• 3:06
  Speaker 3: and it was kind of hid and pay for play,
• 3:08
  Speaker 3: but that was the way they disguised it in marketing brands.
• 3:12
  Speaker 3: The third way now which came in to play July
• 3:15
  Speaker 3: one through Congress. It's called revenue share, and now schools
• 3:21
  Speaker 3: can pay you directly from their funds, and that for
• 3:25
  Speaker 3: the most part is pay for play. So those are
• 3:29
  Speaker 3: the three ways you can get paid. And with the
• 3:33
  Speaker 3: revenue share, schools can play up to twenty two million dollars.
• 3:38
  Speaker 3: They have a budget, they're allowed to use up to
• 3:40
  Speaker 3: twenty two million dollars for college rep share and that's
• 3:44
  Speaker 3: for their whole budget. For all their teams. For the
• 3:49
  Speaker 3: most part of that, football is going to get the
• 3:51
  Speaker 3: biggest part if they have football. Every school has a
• 3:54
  Speaker 3: different percentage, but it has to be broken down and
• 3:57
  Speaker 3: that's the way. Those are the three ways they can
• 3:59
  Speaker 3: pay a college athlete.
• 4:02
  Speaker 5: Yeah, football is gonna get the most because football is
• 4:06
  Speaker 5: making the most money when you talk about rev share.
• 4:09
  Speaker 5: But I guess to answer your question, the cop kids
• 4:14
  Speaker 5: can make significant amount of money in college and it's
• 4:17
  Speaker 5: not just a high D one level to Power five level.
• 4:21
  Speaker 5: You know, you got kids at mid major level making
• 4:23
  Speaker 5: one two hundred and fifty thousand dollars a year. That's
• 4:27
  Speaker 5: more than some of these kids families make. So college
• 4:30
  Speaker 5: sports is actually a serious, serious business, and it's very
• 4:34
  Speaker 5: important that these kids get the right advice and have
• 4:37
  Speaker 5: the right team around them. I did a deal for
• 4:40
  Speaker 5: a kid making five hundred thousand dollars who might not
• 4:43
  Speaker 5: even start at college. If you could do that for
• 4:46
  Speaker 5: four or five years, you would have made more money
• 4:49
  Speaker 5: than some kids parents would have made in a lifetime.
• 4:53
  Speaker 5: So you can't just you know, gloss over this what's
• 4:56
  Speaker 5: happening and what's going on. It's serious business and it's serious.
• 5:00
  Speaker 5: It's money.
• 5:01
  Speaker 2: So you are a lawyer, you drew up contracts and
• 5:04
  Speaker 2: you actually was just educating me backstage, all of you guys.
• 5:07
  Speaker 2: As far as nil deals, they're not all the same.
• 5:09
  Speaker 2: I thought it was like a standard like a scholarship
• 5:11
  Speaker 2: right where you signed scholarship papers, that all the scholarship
• 5:14
  Speaker 2: papers are the same. So you're negotiating nil deals, right,
• 5:18
  Speaker 2: So what's some things to look out for and what's
• 5:22
  Speaker 2: some things to add? What's some clauses, like, what's some
• 5:24
  Speaker 2: things to be aware of? Greg, you can answer that
• 5:27
  Speaker 2: as well.
• 5:27
  Speaker 3: Well. I'll start off by saying this. The colleges now
• 5:31
  Speaker 3: are going to a pro model. It's pro sports. If
• 5:34
  Speaker 3: you google and look what's going on. All these schools,
• 5:37
  Speaker 3: starting at the top, they're hiring people from pro teams
• 5:41
  Speaker 3: basketball and football. Most powerfied schools now football and basketball.
• 5:45
  Speaker 3: I say about eighty percent of them have what you
• 5:47
  Speaker 3: call as a general manager. You know, we're supposed to
• 5:51
  Speaker 3: have Danie Abrams, which is that's his position in Boston
• 5:54
  Speaker 3: College basketball. He couldn't make it today, but they hire
• 5:57
  Speaker 3: those guys. And some of these schools also have guys
• 6:00
  Speaker 3: which is the salary cap. So their jobs between those
• 6:03
  Speaker 3: two guys. They manage the roster roster construction, and they
• 6:08
  Speaker 3: manage the portal acquisitions, and they talk with the agents.
• 6:13
  Speaker 3: So when you're hiring people to talk with agents, their
• 6:17
  Speaker 3: job is to do school friendly deals to make sure
• 6:22
  Speaker 3: they protect that money for the school. Same way if
• 6:25
  Speaker 3: you're with the New York Jets, their job is to
• 6:28
  Speaker 3: make sure that they benefit from the contract. So when
• 6:33
  Speaker 3: you have that and you may have somebody that's negotiating
• 6:36
  Speaker 3: for you that does not have the experience of someone
• 6:39
  Speaker 3: like a lawyer or an agent, now you're putting yourself
• 6:42
  Speaker 3: at a disadvantage. So I do NFL contracts, we did
• 6:48
  Speaker 3: with a collective bargain agreement, and most of those contracts
• 6:52
  Speaker 3: the template is the same. One thing that we're going
• 6:55
  Speaker 3: to negotiate is, of course the amount of money and
• 7:00
  Speaker 3: of the language. When you're dealing with a college, you're
• 7:04
  Speaker 3: dealing with over three hundred and something different Division I schools.
• 7:07
  Speaker 3: I haven't seen the same contract yet. Every contract's different,
• 7:12
  Speaker 3: and they're every every contracts different. So their job is
• 7:16
  Speaker 3: to protect the money for the University of Maryland. So
• 7:20
  Speaker 3: trust me, when they have somebody come in and they
• 7:22
  Speaker 3: might say, oh, it's the dad that they realize that
• 7:26
  Speaker 3: dad has no experience in negotiating and all that they
• 7:30
  Speaker 3: will love. They love that they will try to take
• 7:33
  Speaker 3: advantage of you.
• 7:34
  Speaker 5: Yeah, especially if they're trying to get the killed I'm
• 7:36
  Speaker 5: tak at one point that you made earlier. So a
• 7:40
  Speaker 5: lot of kids, you know, they don't have their friend
• 7:42
  Speaker 5: or family member representing them. It's not necessarily that they
• 7:45
  Speaker 5: have the bad intention, it's just they don't have the
• 7:50
  Speaker 5: experience or the knowledge or the acumen to make sure
• 7:53
  Speaker 5: that you're doing what's in the best centrist of the athlete,
• 7:55
  Speaker 5: the student athlete. So there's a lot of different things
• 7:58
  Speaker 5: that could be in in a agreement with the university.
• 8:02
  Speaker 5: How the money is paid out, which can be tricky.
• 8:05
  Speaker 5: Kid can say college coach say, hey, you come to
• 8:07
  Speaker 5: my school. I'm gonna pay you two hundred and fifty
• 8:09
  Speaker 5: thousand dollars to play. They could be provisions in there
• 8:13
  Speaker 5: if the kid plays that year, you know, if he's
• 8:16
  Speaker 5: not red shirt. They could be how the money is
• 8:18
  Speaker 5: broken down. Some schools will pay it monthly. Some schools
• 8:21
  Speaker 5: will try to back end the money so that if
• 8:25
  Speaker 5: the kid enters the portal, then the payments stop right away.
• 8:28
  Speaker 5: I mean Some of this is technical, but that's why
• 8:30
  Speaker 5: you should get a lawyer to review the agreement because
• 8:33
  Speaker 5: there could be different provisions in there or conditions in
• 8:36
  Speaker 5: there that could prevent the kid from actually getting the
• 8:39
  Speaker 5: money or all the money that the kid signed up
• 8:42
  Speaker 5: to go to that university for I'm.
• 8:44
  Speaker 4: Going to add to that. So let's go down a
• 8:47
  Speaker 4: little level. Let's go down before you get to that level.
• 8:51
  Speaker 4: I'm on the high school level right and recently I
• 8:55
  Speaker 4: seen contracts of kids with Nio Dell's that's still in
• 8:59
  Speaker 4: high school. To all you guys that's still in high school,
• 9:03
  Speaker 4: you know you have a chance to benefit, but it's
• 9:05
  Speaker 4: tricky and it's dangerous. What I'm trying to say is this,
• 9:09
  Speaker 4: it's a lot of people what I call the BAC,
• 9:13
  Speaker 4: the Bad Advice Crew. They will forward you you're in
• 9:16
  Speaker 4: io deal, say you're the top south one in the country.
• 9:21
  Speaker 4: They give you one hundred thousand, they get it back
• 9:23
  Speaker 4: from the colleges, so you're not really and no money
• 9:28
  Speaker 4: coming out your pocket and no money coming out they pocket.
• 9:32
  Speaker 4: But now they got you tied down.
• 9:34
  Speaker 1: Ernest, what's up? Look, this episode is brought to you
• 9:37
  Speaker 1: by Square Banking. One of the things we love most
• 9:40
  Speaker 1: is seeing neighborhood businesses level up. There is this West
• 9:43
  Speaker 1: Indian spo right in our community that started with a
• 9:46
  Speaker 1: small takeout counter. Now with Square they've been able to
• 9:49
  Speaker 1: expand into a full sit down restaurant and even started
• 9:52
  Speaker 1: catering events across the city. That's the kind of growth
• 9:56
  Speaker 1: that inspires us, and it's powered by Square. Square is
• 10:00
  Speaker 1: built for all types of businesses, from the corner bagel
• 10:02
  Speaker 1: shop that turned into a local chain, to the specialty
• 10:06
  Speaker 1: market with thousands of unique items, to the stylists who's
• 10:09
  Speaker 1: been holding you down for years. With Square banking, growth
• 10:13
  Speaker 1: gets easier. You've got more control over your cash flow,
• 10:16
  Speaker 1: access to capital right in the same system you're already
• 10:20
  Speaker 1: using to run your business, and with a free Square
• 10:22
  Speaker 1: savings account, you can automatically set aside a portion of
• 10:26
  Speaker 1: your sales for upgrades, taxes, and those slow seasons, setting
• 10:30
  Speaker 1: yourself up for long term success and when it's time
• 10:33
  Speaker 1: for the next big move. Square makes it simple to
• 10:36
  Speaker 1: get approved with a Square loan based on your actual
• 10:39
  Speaker 1: business performance. No long ways, just quick access to capital.
• 10:44
  Speaker 1: In fact, eighty eight percent of businesses with Square loans
• 10:47
  Speaker 1: report growth. So go to Square Dot com slash go
• 10:51
  Speaker 1: slash eyl to learn more about how your business can
• 10:55
  Speaker 1: grow with Square. That's Square dot com, slash go, o
• 11:01
  Speaker 1: slash eyl. Block Inc. Is not a bank. Banking services
• 11:05
  Speaker 1: provided by Square Financial Services Inc. And certain bank members
• 11:09
  Speaker 1: fdi C loans are subject to credit approval.
• 11:14
  Speaker 4: And now you gotta follow what they asked you to
• 11:16
  Speaker 4: do because you're getting paid. That's on I will level.
• 11:21
  Speaker 4: So this is serious business, serious businesses. We gotta watch out.
• 11:24
  Speaker 4: We got to watch all youth, but we gotta watch
• 11:26
  Speaker 4: our communities. So chiny of On follow up with you.
• 11:31
  Speaker 4: As far as on the high school level, we have
• 11:34
  Speaker 4: another legendary high school coach is to coach Amino.
• 11:37
  Speaker 2: Appreciate them coming. What's your advice for young people as
• 11:41
  Speaker 2: far as how they're managing their brands on social media?
• 11:44
  Speaker 2: Some of the things that you're seeing currently you coach
• 11:47
  Speaker 2: the Nike Elaite team this time, I spoke to the
• 11:49
  Speaker 2: guys when you were there, So like, what are you
• 11:51
  Speaker 2: seeing from the grassroots level right now twenty twenty five
• 11:56
  Speaker 2: that can either be helpful or harmful for young people?
• 12:00
  Speaker 4: Yeah, that's that's that's deep. I went to this school
• 12:03
  Speaker 4: back in the nineties and we didn't have the social
• 12:06
  Speaker 4: media that we had now, so it was totally different.
• 12:08
  Speaker 4: But what I am saying it's two things. You know,
• 12:12
  Speaker 4: I believe social media is probably you know, one of
• 12:15
  Speaker 4: the worst things and the best thing that happened to
• 12:16
  Speaker 4: us as a community. The kids are becoming a little
• 12:22
  Speaker 4: bit more professional, they are becoming entrepreneurs, but they take
• 12:27
  Speaker 4: the integior out of the game. It's impossible for you
• 12:31
  Speaker 4: to uh make every shot to play play good all
• 12:37
  Speaker 4: the time, so that's not the reality of it. So
• 12:39
  Speaker 4: the social media part is really I believe, taking an
• 12:43
  Speaker 4: integratty game. But I also feel that the high school
• 12:47
  Speaker 4: coach has got to be more of just being an
• 12:50
  Speaker 4: excell no guy. They really got to get involved because
• 12:53
  Speaker 4: social media do matters. And if you're a coach that
• 12:57
  Speaker 4: don't want to get involved with the social media, you're
• 12:59
  Speaker 4: not they trying to help the kid go to the
• 13:01
  Speaker 4: next level on all phases. So it's it's a give
• 13:05
  Speaker 4: and take. And I think, you know, I go back
• 13:07
  Speaker 4: to the parents, I go back to the mentors, the
• 13:11
  Speaker 4: high school coaches, the grassroot people. It's got to be
• 13:15
  Speaker 4: a collective uh teamwork. You know, it's this is called
• 13:19
  Speaker 4: it's called grassroots for a reason. It's not about the
• 13:22
  Speaker 4: high school coach. It's about the whole community understanding that
• 13:26
  Speaker 4: there's a chance of us, you know, benefiting.
• 13:29
  Speaker 2: So, Matt, let me ask you as far as I'm a,
• 13:35
  Speaker 2: I'm a I'm a good player in high school right
• 13:39
  Speaker 2: I'm averaging seventeen points and I'm getting recruited by a
• 13:44
  Speaker 2: bunch of mid major schools right now. Do I go
• 13:49
  Speaker 2: to an agent like Greg? Do I go to a
• 13:52
  Speaker 2: lawyer like yourself? Do I go to both?
• 13:56
  Speaker 3: Like?
• 13:56
  Speaker 2: Who do I contact first?
• 13:58
  Speaker 5: That's that's a good, good question and that we could
• 14:00
  Speaker 5: probably go spin around for this. So hopefully, as a
• 14:03
  Speaker 5: high school athlete, I'm doing well in high school, Hopefully
• 14:07
  Speaker 5: I'm affiliated with the good grassroots mentor coach organization that's
• 14:13
  Speaker 5: going to help guide me, that has experienced God and
• 14:16
  Speaker 5: other players. Those are questions that parents we should ask.
• 14:20
  Speaker 5: The reason why I could jump into it because I
• 14:21
  Speaker 5: have a kid that's going through this now too. You
• 14:24
  Speaker 5: want to see the organizations or the school that your
• 14:27
  Speaker 5: kid is playing for or participating in. What's their history,
• 14:30
  Speaker 5: what's their track record? What other kids have they successfully
• 14:34
  Speaker 5: helped matriculate do college or you know, everybody's not gonna
• 14:38
  Speaker 5: make it to the league, so you know what you know.
• 14:40
  Speaker 5: So those are the things that I look for, like
• 14:42
  Speaker 5: what what kids went through that program? But for me,
• 14:45
  Speaker 5: I think a lawyer. I mean I'm biased, but I
• 14:47
  Speaker 5: think a lawyer is a critical part of the team
• 14:49
  Speaker 5: for any family making any decisions, because once contracts are involved,
• 14:54
  Speaker 5: you need to make sure somebody's going to fully advise
• 14:59
  Speaker 5: you and explain you know, every provision that's in there,
• 15:01
  Speaker 5: and don't take things for granted. You know, the agent
• 15:05
  Speaker 5: is more probably more so important in college basketball than
• 15:09
  Speaker 5: ever before somebody like a greg because now kids are
• 15:13
  Speaker 5: entering the portal after one year going to another school
• 15:16
  Speaker 5: to get more money. As a lawyer, I'm not in
• 15:19
  Speaker 5: that world every day to know what college is looking
• 15:22
  Speaker 5: for a point guard or or running back or a quarterback.
• 15:25
  Speaker 5: An agent is probably way more verse at helping the
• 15:28
  Speaker 5: kids just navigate its way through college before you even
• 15:31
  Speaker 5: get to the pros, because now you got the portal
• 15:34
  Speaker 5: that's helping kids go to school and get paid more
• 15:37
  Speaker 5: money than what they did when they came out of
• 15:39
  Speaker 5: high school. But I think it's a whole collect of
• 15:41
  Speaker 5: the team. You know, the person they trust from the grassroots,
• 15:45
  Speaker 5: the lawyer that's going to advise you and the family
• 15:48
  Speaker 5: and the parents, the agent that you could trust. And
• 15:50
  Speaker 5: it's kind of like a checks and balance is you know,
• 15:53
  Speaker 5: you don't want the agent putting something in front of
• 15:54
  Speaker 5: you that you don't understand.
• 15:56
  Speaker 2: Either, you know. That's my two cents, Greg talk about
• 15:59
  Speaker 2: the because we're seeing kids that's transferring every year, and
• 16:05
  Speaker 2: it's even crazy than the NBA or NFL because at
• 16:07
  Speaker 2: least you have you have to stay with your team
• 16:10
  Speaker 2: for a certain amount of years unless you get traded.
• 16:12
  Speaker 2: But this is like everybody in the NBA has a
• 16:14
  Speaker 2: one year contract. That's how crazy it would be, right,
• 16:17
  Speaker 2: So you have that hundreds of thousands of kids that's
• 16:20
  Speaker 2: transferring every single year, even if it's not a bad situation,
• 16:24
  Speaker 2: just because they can get more money. So, how do
• 16:26
  Speaker 2: you advise players in the portal as far as like
• 16:29
  Speaker 2: making the right decision and what'sh your process as far
• 16:32
  Speaker 2: as making sure you're in tune with all of the
• 16:35
  Speaker 2: general managers to see, like, you know, what's going on
• 16:38
  Speaker 2: in the world.
• 16:39
  Speaker 3: Good question. Every situation is different. Some kids you you.
• 16:46
  Speaker 2: Don't want to move.
• 16:48
  Speaker 3: You may think the grass is greening. On the other side,
• 16:50
  Speaker 3: brown grass might be brown grass if you're moving. What
• 16:53
  Speaker 3: you also got to take into account is and also
• 16:56
  Speaker 3: they're already trying to review that and switch that role,
• 16:58
  Speaker 3: not switch it, but trying to go back to the
• 17:01
  Speaker 3: one one time transfer rule in the portal, which I
• 17:03
  Speaker 3: think makes a lot of sense. You got a lot
• 17:05
  Speaker 3: of these guys. You know you might be getting two
• 17:07
  Speaker 3: hundred thousand from one school. You want to jump into
• 17:10
  Speaker 3: the portal and try to get two fifty. You got
• 17:12
  Speaker 3: some guys. Now on the average, you're going to have
• 17:15
  Speaker 3: kids that have four schools on their resume. Where are
• 17:20
  Speaker 3: you going back for homecoming? I mean that's number one.
• 17:24
  Speaker 3: Number two, all these credits aren't transferring. Coach from this
• 17:29
  Speaker 3: school is going to have you eligible to play for
• 17:32
  Speaker 3: those However, when you go across the bridge and you
• 17:36
  Speaker 3: try to get that business degree, some of those credits.
• 17:41
  Speaker 3: If you're at Morgan and you coming from a lower
• 17:43
  Speaker 3: school like Howard, I'm just messing with my man, right,
• 17:48
  Speaker 3: and your credits might not transfer over. But now you
• 17:52
  Speaker 3: get out of there in four years, you think you're graduating,
• 17:55
  Speaker 3: but you're not. Now you look, you probably got another
• 17:58
  Speaker 3: year and a half semesters. So that's one thing I'm
• 18:02
  Speaker 3: trying to tell the kids. I would never try to
• 18:04
  Speaker 3: advise a kid to move just for some money, unless
• 18:07
  Speaker 3: maybe it's some life changing money, or it's a situation
• 18:10
  Speaker 3: where you're a quarterback and this system's not working for you,
• 18:14
  Speaker 3: but you know, you look like you have pro potential
• 18:17
  Speaker 3: and I'm telling you to go in this offense they
• 18:19
  Speaker 3: want you, and I know what they got there, and
• 18:21
  Speaker 3: I know where you would be on the depth chart.
• 18:24
  Speaker 3: I think that's the advantage of going with That's the
• 18:26
  Speaker 3: difference in sometimes going with an agent versus a lawyer.
• 18:30
  Speaker 2: You know what the Lamar Jackson Jones, right, the athlete
• 18:32
  Speaker 2: that said, I don't need an agent, Right, I'm gonna
• 18:34
  Speaker 2: have my mom represent me because I'm gonna save the
• 18:38
  Speaker 2: five percent that I'm going to play the agent and
• 18:40
  Speaker 2: I'm gonna do it that way.
• 18:41
  Speaker 3: Ok Jaylen Brown too, Yeah, Okay, so it wasn't five
• 18:43
  Speaker 3: percent and you saving three. But let this go viral.
• 18:46
  Speaker 3: He did not do the contract, all right, Mark Levin
• 18:49
  Speaker 3: from the NFLPA did the contract. I mean, she did
• 18:53
  Speaker 3: not do the contract. She's not a certified agent. Teams
• 18:56
  Speaker 3: in the NFL cannot negotiate with anybody unless they're a
• 18:59
  Speaker 3: certified day So that's number one, and I'm not knocking him,
• 19:03
  Speaker 3: but he played well enough to establish himself to say, listen,
• 19:07
  Speaker 3: I'm just going to have somebody from the PA help
• 19:10
  Speaker 3: me with this contract. They are not up to doing
• 19:13
  Speaker 3: that for fifteen hundred players or whatever amount of players
• 19:17
  Speaker 3: in the NFL. So if you're an elite like that,
• 19:19
  Speaker 3: then that's fine, you can do that. The average guy
• 19:22
  Speaker 3: cannot do that. That's I don't I wouldn't recommend it
• 19:25
  Speaker 3: for them going into free agency and trying to find
• 19:27
  Speaker 3: out which of these thirty two teams is going to
• 19:30
  Speaker 3: pay him the most and be better fit him. If
• 19:33
  Speaker 3: you're not certified, and if you're representing yourself, you know
• 19:37
  Speaker 3: what they say. You know you represent yourself as a lawyer,
• 19:40
  Speaker 3: You got a fool for a client.
• 19:43
  Speaker 5: I would just add to that just that there's so
• 19:45
  Speaker 5: many examples in this because I don't want to like
• 19:47
  Speaker 5: starve bad mouth and athletes. There's so many examples of
• 19:51
  Speaker 5: athletes that have that could have benefited from having an
• 19:55
  Speaker 5: agent or a better agent like that, have me moves
• 19:58
  Speaker 5: that have cost them millions and millions of dollars. I
• 20:01
  Speaker 5: think the value of the agent comes from is somebody
• 20:05
  Speaker 5: that knows the business, knows the landscape that could help
• 20:09
  Speaker 5: you navigate. Because, yeah, the NFL has boilerplate, they have
• 20:12
  Speaker 5: a collective bargain degree in NBA has a collective bargain agreement.
• 20:15
  Speaker 5: There's only so much money you're gonna make depending on
• 20:18
  Speaker 5: where you're drafted, what your position is, what your level is.
• 20:22
  Speaker 5: This that part is fair. So from an athlete saying
• 20:26
  Speaker 5: it's already determined what I'm gonna make, I get that.
• 20:29
  Speaker 5: But what about when it's time to get traded or
• 20:32
  Speaker 5: free agency and moving around, you can't. You can't pay
• 20:36
  Speaker 5: for the value of an agent that has relationships and
• 20:40
  Speaker 5: connections to talk to owners and managers and help you
• 20:44
  Speaker 5: navigate that. And now that's trickling down into college and
• 20:47
  Speaker 5: even in the high school. So that's the value to
• 20:50
  Speaker 5: me and on Like.
• 20:51
  Speaker 3: For example, on the NFL, we was back there and
• 20:56
  Speaker 3: Tony saw me looking at my phoney. He's like, we
• 20:58
  Speaker 3: missing some games. But what I'm mainly do on a Sunday,
• 21:01
  Speaker 3: I'm looking at stats. But the other main thing I'm
• 21:04
  Speaker 3: looking at, unfortunately, is the injury report, because if a
• 21:08
  Speaker 3: player gets injured now I have to manage him through
• 21:10
  Speaker 3: that situation. I had a cornerback I represent on the
• 21:13
  Speaker 3: Arizona Cardinals last year, last just right now, last week,
• 21:17
  Speaker 3: he got hurt. He got back in the locker room.
• 21:20
  Speaker 3: I called the GM and they said it looking like
• 21:22
  Speaker 3: the ACL. All right, well soon you got to get
• 21:25
  Speaker 3: the MRI. Send it to me. I'm sending it to
• 21:27
  Speaker 3: what is called a second opinion that's not affiliated with
• 21:30
  Speaker 3: the team. Sending it down to a second opinion. Turns
• 21:33
  Speaker 3: out it's a Grade three MCL only eight weeks where
• 21:36
  Speaker 3: the team was automatically assuming he was going to be
• 21:39
  Speaker 3: out for the season. So that's not something you can
• 21:41
  Speaker 3: do if you're representing yourself. So managing the athlete is
• 21:45
  Speaker 3: more than just negotiating the contract. If he's unhappy, he's
• 21:49
  Speaker 3: talking to the team and the personnel. Can we move him?
• 21:52
  Speaker 3: Should we move him? What is really going on? If
• 21:55
  Speaker 3: he's fine, I gotta go and do an appeal. On tuesdays,
• 21:58
  Speaker 3: I got to sit on the phone to do a
• 21:59
  Speaker 3: p he was fined for having the wrong colored socks
• 22:04
  Speaker 3: in the NFL. That's something you cannot do. I don't
• 22:06
  Speaker 3: think you can do if you're you know, a plumber
• 22:09
  Speaker 3: or HVC. You know, if you're doing something else, not
• 22:12
  Speaker 3: knocking those professions. But that's what we get paid to do,
• 22:16
  Speaker 3: is managing the athlete. So it's more than just negotiating
• 22:19
  Speaker 3: the contract.
• 22:20
  Speaker 6: After the athlete stop stop playing, what are the I
• 22:25
  Speaker 6: guess best prospects to get them seeing themselves as a
• 22:29
  Speaker 6: brand and how they can build intellectual property and have
• 22:34
  Speaker 6: longevity in their name, image and likeness.
• 22:37
  Speaker 4: It's trickling it now. So now in high school, if
• 22:41
  Speaker 4: you're getting paid, you should be investing your future in
• 22:45
  Speaker 4: high school. So like we were talking about, a guy
• 22:47
  Speaker 4: can make money at twenty at the age of twenty,
• 22:51
  Speaker 4: money in life shurance, some money somewhere for twenty years.
• 22:55
  Speaker 4: So they got to trickle down. Those are the conversations
• 22:57
  Speaker 4: that got to start earlier. Having a sports school it's
• 23:01
  Speaker 4: probably probably a best route right now.
• 23:05
  Speaker 5: I think the financial advisor piece is probably the most
• 23:07
  Speaker 5: important piece right now for these kids in college because
• 23:11
  Speaker 5: we already know the majority of the kids are not
• 23:14
  Speaker 5: going to make it to the league. So they got
• 23:16
  Speaker 5: four or five years where they're making two fifty three hundred,
• 23:19
  Speaker 5: five hundred thousand, some of them a million dollars, and
• 23:22
  Speaker 5: that might be it, you know what I mean, besides
• 23:24
  Speaker 5: whatever they do after that, but if they have the
• 23:26
  Speaker 5: right financial person involved in them that has helped them
• 23:30
  Speaker 5: invest it and it's not just the whipping the chains
• 23:33
  Speaker 5: and they actually got some solid investments like that. Those
• 23:38
  Speaker 5: are the success stories that I would love to start hearing,
• 23:40
  Speaker 5: and the financial person is probably the most important part.
• 23:44
  Speaker 2: I think. Also just building your brand while you're still
• 23:46
  Speaker 2: in college too. Like Sharloh Sanders, I think it's a
• 23:48
  Speaker 2: great example of that not the best player in the world,
• 23:51
  Speaker 2: but got a great personality. And so when he does
• 23:54
  Speaker 2: get cut, I don't know if he got cut, I
• 23:56
  Speaker 2: don't know if he'll be able to get another shot.
• 23:58
  Speaker 2: But he's not desperate. He's already making content. He already
• 24:01
  Speaker 2: has a social media following. I think he's going to
• 24:04
  Speaker 2: do good as far as like his brand has already
• 24:07
  Speaker 2: been built and he was building that brand through college. Yeah,
• 24:10
  Speaker 2: so I think playing that set, especially if you already
• 24:13
  Speaker 2: have some level of emotion, some personality, social media gives
• 24:16
  Speaker 2: you a great platform to kind of already brand yourself.
• 24:19
  Speaker 2: So even if it doesn't work out for you, at
• 24:21
  Speaker 2: least you have a springboard