The School Paying $2.48 Million To Student-Athletes & The NFL's First Million-Dollar Super Bowl Suites
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It’s been a pretty busy week so far, and I feel like there have been many interesting news, topics, and articles that I haven’t had the chance to write or tweet about.
So rather than a deep dive on one singular idea, here are a few of the most exciting stories in sports business right now — enjoy!
Ps. I have some family in town for Thanksgiving this week, so I am going to take Thursday and Friday off from writing the newsletter. I hope everyone enjoys the holiday and gets to spend some quality time with their family and friends — I’ll talk to you on Monday.
Ole Miss Becomes The First School To Pay Athletes For Academic Achievement
The new rules enabling college student-athletes to profit off their name, image, likeness have gotten off to an interesting start.
Some of the top college football players in the country are reportedly making close to $1 million or more. However, the median revenue across more than 5,000 transactions on the INFLCR platform is still just $63 — aka the market is extremely top-heavy.
INFLCR Transaction Revenue (July-October 2021)
Transactions Reported: 5,000+
Average Transaction: $1,335
Median Transaction: $63
And as some people expected, nearly 50% of all deals are going to football, men’s basketball, and women’s basketball players.
But here’s the exciting part: Ole Miss has become the first school to implement a program that will pay out $2.48 million to roughly 415 student-athletes (~$6k each).
The catch? You just have to be academically eligible.
Inside Bryce Young’s Pursuit of Excellence
Bryce Young is one of the most talented quarterbacks in college football.
The 6-foot, 194-pound sophomore from California threw for over 550 yards last week against Arkansas, breaking the single-game passing record that stood at Alabama for more than 50 years. He is reportedly earning nearly $1 million from NIL-related deals already and is currently one of the favorites to win this year’s Heisman Trophy.
Simply put, Bryce Young is a celebrity — but he is also still just a 20-year-old kid attempting to navigate the unchartered waters that enabled a collegiate star like himself to (legally) earn life-changing income from his name, image, and likeness.
Mirin Fader is one of my favorite writers, and this is well worth the time.
NFL SELLS FIRST MILLION-DOLLAR SUPER BOWL SUITES
The most expensive suite in Super Bowl history sold for $750,000 at Super Bowl LIV in Miami.
The interesting part? Despite having 90 more suites for sale this year at SoFi Stadium in Los Angeles, the NFL has reportedly already sold multiple suites for $1 million this year — including one for $1.25 million, a 66% increase over the previous record.
They say the demand is “unprecedented,” but American billionaires increased their wealth by nearly $2 trillion during the pandemic (~50%). Is this just a sign of the times?
Why Giannis Antetokounmpo Chose the Path of Most Resistance
Giannis Antetokounmpo has quickly turned into one of the world’s biggest stars.
And this profile by GQ breaks it all down — his journey from selling trinkets on the streets of Greece to an NBA Championship and a $228 million contract, the immense gratitude he has for his mother after watching his partner give birth twice, and the inside story on how his body almost betrayed him during the 2021 NBA Finals.
This was a rare behind-the-scenes look at the “Greek Freak” — highly recommend.
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THE JOE POMP SHOW: My conversation with Will Compton is live!
In addition to nearly a decade-long career as an NFL linebacker, Will Compton has built the popular podcast Bussin' With The Boys.
Transitioning to the NFL
Financial education & leadership
Building a podcast while in the NFL
The best athlete he’s ever played with
This was an awesome conversation. Enjoy!
You can also watch the YouTube video below.