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Discover How New NCAA Ruling Will
Economically Boost Blacks In College Sports
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| The Florida State Seminoles and Georgia Tech Yellow Jackets during the 2014 ACC Championship Game Picture Courtesy Wikipedia | By Thomson200 - Own work, CC0, |
Written By Award Winning Entrepreneur Chuck Starks
The latest NCAA Ruling (backed by the Supreme Court) that allows student athletes to receive money for their image and likeness will change the financial prospects of many Black families in America within a very short period of time.
Since students can get paid directly from sponsors, schools and others, that income will translate into an increase in the median net worth of Black people as a whole.
Most Black families have one or more athletes in their family.
Sports is what we do.
Black Americans are the best in the world and we excel in sports at a younger age. I estimate that students as young as 12 years old will start receiving a monthly sponsorship (income) from schools, major sporting goods companies (Nike, New Balance, Adidas, etc.) as well as money from sports agents who will pay them for a first-right-of-refusal to represent them in the future if they go pro.
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Without Being An Athlete, Entertainer, or Drug Dealer
Black wealth is only 10% of white wealth now. Do you know Black wealth is projected to have a median income of zero by 2053?
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This should equate to millions or possibly billions of dollars going directly into the hands of Black families each year. No longer will Black parents have to foot the entire bill to keep their children in sports and they could also use the money to bolster the family budget and increase their overall quality of life.
While the money coming in could increase the lifestyle and quality of life for many Black families, that money will not make most of them rich. No longer will their parents, grandma or grandpa have to send them money from their income or social security checks to help them stay in school, but Blacks will also need a plan to capitalize on that income by making quality investments. That is why my book, “Get Rich While Black… without Being an Athlete, Entertainer or Drug Dealer’, is still relevant and should be studied.
Under the old NCAA System, athletes could receive an education, housing, food and books, but they could not receive money directly from schools or sponsorships for personal expenses, clothes, transportation and other things that students need. Students could not receive pocket money and many had virtually no money at all.
I know a successful Black student athlete who was on TV having a great game and being interviewed by all the major sports networks after the game and could not go to the victory party because he did not have enough money to wash his clothes at the local laundromat.
Black students will now have money to really enjoy their high school or college life the way they should and they will also be able to give money to their parents and maybe even buy granny a new car.
Black student’s efforts in sports have put billions of dollars into the coffers of many schools and now they will be able to reap the benefits of their talent in the form of cash (money, moola, scratch).
This new NCAA Ruling is very significant and alters the estimate that Black median wealth will be reduced to zero by 2053, as has been widely reported.
Since students can make an income while in school, more students can stay and get a degree instead of leaving school early to go into professional sports to make money.
The new NCAA Ruling is a game-changer and Black people and the country as a whole will benefit.
Bio: Chuck Starks, Author, “Get Rich While Black… without Being an Athlete, Entertainer or Drug Dealer.” Where to Order?
Checkout My Exclusive Interview with Author Chuck Starks Click Here
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Posted by community events coordinator, Nzinga Lonstein Austin, is a prolific blogger who writes on the entertainment industry and issues for people with developmental and physical challenges.
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