|
|
|
|
|
|
|
|
|
|
|
Discussion Topic: Name Image Likeness $
Justin Hayes added to this discussion on May 1, 2024
|
The noteworthy amount of NIL $ being given to college wrestlers in some instances is unprecedented.
Hypothetically, if you were a #1 wrestling recruit how much would NIL influence where you decided to initially attend/compete?
Along the same lines, except you are a returning NCAA champion, what price (if any) would it take for you to enter the transfer portal?
|
|
|
|
|
Discussion Topic: Name Image Likeness $
Jack Muni added to this discussion on May 1, 2024
|
Is wrestling at OSU considered a money sport? Do they take in more $ than they use? Just curios since the NIL $ seems out of whack if those numbers are true.
|
|
|
|
|
Discussion Topic: Name Image Likeness $
Ben Golden added to this discussion on May 2, 2024
|
I imagine wrestling is not a "profitable" sport for OSU... and of course it would depend on how you're measuring.
Since all of their scholarships are endowed, you might say that doesn't count as a cost (or you could say that endowment interest could otherwise be used).
In a recent interview, Tom Ryan mentioned that they had about $500k in ticket sales last year. I doubt that fully covers wrestling's budget, but it probably covers a healthy fraction of it. Do they have other revenue streams associated with the wrestling program? I don't know.
|
|
|
|
|
Discussion Topic: Name Image Likeness $
Brian Mathews added to this discussion on May 2, 2024
|
|
Quote from Justin Hayes's post:
|
|
"Hypothetically, if you were a #1 wrestling recruit how much would NIL influence where you decided to initially attend/compete?"
|
It would be a major consideration. In this environment, if you're a #1 recruit you have a legitimate opportunity to set yourself up extremely well financially for the rest of your life. Who leaves college with $500k+ in the bank (outside of a trust fund kid, or famous influencer)? That's a tremendous leg up in life.
On top of that, the schools that are offering the most money also have great coaches. It's not like you have to sacrifice by taking the money.
|
Quote from Justin Hayes's post:
|
|
"Along the same lines, except you are a returning NCAA champion, what price (if any) would it take for you to enter the transfer portal?"
|
Hmmm... probably anything substantially greater than whatever my current NIL deal would be. You don't even really have to enter the portal, though... you could just pretend you're going to retire until a booster comes along with a big enough bag for you to end the charade.
|
|
|
|
|
Discussion Topic: Name Image Likeness $
Brian Mathews added to this discussion on May 2, 2024
|
|
Quote from Ben Golden's post:
|
|
"I imagine wrestling is not a "profitable" sport for OSU... and of course it would depend on how you're measuring.
Since all of their scholarships are endowed, you might say that doesn't count as a cost (or you could say that endowment interest could otherwise be used).
In a recent interview, Tom Ryan mentioned that they had about $500k in ticket sales last year. I doubt that fully covers wrestling's budget, but it probably covers a healthy fraction of it. Do they have other revenue streams associated with the wrestling program? I don't know."
|
No, it's not profitable per se. They've had a couple of years in the black here and there but that's entirely driven by operating contributions (i.e. donations) -- which is the largest revenue source for the program. Important to note that the wrestling team receives more contributions for operations than any other program (not including funds pledged to pay debt service--e.g. funds raised for Covelli/Jennings don't show up here).
FY23 wrestling had $1.6MM total operating revenue, $2.9MM expenses, $1.3MM operating loss.
On a nominal basis, this is middle of the pack in terms of men's programs at OSU. Tennis, soccer, lacrosse, track, baseball, swimming, hockey, all lose more. Also worth noting wrestling has the best % basis operating margin of any men's team, outside of football and basketball.
Football and basketball are the only profitable programs, which is not surprising and pretty standard for major public universities.
They did about $400k between tickets and concessions at Covelli in FY23.
|
|
|
|
|
Discussion Topic: Name Image Likeness $
Justin Hayes added to this discussion on May 2, 2024
|
If you're willing I'd like to read your perspective, Rex, as you are/were not in the hypothetical category?
|
|
|
|
|
Discussion Topic: Name Image Likeness $
Jack Muni added to this discussion on May 2, 2024
|
See, this is where I have a problem, the old argument {especially in pro sports} was that the players are bringing in the money and they deserve a big cut of the profits. Now in college athletics a lot of people feel the athletes also are bringing in large sums of money and deserve to be paid along with scholarships, but you are saying only football and basketball are showing a profit, so I can see where extra money would make sense, but all the other sports?? I don't see the same scenario.
|
|
|
|
|
Discussion Topic: Name Image Likeness $
Brian Mathews added to this discussion on May 3, 2024
|
|
Quote from Jack Muni's post:
|
|
"See, this is where I have a problem, the old argument {especially in pro sports} was that the players are bringing in the money and they deserve a big cut of the profits. Now in college athletics a lot of people feel the athletes also are bringing in large sums of money and deserve to be paid along with scholarships, but you are saying only football and basketball are showing a profit, so I can see where extra money would make sense, but all the other sports?? I don't see the same scenario."
|
I think what it boils down to is that you're worth what someone is willing to pay you.
For many decades the NCAA prevented its athletes from receiving any form of payment, strictly enforcing the "amateur" model. That has now been deemed by multiple courts to violate antitrust regulation.
They (the NCAA) are trying to find a path forward that preserves some level of order, but they're floundering as any proposal they put forward is met with more lawsuits--which they're losing. They were recently forced to stop all investigations into third parties and NIL collectives making payments to players.
Whether or not a program "makes money" doesn't really have anything to do with what an individual, collective, or company, is willing to pay an athlete.
|
|
|
|
|
Discussion Topic: Name Image Likeness $
Rex Holman added to this discussion on May 3, 2024
|
|
Quote from Justin Hayes's post:
|
|
"If you're willing I'd like to read your perspective, Rex, as you are/were not in the hypothetical category?"
|
Myself at 22 or 23 in the early 1990s and the culture of that day and today are two very different things. I use to think we are part of one big team and the sacrifice of self for the greater cause was a noble pursuit.
What I am saying is that whatever part of the story and narrative you are telling yourself will likely influence your decision.
Being a sport on the chopping block, not being valued by the university, working so hard that it is next to impossible to think critically about the situation, and just wanting to immerse yourself in wrestling is very different than social media likes, attention whoring and monetizing your NIL.
I would likely fall prey to the culture and want paid just like everyone else and think of myself as awesome before some great humbling.
Hindsight and now perspective with me at the helm. I would guide that 20-year-old self to an Olympic championship, UFC Championship and acting career.
|
|
|
|
|
Discussion Topic: Name Image Likeness $
Hank Kornblut added to this discussion on May 3, 2024
|
|
Quote from Rex Holman's post:
|
|
"
|
Quote from Justin Hayes's post:
|
|
"If you're willing I'd like to read your perspective, Rex, as you are/were not in the hypothetical category?"
|
Myself at 22 or 23 in the early 1990s and the culture of that day and today are two very different things. I use to think we are part of one big team and the sacrifice of self for the greater cause was a noble pursuit.
What I am saying is that whatever part of the story and narrative you are telling yourself will likely influence your decision.
Being a sport on the chopping block, not being valued by the university, working so hard that it is next to impossible to think critically about the situation, and just wanting to immerse yourself in wrestling is very different than social media likes, attention whoring and monetizing your NIL.
I would likely fall prey to the culture and want paid just like everyone else and think of myself as awesome before some great humbling.
Hindsight and now perspective with me at the helm. I would guide that 20-year-old self to an Olympic championship, UFC Championship and acting career."
|
I read this forum because we have a lot of smart guys offering perspective. This is true grist for the mill Rex. Thanks for being honest.
I recently met the wife of a recent Buckeye great and asked her if he'd thought at all about the money he'd have made today. She said he feels he'd have gotten several hundred thousand dollars. I agree.
|
|
|
|
|
|
|
|
|
|
