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March Madness – Should College Athletes Get Paid?
The NCAA Basketball March Madness tournament is now in full swing. The game is full of upsets, fans young and old are cheering for their team, bracket challenges are everywhere. America loves this race.
The NCAA, colleges and universities, college coaches and television stations and advertisers are also interested in the tournament. The tournament is a great money maker for all parties. In 2010, the NCAA signed a 14-year media rights agreement with CBS Sports and Turner Broadcasting for $10.8 billion. For 2012-13, the NCAA’s revenue is expected to reach $797 million, $702 million from the Association’s new franchise agreement with CBS Sports and Turner Broadcasting and another $95 million from ticket sales and merchandise.
According to the NCAA, college athletic programs are the largest revenue generators for colleges. Ticket sales, television, radio, alumni donations, salaries and NCAA divisions, combined bring in more than $6.1 billion annually for colleges. This is a huge investment for the school. It is a wonderful marketing tool for colleges.
The opportunity to bring more money to participating universities and successful programs pushes colleges to hire the best coaches to build successful athletic programs. Winning means national exposure, which brings in more money and is a major marketing campaign for colleges. Unlike paying for national publicity, colleges are paid for greater national exposure.
Therefore, finding a coach who can bring a successful college program is very important. Many schools are now offering coaches salaries in the millions to attract the best. These billion-dollar scholarships are small investments that can pay off big bucks for successful college programs.
With all this money being made by colleges, TV stations, retailers, advertisers, and coaches, many college players have asked, “Where’s my cut?” After all, the players are the biggest draw in the sport, so to speak.
Many college athletes believe they should receive compensation for the services they play. This was demonstrated years ago by the “Fab Five” at the University of Michigan. The entire starting lineup consisted of freshmen, and they were able to lead Michigan to the Championship game in their freshman year.
An almost legendary group of young athletes became a national sensation. Products that include the Fab Five, TV, radio, print, college, etc. These five new men, who were the Fab Five, did not receive any money from their fame. Does that seem like a good thing when most of them were poor kids with families who couldn’t afford to eat?
Is it true that there are no Division I college players who share in the huge amount of money that many other people make from their professional sports?
Although the ability to use TV for these young athletes is a problem that needs to be solved, I think that the system as it is now is the right one. Colleges recruit boys and girls to play on their campuses that provide them with athletic training.
The reason we have colleges and universities is to educate our youth. Colleges hope to make the most of their future finances, by offering college players a 4-year college scholarship. Also, their courses are free.
While many others, again, TV stations, radio stations, colleges, universities, coaches, etc., are making a lot of money from high school sports, athletes receive nothing in addition to their athletic training. That is their salary and I don’t think students want anything else. The system is not perfect, but it works. I don’t see any change anytime soon. Enjoy the rest of the March Madness showdown from our young college athletes who we hope will earn great scholarships and go on to great careers.
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