The Best Way to Pay College Athletes
You can’t watch the Final Four without thinking about and debating the issue of The Best Way to Pay College Athletes.
Many people agree that college athletes should be compensated. Few people can agree on the best way to do it. Should all athletes be compensated? And by what formula? What about the traditionalists who view a free college education as an incredibly valuable form of compensation already? These are all legitimate and challenging questions.
The Fab Five Problem: Many college basketball fans realized the current system was unfair when hearing the story of Michigan’s Fab Five. Jalen Rose, the team’s star, couldn’t even afford to buy his own jersey. Yet, his school, the University of a Michigan, was making millions from his success.
A new system would alleviate this unfortunate situation without upending the entire scholarship system. Sports has merged into entertainment. It is a logical extension to compensate college athletes not as athletes, but as entertainers.
The best way to compensate college athletes is to pay them for their value from television appearances. Entertainers who belong to the Screen Actors Guild are compensated this way. This would be in the form of extra compensation for those appearing on regional or national TV broadcasts.
Yes, most of the recipients would come from high profile sports like basketball and football. But let’s be honest, those are the sports creating the most economic value for the schools from their TV contracts.
I envision something along the lines of $15,000- $20,000 per nationally televised game and a lesser amount for a regionally televised game. There would be larger incentives for reaching milestones like the Final Four and Bowl games. This would be extra compensation in addition to receiving a scholarship. For the average student athlete, no change would be needed.
Will this system fully compensate these athletes? No, it won’t. It will fill the gap for a few athletes who are creating extraordinary value for their universities. The only way for an athlete to receive full compensation as an athlete is to get an agent and go pro.
A few high profile sports generate the majority of the revenues at major Universities. Ending the student scholarship system could leave athletes in less lucrative sports with no scholarship and a low paying “job” as an athlete. Ending the current scholarship system would force the NCAA to decide, “how much compensation does an athlete in a low revenue sport deserve?” Attempting to pay all amateur athletes presents a no-win situation for the NCAA.
By compensating only those athletes that appear on television, the athletes who are generating the most revenue and creating the most value for the University and it’s brand, would be given a “bonus” payment. The scholarship system should remain intact.
College athletes deserve to receive bonus income for creating economic value at a high level. A change in the current system can be accomplished without destroying the current student-athlete system. Rewarding a few exceptional athletes is much easier than trying to place a value on every college athlete in every sport.