As a student at the University of Connecticut, Paij Pueckers has quickly sparked her university salary so much that she turned into her mother to obtain financial support.
All her money spends on clothes and food, she had to borrow her mother’s credit card to buy gas and other necessities.
“So she was not really happy with that,” I told the seeds, and he is now the Wnba star, luck. “Then (name, image, and proverb) came to its place, then my mom returned credit card.”
Filming of draft No. 1 in WNBA No. 1 and winner of the NCAA National Championship with Uconn Huskies – a height in the meteor. The 23 -year -old was among the first batch of university athletes who benefit from NCA backed by the Supreme Court Policy change Allow athlete students to take advantage of the name, image and proverb deals (NIL).
After months of implementing the 2021 policy, extravagance She signed her first deal, nothingMulti -year partnership with Apparel and Sneaker Marketplace Stockx. Her second deal signed with Gatorade in the same month, and she became The first athlete in the college To sign the brand. After the 2024-2025 NCAA season, the clear value of Bueckers was About $ 1.5 million Thanks to deals, nothing.
Now a 23 -year -old rising at WNBA, the financial transition was amazing; Five years ago, the seed did not have a bank account.
She said, “It happened very quickly, and I was not ready for that.” “Building your wealth in college and starting to understand financial affairs really something I did not really know, so I had to know it.”
Bueckers now earns a regular salary, although it diminishes compared to its support deals. In April, Pueckers signed a upscale contract worth $ 348,198 with Dallas Wings, and they received $ 78,831 in its first year, according to the collective negotiation agreement in the league.
In the same month, extravagance A three -year deal signed To compete in the 3-one-3 basketball league, it was postponed by the veterans of WNBA NAPHESA Collier and Breanna Stewart. The average salary of the league is more than $ 220,000, which is the maximum basis for WNBA.
Financial literacy in the NIL era
The introduction to Boker who open the eye for personal finance is an experience by a joint fire with many young athletes, some of whom suffer from a rise to success only to see their wealth escape when their work period ends as professional athletes.
About 60 % of the American Professional League stars are broken within five years of retirement, Sports photographer I mentioned In 2009. 2015 Ticket From the National Office for Economic Research, it was found that 15.7 % of the American Football Association players had applied for bankruptcy after 12 years of retirement.
This was not lost on services, who learned the difficult way about creating savings accounts and investment portfolios.
“It can disappear at any moment,” she said. “This is something I still learn.”
Now you are trying to spread the word. On Tuesday, the seeds were announced Partnership with Intuit Higher EducationIt is a program that links the business software company with higher education institutions to provide college students and graduate studies with financial and balanced literacy tools-including tax education that focuses on Nil for student athletes.
Michael Ruwaida, President of the United States Sports and Entertainment at the Lawyer Wimders, said that the era of NIL had changed how young athletes deal with financial literacy. Since the rule of the teacher 2021, and 2.3 billion dollars industry, nothing I expanded to allow athletes Negotiate with deals before registration In the school that is now Allowing the athletes directly. As of this month, for the University of California, Los Angeles is already Athletes paid $ 4.8 million Under the new rules.
“There is an opportunity to be at risk by suddenly earning all this money when you are 18.19 and 20 years old.” luck.
Rieda said that schools are still playing with knees on the advanced set of policies surrounding Nil, but there is also an increasing infrastructure to support sports students to help harvest the potential benefits of these deals. Athletes can reach agents and lawyers in addition to the required training from schools, which want to obtain successful athletes that reflect the success of their programs.
Although NIL policies may constantly turn, the efforts made to improve financial literacy for athletes are increasing over the past decade as a result of Record destruction contracts And simply more money flowing on professional sport, according to Mollylli Claude, Financial Adviser and Sports and Entertainment Director Morgan Stanley. Younger athletes may earn more money, but there are emerging handles in a place that affects how to spend it.
She said: “As far as NIL is still a kind of wild West, there has begun to form some guidelines and goals of goals about what is more logical for the benefit of children.”
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