In this Podcast, recorded 05/18/22, Alembic CEO Co-Founder Tomas Puig and ex-CNBC reporter Eric Chemi discuss the business of the NBA draft and athletic endorsement. NIL or Name, Image, Likeness is the game.
In this transcript, the speaker is discussing the topic of name, image, and likeness in college sports, specifically in relation to the recent NFL and NBA drafts. They mention that many college players are now making significant money, and that there may be more money to be made in college than in the pros for some players, particularly for players on worse teams in smaller markets. They argue that the real benefit of name, image, and likeness will not be for the top draft picks, as their signing bonuses will be so large that the additional money from name, image, and likeness will be insignificant, but for Olympic athletes and female athletes in sports where there is not a professional league to go to after college. They also mention that the rules for Olympic endorsements have changed to allow college athletes to monetize their Olympic careers, which will be beneficial for many athletes who were previously unable to do so. They also highlight the fact that the rules regarding amateurism and professionalism in sports have changed over time, with college athletes becoming more professional and Olympic athletes becoming more amateur in the past.
