Each year, March Madness is the NCAA’s biggest event from a revenue standpoint.
It brings in more than $900 million annually, as CBS reported in 2015, with about $770 million of it coming from the 14-year $10.8 billion deal the organization signed with CBS for the tournament’s broadcasting rights back in 2006. Although it brings in this massive revenue for the NCAA, players are not only unable to earn a lucrative salary — although scholarships can also cover food and housing with small stipends — or any revenue sharing from their success, but they are unable to profit from their likeness.
There is an interesting case to be made for paying elite NCAA athletes, but here is what is even more clear: They should at least be able to profit from their likeness. Restrictions the NCAA has put on that are completely absurd.
For many of the athletes competing in the Final Four this weekend, this will be the peak of their athletic careers. Most of them will not make it to the NBA. But they will be playing in what will be the biggest sporting event in the country this weekend. It’s one where fans are oftentimes spending north of $1,000 for tickets, according to ticketiQ. If the interest is there, fans are willing to spend money, and the NCAA is making plenty of it, mostly because of the labor of elite basketball players. Preventing the players from earning money on their own time is ridiculous.
Think about it: These players could be earning money for public appearances leading up to March Madness and further promoting the NCAA. If they were allowed to, star players could pocket thousands of dollars by doing an autograph-signing/meet-and-greet session while connecting with fans. They could sell their own merchandise to promote their brand and, indirectly, their school as well. They could land endorsement deals, especially if they are NBA prospects. Or they could even livestream online and take money or sponsorships while answering questions from fans.
None of this is currently allowed. In fact, the NCAA even suspended Heisman Trophy-winning quarterback Johnny Manziel for the first half of his team’s opener in 2013 because he allegedly took money to sign autographs, although the NCAA later acknowledged there was no evidence of it. As Reason magazine points out, NCAA athletes are not even allowed to work a part-time job during their sports season.
For players to profit from their likeness, according to the Hill, “the definition of a qualified amateur sports organization in the tax code” would need to be amended. Last month, Rep. Mark Walker, R-N.C., proposed the Student-Athlete Equity Act to do it. Current NCAA rules state that scholarship athletes cannot take outside payment.
Under the guise of free market capitalism, Walker disagrees with the current system, and he’s 100% correct. If these players have earnings potential, government or a billion-dollar organization should not be suppressing it.
The prospect of NCAA athletes earning money is one with bipartisan support. Sen. Chris Murphy, D-Conn., and 2020 Democratic presidential hopeful Andrew Yang have expressed support for compensating players. Rep. Cedric Richmond, D-La., is the lead co-sponsor on Walker’s bill.
Perhaps a time will come where both sides will come together to help these athletes make a living. It’s not like anyone is trying to take away NCAA President Mark Emmert’s $2.4 million annual salary. They just want players to have the opportunity to take care of themselves financially.
Tom Joyce (@TomJoyceSports) is a freelance writer who has been published with USA Today, the Boston Globe, Newsday, ESPN, the Detroit Free Press, the Pittsburgh Post-Gazette, the Federalist, and a number of other media outlets.
