Good morning, and thanks for spending part of your day with Extra Points.
It's been a heck of a week, huh? As of today, college athletes across the country can now begin to monetize their name, image and likeness. I've long argued on this newsletter that this will be a net positive development for everybody, not just the athletes, but athletes will certainly capture a lot of those benefits. The activists, athletes, lawmakers and others who fought for this outcome should feel proud.
Earlier this week, I indicated that I actually want to pay some college athletes to endorse and promote Extra Points. I believe that if the content I provide has value for college sports fans, administrators and leaders, it could have value for other students, particularly athletes. I figured that reaching out to current athletes would be an effective way for me to reach those audiences. Plus, by actually participating in this marketplace, I'd learn more about the barriers that athletes, brands and schools may be facing as everybody tries to figure this industry out all at once.
I've talked to several athletes over the last few days, and hope to talk to many more over the coming days and weeks. I plan to share a more detailed report on this process with my readers later in July, but for now, I'm happy to announce the first Extra Points ambassador. We've reached an agreement with Parker Ball, an offensive lineman at the University of Tennessee. Parker seems like an Extra Points kind of guy...a recruit that decided to walk-on at Tennessee after picking up some FCS interest, and a player who does the dirty work. Offensive linemen are the Extra Points of college football, in my humble opinion.
Parker will share a special Extra Points discount code with his fans over the coming days on his social media platforms. I also have an agreement in principle with another football player who is just waiting on everything to clear compliance, and hope to announce agreements with other athletes in the near future, particularly women athletes.
If you're an athlete, and you're reading this, by all means, feel free to reach out to me at Matt@ExtraPointsMB.com, @MattBrownEP on Twitter, @ExtraPointsMB on Instagram (we're on Instagram now too, BTW), or on OpenDorse.
In other Extra Points related news, one of the developments I'm most proud of is the Extra Points FOIA Directory. This database, which I update several times a week, is a free, one-stop-shop for all sorts of financial data on athletic departments, coaches, contracts and more. Recently, I've taken to adding football game contracts, coaching contracts, and breakdowns of how athletic departments have allocated federal funding from CARES and HEERF.
This is useful and important data, but it can be intimidating. Athletic departments don't produce a simple profit and loss statement or any document that looks like what we might use to balance our household budgets. Financial reports and contracts can be challenging for non-CPAs to parse through.
Luckily, we know a CPA. In the latest episode of Going For Two, Bryan and I chat with our friend, Katie Davis, a CPA at James Moore. Katie specializes in athletic department finances, and knows her way around an FRS report better than almost anybody I know. In this episode, we talk about stuff like:
- What did schools get in federal bills like CARES and HEERF, and how might that money have been used for college sports?
- What can a regular ol' person actually learn from the FRS reports we have in the database?
- Why might an athletic department decide to borrow money from the school, or from the conference, or from somewhere else?
- Why most schools didn't experience as much of a financial catastrophe after COVID-19 as we all projected last year?
- What sorts of tax changes have impacted college athletic departments?
- Is anybody stashing their money in crypto?!?
And more. I promise, this is a conversation that's accessible, and you'll learn a lot about how budgets actually operate. If nothing else, you won't repeat the "but only two dozen departments are profitable!!!" line after listening. James Moore also has a bunch of related articles to help demystify college athletic finances.
You can subscribe to Going For Two absolutely free, and download it anywhere you get your podcasts, including Apple and Spotify.
Also, if the podcast looks a little different, it's because we have some cool news. We've moved Going For Two to the Learfield IMG College family of podcasts. These are the folks who help produce and sell podcasts like the Shutdown Fullcast, Split Zone Duo, The Solid Verbal, and Hand In The Dirt. Over time, we think this partnership will help grow our audience and produce a better product for you.
Thanks for listening!
This edition of the Extra Points newsletter is supposed by MarketPryce.
Starting July 1st, college athletes across the country can finally make money from their name, image & likeness.
But, now that they can make money from endorsement deals, the question is, “How will they find companies to work?” That's where MarketPryce comes in.
MarketPryce is a two-sided marketplace that is already empowering professional athletes to connect with brands to close marketing deals. They’ve already seen 1,000 deals flow through their platform since their launch earlier this year.
MarketPryce is not only accessible to pro athletes -- they plan to make a “Student Athlete” membership available for athletes, starting today, on July 1st. MarketPryce provides a safe marketplace which empowers student athletes to connect directly with vetted companies (both local + national) who are looking for athlete ambassadors.
Click here to learn more about MarketPryce!
Today's newsletter is also sponsored by The Daily Upside.
The Daily Upside is a business newsletter that covers the most important stories in business in a style that’s engaging, insightful, and fun. Since most investment news sources are full of inaccessible jargon and fluff, it's great to have resources like the Daily Upside that strip away the clutter, and give you the information you need, how you need it.
You can subscribe, completely for free, right here. Please note, this is an advertisement, and Extra Points does earn a commission if you sign up for this free newsletter.
To get the full Extra Points experience, please consider subscribing. Paid Extra Points subscribers get four newsletters a week, plus access to our special subscribers-Discord server. You can upgrade your subscription right here, for just $8/mo, or $75 for the entire year.
For questions about buying ad space in future newsletters, drop me a line at firstname.lastname@example.org. For article ideas, NIL inquiries, story feedback and more, I'm at Matt@ExtraPointsMB.com or @MattBrownEP on Twitter.