WEBVTT - EYL #6 Pay Us Like You Owe Us. 0:00:00.400 --> 0:00:04.280 You just realized your business needed to hire someone yesterday. 0:00:04.800 --> 0:00:09.000 How can you find amazing candidates fast? Easy? Just use 0:00:09.080 --> 0:00:12.360 Indeed stop struggling to get your job posts seen on 0:00:12.480 --> 0:00:16.360 other job sites. With Indeed sponsored jobs, your post jumps 0:00:16.400 --> 0:00:18.720 to the top of the page for your relevant candidates, 0:00:18.960 --> 0:00:22.000 so you can reach the people you want faster. According 0:00:22.040 --> 0:00:25.680 to Indeed data, sponsored jobs posted directly on Indeed have 0:00:25.800 --> 0:00:29.840 forty five percent more applications than non sponsored jobs. Don't 0:00:29.840 --> 0:00:33.519 wait any longer, speed up your hiring right now with Indeed, 0:00:33.960 --> 0:00:36.200 and listeners of this show will get a seventy five 0:00:36.280 --> 0:00:39.440 dollars sponsored job credit to get your jobs more visibility 0:00:39.600 --> 0:00:45.320 at indeed dot com slash pod Katz thirteen. Just go 0:00:45.360 --> 0:00:50.120 to Indeed dot com slash pod katz thirteen right now 0:00:50.479 --> 0:00:53.040 and support our show by saying you heard about Indeed 0:00:53.080 --> 0:00:57.400 on this podcast. Terms and conditions apply. Hiring Indeed is 0:00:57.440 --> 0:00:58.040 all you need. 0:01:19.400 --> 0:01:23.880 All right, guys, Welcome back, Welcome back, Earn your Lesion 0:01:23.959 --> 0:01:28.080 Podcast Episode six, Time Flies. This is our sixth edition. 0:01:29.360 --> 0:01:30.480 We got a lot to cover. 0:01:30.360 --> 0:01:32.800 This week, A lot going on, A lot going on in. 0:01:32.720 --> 0:01:36.080 Our world for sure, a lot going on. So first 0:01:36.120 --> 0:01:37.959 of all, before we start, we want to say thank 0:01:37.959 --> 0:01:40.000 you guys for rocking with us, thank you for your feedback, 0:01:40.040 --> 0:01:42.600 thank you for your DMS. Your message is very encouraging. 0:01:43.319 --> 0:01:47.160 Shout out to the UK, shout out to South Africa 0:01:47.880 --> 0:01:51.400 and all of our international listeners all over the world. 0:01:51.600 --> 0:01:54.520 That's always love when we get the international feedback because 0:01:54.520 --> 0:01:57.160 it's like, wow, the reach is so strong. It's like 0:01:58.200 --> 0:02:01.400 extremely humbling, and it's finding that not just here in 0:02:01.400 --> 0:02:03.640 the United States we're listening, but the message is being spread. 0:02:03.640 --> 0:02:04.120 So that's dope. 0:02:04.280 --> 0:02:06.800 That's dope. It's definitely dope for sure. So all right, 0:02:07.080 --> 0:02:09.480 we're gonna jump right into it with the number one 0:02:09.560 --> 0:02:15.079 sports topic of the Weekion Williamson and the Blue Devils. 0:02:15.200 --> 0:02:18.600 So for anybody that is not in tune of what's 0:02:18.639 --> 0:02:23.320 going on, Duke North Carolina big rivalry, probably one of 0:02:23.320 --> 0:02:25.800 the biggest rivalry in sports, not just not just college 0:02:25.840 --> 0:02:29.800 basketball sports period, right, So they had a game and 0:02:30.520 --> 0:02:32.880 that's like their rival. So they had a game and 0:02:33.320 --> 0:02:36.600 Zion being the star that he is right now and 0:02:36.639 --> 0:02:40.880 he is the phenom of college basketball. So the tickets 0:02:41.200 --> 0:02:45.840 were selling for I think ten up to ten thousand 0:02:45.880 --> 0:02:49.440 dollars on some sites, and five thousand and two thousands, 0:02:49.520 --> 0:02:53.280 so they were actually comparable to resale prices for Super 0:02:53.320 --> 0:02:53.800 Bowl tickets. 0:02:53.800 --> 0:02:56.760 According to vivid Seats, the prices, some of the price 0:02:56.880 --> 0:02:59.160 was actually higher than the lowest super Bowl ticket. 0:02:59.240 --> 0:03:02.480 Yeah, it's crazy. So the game comes and everybody's there, 0:03:02.520 --> 0:03:07.399 Spike Lee's there, David Robinson is there, President Obama's there. 0:03:07.720 --> 0:03:11.400 It's crazy, right, and then, in a freak accident the 0:03:11.440 --> 0:03:13.960 first play of the game, in the first thirty seconds, 0:03:14.280 --> 0:03:19.080 Zion literally blows his sneaker apart. I've never seen that 0:03:19.120 --> 0:03:22.119 in the game before. It blows a sneaker apart, and 0:03:22.560 --> 0:03:26.320 it's done. He's hurt, he's malone spring, So you know, 0:03:26.360 --> 0:03:28.400 we want to wish him, you know, speedy recovery. That 0:03:28.520 --> 0:03:30.800 was just a very weird and very unfortunate situation. But 0:03:31.800 --> 0:03:36.120 the whole conversation brought into a lot of different things 0:03:36.160 --> 0:03:39.000 that need to be talked about and need to be addressed. 0:03:39.480 --> 0:03:44.160 And really the number one thing is the revenue that 0:03:44.280 --> 0:03:47.440 college sports, in particular big time college basketball and big 0:03:47.480 --> 0:03:52.480 time college football brings in, and we need to look 0:03:52.480 --> 0:03:52.720 at that. 0:03:52.920 --> 0:03:55.760 Yeah, I mean, one of the things that immediately came 0:03:55.800 --> 0:03:58.760 to our attention was like, is it worth him playing again? 0:03:59.120 --> 0:04:01.760 Right? Because this guy is obviously going to be. 0:04:01.760 --> 0:04:04.920 The number one pick in the NBA Draft in the summer, 0:04:05.360 --> 0:04:09.160 and he's set to make millions of dollars from his 0:04:09.280 --> 0:04:12.040 NBA contract as well as any shoe deal or shoe 0:04:12.040 --> 0:04:16.560 company that signs him. And people are arguing, hey, this 0:04:16.680 --> 0:04:19.440 kid is a student. He should not be paid for 0:04:19.520 --> 0:04:19.920 his service. 0:04:20.080 --> 0:04:21.359 Yeah, so that's how people are saying that, do you 0:04:21.360 --> 0:04:23.320 know you're getting paid in a scholarship and all that, 0:04:23.400 --> 0:04:26.640 But I don't think people fully understand how complex the 0:04:26.720 --> 0:04:28.640 situation is. So that's what we do here. We try 0:04:28.680 --> 0:04:33.839 to make very complex situations easy to understand for everybody. 0:04:34.320 --> 0:04:36.520 So that's what we're going to do hopefully with this. Right, 0:04:36.600 --> 0:04:40.800 So we're look at March Madness, right, So March Madness. 0:04:41.240 --> 0:04:43.159 It's a fitting time since we're at the end of 0:04:43.200 --> 0:04:45.359 February and March Madness will be coming up in a 0:04:45.360 --> 0:04:47.839 few weeks. So March Madness is a three week basketball 0:04:47.880 --> 0:04:53.120 tournament for Division one basketball that determines the national champion. Right. 0:04:53.279 --> 0:04:57.560 Every year, you know, you fill out your brackets, you 0:04:57.920 --> 0:05:00.040 you you know, watch the games, you have the the 0:05:00.040 --> 0:05:03.280 buzzer beaters, you have the final four, it's the whole deal. Right. 0:05:03.360 --> 0:05:06.360 So the NC double A, Right, the NC double A 0:05:07.200 --> 0:05:11.159 is the governing body for college athletics. Right, So the 0:05:11.279 --> 0:05:16.320 NC double A their main source of revenue is March Madness. 0:05:16.880 --> 0:05:20.200 Right. And the March Madness, like you said, is almost 0:05:20.200 --> 0:05:23.560 a month of basketball games. Sixty four teams make it 0:05:23.600 --> 0:05:27.320 in obviously, just over thirty plus games every weekend. 0:05:27.920 --> 0:05:32.520 The field gets trindled down, but the money that is gross. 0:05:32.560 --> 0:05:35.320 Is no, no, no, it's crazy al right. So March 0:05:35.360 --> 0:05:38.680 madd twenty seventeen, three weeks of March Madness, the NC 0:05:38.800 --> 0:05:41.440 DOUBLEA made one billion dollars, right. 0:05:41.360 --> 0:05:44.839 Yeah, for the first time, record breaking, record. 0:05:44.680 --> 0:05:48.000 Breaking them out. That's how much revenue they made. The 0:05:48.120 --> 0:05:52.720 American Gambling Gaming Association says the number of brackets with 0:05:52.880 --> 0:05:57.200 his seventy million, I mean seventy million people will play brackets, 0:05:57.240 --> 0:06:02.039 office pools, gambling, friends, bars, whatever, right. Nine point two 0:06:02.720 --> 0:06:06.560 billion dollars is gambled on the tournament. Right, So the 0:06:06.640 --> 0:06:11.320 NC DOUBLEA makes one billion, nine billion is actually gambled 0:06:11.480 --> 0:06:16.279 on it. So that represents ninety percent. That one billion 0:06:16.320 --> 0:06:20.359 dollars represents ninety percent of the NC doublea's annual revenue. 0:06:20.839 --> 0:06:23.040 Did More and Buffett have a billion dollar contest. Yeah, 0:06:23.920 --> 0:06:25.960 per perfect brack of perfect bracket of billion dollars for 0:06:26.000 --> 0:06:26.440 the PERFCT back. 0:06:26.520 --> 0:06:29.279 So in twenty ten, the NC double A signs a 0:06:29.320 --> 0:06:33.880 fourteen year deal with CBS and Turner for ten billion 0:06:33.880 --> 0:06:37.159 dollars for March Madness. Right, so to cover the tournament, 0:06:37.160 --> 0:06:40.400 they have a TV deal for ten billion dollars. Then 0:06:40.839 --> 0:06:46.120 in twenty sixteen they have an extension for twenty thirty 0:06:46.120 --> 0:06:48.280 two for eight more billion. 0:06:48.520 --> 0:06:48.960 Yeah. 0:06:49.040 --> 0:06:51.040 So the first contract is supposed to run from twenty 0:06:51.160 --> 0:06:53.800 ten to twenty twenty four. They see how lucrative it is. 0:06:54.640 --> 0:06:57.640 By twenty sixteen, they're like, all right, let's reup. 0:06:57.720 --> 0:06:58.120 We're going to. 0:06:58.120 --> 0:07:00.760 Reup now so that we cant the rights to it. 0:07:00.800 --> 0:07:06.080 So CBS has a few channels and networks. Obviously TNT 0:07:06.360 --> 0:07:08.760 is Turn of Sports, and they have TBS and I 0:07:08.760 --> 0:07:10.640 think True TV. Those are the four networks that cover 0:07:11.280 --> 0:07:13.000 so you don't miss a game anymore. We used to 0:07:13.200 --> 0:07:15.520 it only was like channel. It was only CBS when 0:07:15.560 --> 0:07:17.640 we used to watch it, and then they were like, no, 0:07:17.680 --> 0:07:19.440 we got to cover all these games, so now you 0:07:19.480 --> 0:07:20.200 can't miss a game. 0:07:20.400 --> 0:07:23.280 So all right, So how the money is broken down 0:07:23.800 --> 0:07:27.480 is interesting and it's very complex, so I'll try to 0:07:27.480 --> 0:07:29.760 make it as easy to understand as possible. Ninety six 0:07:29.800 --> 0:07:34.760 percent of that billion dollars goes to members membership different colleges, right, 0:07:34.760 --> 0:07:37.880 And they break it down so each conference gets a piece, 0:07:37.960 --> 0:07:40.200 so they have two hundred and twenty million dollar pot 0:07:40.760 --> 0:07:44.000 from the NCAA tournament. Then they split it up amongst conferences. 0:07:44.240 --> 0:07:48.920 So each game that a team wins, their conference gets paid, right, 0:07:49.480 --> 0:07:52.400 and then the further they go in the tournament, the 0:07:52.520 --> 0:07:54.200 more money the conference gets paid. 0:07:54.360 --> 0:07:56.440 So example of a conference would be like the ACC 0:07:56.560 --> 0:07:59.400 or the Biggies Big twelve SEC. 0:07:59.760 --> 0:08:03.000 Those our conferences PAC twelve right exactly. 0:08:03.280 --> 0:08:07.000 So then from there it's up to the conference to 0:08:07.000 --> 0:08:10.720 break it down to the individual teams. So it's a 0:08:10.800 --> 0:08:13.440 hierarchy system. The nc DOUBLEA gets it, then they give 0:08:13.440 --> 0:08:16.200 it to the conferences, and then the conferences gives it 0:08:16.280 --> 0:08:19.600 to the teams, right, So it's like a three tier system. 0:08:20.400 --> 0:08:23.680 So but the problem is that when people say it's 0:08:23.680 --> 0:08:25.680 not as easy as just paying, so you look at 0:08:25.680 --> 0:08:27.400 it and you say, okay, this is making billion dollars. 0:08:27.440 --> 0:08:29.040 They have a ten billion dollar deal. How come the 0:08:29.040 --> 0:08:32.200 athletes aren't getting paid? Well, only one third of the 0:08:32.280 --> 0:08:35.400 teams are actually profitable, exactly right, So two thirds of 0:08:35.400 --> 0:08:38.120 the teams aren't actually profitable. So the one third of 0:08:38.160 --> 0:08:41.040 the teams that are profitable, they are paying for the 0:08:41.080 --> 0:08:43.440 two thirds of the teams that are not profitable. That's 0:08:43.520 --> 0:08:47.120 just basketball, but the NC Double A has a bunch 0:08:47.120 --> 0:08:51.280 of different sports. In almost every single sport except for basketball, 0:08:51.679 --> 0:08:56.040 is not profitable. So now you have pretty much a 0:08:56.080 --> 0:08:59.040 handful of teams right in the grand scheme of things 0:08:59.280 --> 0:09:02.600 that are funded every program. 0:09:02.280 --> 0:09:04.679 Right, So it's like the kid who plays golf or 0:09:05.920 --> 0:09:10.840 or the kid who plays lacrosse, baseball, field hockey. 0:09:11.120 --> 0:09:12.640 And then there's a thing called Title nine. 0:09:13.280 --> 0:09:13.439 Right. 0:09:13.480 --> 0:09:16.920 So Title nine came in years ago, and that made 0:09:16.960 --> 0:09:18.920 it where you have to have an equal amount of 0:09:19.000 --> 0:09:20.360 women teams as men teams. 0:09:20.880 --> 0:09:22.760 Whatever sports you're offering, you have to offer. 0:09:23.640 --> 0:09:26.880 So now that cut the budget even more, and now 0:09:27.679 --> 0:09:31.360 the big revenue sport is paying for not just every 0:09:31.840 --> 0:09:35.079 male but female sports as well. So it's a very 0:09:35.640 --> 0:09:40.520 diluted system that they're using the top tier money earners 0:09:40.559 --> 0:09:42.239 to pay for everybody. 0:09:42.480 --> 0:09:42.720 Right. 0:09:42.880 --> 0:09:47.520 So then it gets even more complex because that's the 0:09:47.640 --> 0:09:52.480 NC Double A is basketball where the real money is 0:09:52.520 --> 0:09:56.199 made is football. So the NC double A one football 0:09:56.600 --> 0:10:01.360 department is different from the NC Double A. So now 0:10:01.400 --> 0:10:02.559 we have to go into football. 0:10:02.600 --> 0:10:07.000 Yes, football is a huge generator of money because number one, 0:10:07.559 --> 0:10:09.760 it's simple math. Right, if you have eighty to one 0:10:09.840 --> 0:10:10.880 hundred thousand people. 0:10:10.720 --> 0:10:13.600 Coming to watch one sporting event and paying one hundred 0:10:13.640 --> 0:10:16.760 dollars per ticket, you're gonna gross way more than an 0:10:16.760 --> 0:10:18.640 arena that holds twenty thousand for basketball. 0:10:18.720 --> 0:10:18.840 Right. 0:10:18.960 --> 0:10:20.960 The only thing is like, yeah, basketball has more games. 0:10:21.240 --> 0:10:23.439 But if a team has eight home games and they 0:10:23.480 --> 0:10:25.839 sell out, which they do, like these big schools sell 0:10:25.880 --> 0:10:28.360 out every game and they're getting one hundred and ten 0:10:28.400 --> 0:10:31.719 thousand people to come in, it feels in comparison. 0:10:32.280 --> 0:10:34.920 No, it's different. So, okay, we had a we looked 0:10:34.960 --> 0:10:38.160 at Forbes list for twenty eighteen and the top five 0:10:38.240 --> 0:10:43.760 football teams their revenue. Right, so the top football team was, well, 0:10:43.960 --> 0:10:46.800 we'll start with number five. Number five was Ohio State. 0:10:47.280 --> 0:10:49.920 They had a revenue of one hundred and twenty million 0:10:50.320 --> 0:10:54.240 and they had profit of sixty nine million. Then we 0:10:54.280 --> 0:10:57.600 go to Alabama one hundred and twenty seven million revenue 0:10:57.600 --> 0:11:00.320 in fifty nine million profit. Michigan is number three, one 0:11:00.360 --> 0:11:03.880 hundred and twenty seven million, seventy five million profit. Texas 0:11:03.880 --> 0:11:07.480 Longhorns number two one hundred and thirty three million with 0:11:07.800 --> 0:11:10.040 eighty seven million dollars of profit and the number one 0:11:10.080 --> 0:11:13.160 team football team last year with Texas A and M 0:11:13.320 --> 0:11:15.320 with the revenue of one hundred and forty eight million 0:11:15.520 --> 0:11:17.920 with one hundred and seven million dollar profit. This is 0:11:17.960 --> 0:11:21.120 just football, yeah, And that's nothing doing any other sports football, 0:11:21.120 --> 0:11:21.640 That's what I'm saying. 0:11:21.640 --> 0:11:24.320 Like, that's just generating money for the school as well, 0:11:24.320 --> 0:11:26.280 like you said, and the one thing we know about 0:11:26.280 --> 0:11:28.880 Texas is football is king. Right, there's the reason why 0:11:29.840 --> 0:11:32.240 the Cowboys are the most profitable team in the NFL. 0:11:33.400 --> 0:11:35.720 So not only are they generating money, but we took 0:11:35.760 --> 0:11:37.640 a look at where the money is going. So when 0:11:37.640 --> 0:11:40.880 they argue, hey, athletes shouldn't be paid because they're going 0:11:40.920 --> 0:11:43.480 to school for free, well here's the breakdown. So those 0:11:43.559 --> 0:11:45.640 numbers that you just ran off, right, so we can 0:11:45.679 --> 0:11:48.200 talk about how much is going to scholarship. So from 0:11:48.240 --> 0:11:51.000 that money that was very generated from Ohio State, about 0:11:51.000 --> 0:11:52.160 twenty million that goes. 0:11:52.040 --> 0:11:54.600 To school to the school scholarships for all the sports. 0:11:55.400 --> 0:11:58.120 So they made one hundred and twenty million, right, twenty 0:11:58.200 --> 0:12:01.839 twenty million went to scholarship exactly. That means that we're done. 0:12:01.920 --> 0:12:03.640 Where the all the one hundred go, We're. 0:12:03.480 --> 0:12:07.120 Gonna get them. So number four, you say Alabama, they 0:12:07.160 --> 0:12:09.640 spend seventeen million in scholarships. Okay. 0:12:09.679 --> 0:12:13.439 Then number three Michigan we have twenty five million in scholarships. 0:12:13.720 --> 0:12:16.760 Number two Texas they have thirteen million of scholarships. And 0:12:16.760 --> 0:12:19.840 then number one Texas A and M ten million of scholarships. 0:12:19.880 --> 0:12:21.520 And the reason Texas A and M is number one 0:12:21.520 --> 0:12:23.560 this year is because a lot of people don't know. 0:12:23.559 --> 0:12:26.480 It's like they have a large amount of boosters that 0:12:26.520 --> 0:12:28.880 donate money to the program. So that money just gets 0:12:29.120 --> 0:12:32.240 put into a pile of revenue because we're giving it 0:12:32.240 --> 0:12:35.520 to the university to help improve conditions. Number one thing 0:12:35.720 --> 0:12:37.480 they want is they want their football team to win. 0:12:38.040 --> 0:12:39.880 That's it, like that eblily, that comes down to, we 0:12:39.880 --> 0:12:43.240 want our football team to win. We'll pay money, will 0:12:43.320 --> 0:12:47.080 hire national championship coaches from other schools just so that 0:12:47.120 --> 0:12:47.559 we can win. 0:12:47.679 --> 0:12:50.240 The Texas Longhorns has their own network. 0:12:50.840 --> 0:12:53.280 So that's crazy. Like that is in itself. 0:12:53.280 --> 0:12:56.080 They are like not to cut you off. But the 0:12:56.160 --> 0:13:00.160 conversation of this is a conversation that literally can take 0:13:00.200 --> 0:13:03.240 an hour, right because, like I said, there's so many 0:13:03.280 --> 0:13:06.439 different levels involved with how much money is being generated. 0:13:06.520 --> 0:13:10.840 You have Bowl games, you have TV contracts, you have 0:13:11.200 --> 0:13:13.160 the Big Twelve that they have the Big twelve network. 0:13:13.840 --> 0:13:17.439 Texas is in the Big twelve conference. Yes, yes, they're 0:13:17.440 --> 0:13:19.480 in the Big twelve. Big twelve has its own network, 0:13:20.160 --> 0:13:22.600 but the Texas long on have their own network. 0:13:22.600 --> 0:13:25.000 They have their own completely separate of the Big Twelve. 0:13:25.000 --> 0:13:26.880 And we get that here in New York. Like before 0:13:27.360 --> 0:13:32.280 the Big East, before acc SEC had their own channels. Texas, 0:13:32.520 --> 0:13:35.360 the school, the University of Texas had its own channel, 0:13:35.679 --> 0:13:37.080 and they still have their own channel. It shows you 0:13:37.120 --> 0:13:40.160 nothing but Texas and exclusive access. Really, what they want 0:13:40.160 --> 0:13:40.920 to see is football. 0:13:41.880 --> 0:13:44.120 No, it's different, it's different. And then can we just 0:13:44.200 --> 0:13:45.880 go because we don't want to stay on this topic 0:13:45.880 --> 0:13:48.520 for too long, but it's such it's so crazy, right, 0:13:48.600 --> 0:13:50.959 So we have to talk about the coaches how much 0:13:50.960 --> 0:13:51.600 money they made? 0:13:51.679 --> 0:13:53.720 Right? So the coaches are the guys who bring the 0:13:53.760 --> 0:13:57.000 recruits to the school and they make money. They make 0:13:57.120 --> 0:13:59.720 money from their own contracts and they get endorsed. 0:13:59.760 --> 0:14:01.520 So the top four, how much did the top football 0:14:01.520 --> 0:14:02.120 coach made. 0:14:02.600 --> 0:14:05.160 Nick Saban, So, I mean he's one of the greatest 0:14:05.200 --> 0:14:05.800 coaches all time. 0:14:05.840 --> 0:14:09.080 Eight point three million University of Alabama. Nick Saban made 0:14:09.120 --> 0:14:11.680 eight point three million. How much did the top basketball 0:14:11.720 --> 0:14:12.080 coach make? 0:14:12.360 --> 0:14:15.000 So, coach k made eight points so nine million dollars 0:14:15.040 --> 0:14:16.040 last year in salary. 0:14:16.480 --> 0:14:19.240 That's the Duke coach. Ironically enough, we're talking about Zion 0:14:19.440 --> 0:14:24.760 in private school too. So Duke, yes, private school and 0:14:24.800 --> 0:14:27.680 the coach makes nine million dollars a year. All right, 0:14:28.080 --> 0:14:29.800 we won't even go through the list of coaches because 0:14:29.800 --> 0:14:33.960 there's that's crazy. Then we got endorsement deals. That's another 0:14:34.000 --> 0:14:36.240 avenue that they make money. Right, So the number one 0:14:36.360 --> 0:14:41.040 endorsement deal team is UCLA. They get twelve million dollars 0:14:41.080 --> 0:14:44.680 from under Armour. Right, you have Louisville gets ten million. 0:14:44.800 --> 0:14:50.800 Texas they get nine million. So now you have ten 0:14:50.840 --> 0:14:54.360 million dollar, twelve million, nine million dollar endorsement deals in 0:14:54.480 --> 0:14:57.160 top of on top of TV, on top of merch. 0:14:57.520 --> 0:15:02.400 But so gotta go to want more category stadiums, right, 0:15:02.880 --> 0:15:05.560 So the largest how much how many people do you 0:15:05.560 --> 0:15:09.040 think the largest football stadium college college stadium polls? 0:15:09.280 --> 0:15:11.520 I mean, I'm gonna say one hundred and twelve. 0:15:11.280 --> 0:15:16.840 Thousand, one hundred and nine thousand, Michigan and Arbor Michigan University. 0:15:16.840 --> 0:15:20.000 The football stadium holes one hundred and nine thousand. They 0:15:20.040 --> 0:15:23.480 sell out every game, every single game. How much money 0:15:23.520 --> 0:15:25.000 you think they're making off of that? They have one 0:15:25.080 --> 0:15:28.640 hundred and nine that's a that's a town, one hundred 0:15:28.680 --> 0:15:31.080 and nine thousand people fitting the football. That's more than 0:15:31.280 --> 0:15:32.160 NFL stadiums. 0:15:32.160 --> 0:15:37.760 Hole, there's plenty that don't hold on arena and so like. 0:15:37.840 --> 0:15:40.360 From that, So that that money that they generate those 0:15:40.360 --> 0:15:43.640 schools from the football, right, some of those that other 0:15:43.680 --> 0:15:44.640 there's an other category. 0:15:44.680 --> 0:15:47.480 So yeah, the scholarships are one. The coaching and staffing 0:15:47.840 --> 0:15:49.560 is a budget, and then they have the other budget. 0:15:49.560 --> 0:15:51.960 So and the others that could be for facilities, so 0:15:52.400 --> 0:15:56.880 they add wings to a stadium, or they add a 0:15:56.920 --> 0:15:58.760 new training facility at a university. 0:15:58.800 --> 0:16:00.240 But you know what the best part about this whole 0:16:00.240 --> 0:16:04.520 situation is n C double A is a nonprofit organization. 0:16:05.240 --> 0:16:06.800 Soot that applot twist. 0:16:08.280 --> 0:16:11.120 That's the that's the craziest part. All of this money 0:16:11.120 --> 0:16:13.840 that generated the n C double A is a nonprofit organization. 0:16:13.920 --> 0:16:17.640 That's a different conversation. Man, Now we have to go 0:16:17.720 --> 0:16:18.960 into a personal story. 0:16:18.720 --> 0:16:21.160 But personal you know what, I'm gonna start the personal 0:16:21.240 --> 0:16:23.600 story because I remember, like I was big on video 0:16:23.640 --> 0:16:27.000 games and in the early two thousands, Uh, they had 0:16:27.000 --> 0:16:31.080 this game called March Madness and at that same time you. 0:16:31.000 --> 0:16:34.160 Were in school. Yeah, I'll never forget that conversation. Yeah, 0:16:34.160 --> 0:16:35.560 I'm playing March Madness. 0:16:35.640 --> 0:16:41.920 So prior to my career business, I. 0:16:40.800 --> 0:16:43.080 Was a basketball player that was in basketball. 0:16:43.120 --> 0:16:46.760 Little known fact. I was a Division one basketball player, right, 0:16:46.880 --> 0:16:49.520 So I played D one for two years. So yes, 0:16:49.760 --> 0:16:53.440 the EA Sports, Yes, EA Sports, which is if anybody's 0:16:53.440 --> 0:16:57.480 familiar with sports, EA Sports is video games. That's they 0:16:57.520 --> 0:16:58.080 made Madden. 0:16:58.200 --> 0:17:00.240 They made well NBA a lot used to be thing, 0:17:00.240 --> 0:17:03.080 not so much anymore, but Madden is their top game 0:17:03.160 --> 0:17:03.440 right now. 0:17:03.480 --> 0:17:05.720 So they had so EA Sports used to have video 0:17:05.760 --> 0:17:09.080 games for college football on college basketball yep, Division one 0:17:09.119 --> 0:17:12.320 college football and Division one college basketball, and they had 0:17:12.359 --> 0:17:15.680 every Division one school and they had the player's likeness. 0:17:15.680 --> 0:17:17.080 They they had their name, but they had their likeness. 0:17:17.119 --> 0:17:18.920 They couldn't say your name, but they put your number 0:17:19.080 --> 0:17:21.720 and like your attribute. So if you were a good shooter, 0:17:21.840 --> 0:17:24.120 then your rating was like an eighty or above. Right, 0:17:24.359 --> 0:17:26.480 So when was that like two thousand and When was 0:17:26.520 --> 0:17:28.600 I in college, I think two thousand and six something 0:17:28.640 --> 0:17:31.520 like that. I don't know around that time, mid two thousands. 0:17:31.760 --> 0:17:35.080 So yes, when I was in college, University of Maryland, 0:17:35.080 --> 0:17:39.000 Baltimore County D one school number fifteen, I was number fifteen, 0:17:39.440 --> 0:17:41.560 I was using you in the game, and yeah, he 0:17:41.640 --> 0:17:43.919 was playing with me. It was like it was crazy 0:17:43.960 --> 0:17:46.240 because we used to so we were just happy, you know, 0:17:46.400 --> 0:17:49.080 being in college. I never was a really good well, 0:17:49.080 --> 0:17:51.159 I never really was a really good video game player. 0:17:51.200 --> 0:17:52.840 I wasn't in the video games, but my friends was, 0:17:52.920 --> 0:17:55.359 my teammates were, so we would go and we played 0:17:55.440 --> 0:17:57.959 video games. But it was just cool to see somebody 0:17:57.960 --> 0:17:59.960 that it was made in your likeness, Like it looked 0:18:00.080 --> 0:18:02.159 like me right like, so I'm like, that's kind of crazy, 0:18:02.240 --> 0:18:04.640 like to have somebody in my likeness on a video game. 0:18:04.680 --> 0:18:06.560 We wasn't thinking that they was using us and we 0:18:06.560 --> 0:18:11.080 wasn't getting paid. So what somebody did right at Obannon, 0:18:11.160 --> 0:18:14.679 that's a different story. Shout shout out at Obannon. 0:18:14.760 --> 0:18:17.199 So they have people who only know at Obannon for this. 0:18:17.320 --> 0:18:18.920 But this guy was like the national player. 0:18:20.040 --> 0:18:22.719 If you don't know who Ed O'Bannon is do your research. 0:18:22.920 --> 0:18:27.520 Nineteen ninety five UCLA National Champ, Player of the years, legend, 0:18:27.640 --> 0:18:28.119 legend that. 0:18:28.320 --> 0:18:30.320 But then he changes so he changed the game completely 0:18:30.320 --> 0:18:33.880 because he realizes that EA Sports. So we talked about 0:18:33.920 --> 0:18:38.040 all these other revenue sources, right, video games, billion dollar industry. 0:18:38.200 --> 0:18:42.520 EA Sports making million dollars a year, and the colleges 0:18:42.520 --> 0:18:44.320 are getting paid off of that as well because they 0:18:44.320 --> 0:18:46.919 have to license their name to use them in the 0:18:47.000 --> 0:18:49.520 video games. So the colleges are getting paid millions in 0:18:49.560 --> 0:18:51.720 EA Sports are getting paid millions from video games, but 0:18:51.760 --> 0:18:54.800 the kids wasn't getting any money. So they have a 0:18:54.840 --> 0:19:00.359 class action lawsuit and they won. So what happen is 0:19:00.400 --> 0:19:03.760 that anybody that played Division I sports football or basketball, 0:19:03.800 --> 0:19:05.359 I think like from a ten year period that was 0:19:05.359 --> 0:19:07.760 featured in that video game was part of that class 0:19:07.800 --> 0:19:10.760 action lawsuit. And lo and behold, I was part of 0:19:10.800 --> 0:19:13.960 that class action lawsuit. So they cut me a check. 0:19:14.040 --> 0:19:16.399 They cut me a check. So around like probably like 0:19:16.400 --> 0:19:19.120 three years ago, four years ago, I get a check 0:19:19.720 --> 0:19:21.040 for like eighteen hundred dollars. 0:19:22.280 --> 0:19:23.440 Look at that, it wasn't. 0:19:23.280 --> 0:19:27.120 Bad, but it just goes to show you that there's 0:19:27.200 --> 0:19:31.879 so many different ways how colleges are making money a lot. 0:19:32.359 --> 0:19:36.760 So I know there's an argument that students are getting 0:19:36.760 --> 0:19:40.440 scholarships and that's payment, and it look, it is valuable 0:19:40.480 --> 0:19:42.520 because I was I was on a scholarship. I didn't 0:19:42.520 --> 0:19:45.280 have to pay for college. I appreciated my college experience. 0:19:46.119 --> 0:19:51.000 But but we can't act like a nonprofit organization that 0:19:51.040 --> 0:19:55.760 makes billion dollars a year in schools that are making 0:19:55.840 --> 0:20:01.919 billions and millions of dollars off of two sports. We 0:20:02.040 --> 0:20:05.320 have to find a way to fairly compensate the players, 0:20:05.440 --> 0:20:07.520 or if we're not going to compensate them, then we 0:20:07.600 --> 0:20:11.399 at least have to let them go into professional sports 0:20:11.400 --> 0:20:14.040 out of high school if they choose to, and not 0:20:14.200 --> 0:20:16.440 make them go to college. Like you can't make somebody 0:20:16.480 --> 0:20:19.080 go to college and then not pay them. 0:20:19.240 --> 0:20:21.959 It's the only thing amateur about this is that they 0:20:21.960 --> 0:20:25.359 don't get paid. They saying, oh, it's an amateur it's really 0:20:25.600 --> 0:20:29.480 a fum system. It's like the minor leagues because in 0:20:30.280 --> 0:20:32.720 football you can't it's a free trial. Yeah, you can't 0:20:32.720 --> 0:20:35.520 go unless you do three years. In NBA and they're 0:20:35.560 --> 0:20:36.960 trying to change that now you have to go for 0:20:37.080 --> 0:20:38.160 at least one year. 0:20:38.240 --> 0:20:39.000