Andre Drummond - Loan | The Boneyard

Andre Drummond - Loan

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This from the Courant today -- "One year of tuition at UConn for an in-state resident — Drummond is from Middletown — is roughly $21,000, and it is not known how the Drummonds are paying it, but under the rules they are getting no aid from UConn. Drummond, who is considered a top NBA prospect, has insurance in case of injury, and presumably a bank loan could easily be secured, given his huge potential income. He could be in the NBA as early as next year."

This got me thinking --

You read a lot of articles about whether or not NCAA players should get paid, given they do bring in revenue to the campus. Wouldn't a bank loan be an elegant, consumption-smoothing, free-market approach to this problem? If you are a good player, you get a larger bank loan. You're still on the hook for the money, so no one's paying you. If you're not a good player, you don't qualify for a loan. There's no issue with deciding which player or which sport should be paid more. Certainly you can't argue that all NCAA athletes should be paid the same (someone playing lax will never bring in the revenues that the basketball team does).

Players complain that they aren't getting their fair share, but this could solve the problem. You could argue that, well, a loan isn't the same as getting paid, and since the players are bringing in revenues they should be getting paid. However, you could also argue that without the NCAA and its framework, some of these players would never be "discovered" -- and thus their entry into professional basketball would have not ever happened.

Thoughts?
 
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this is an interesting perspective. essentially banks would be in the business of prognosticating future earnings of an amateur athlete, to a point where a high-level student-athlete with pro possibilities could borrow against possible future earnings, and attend the school he wants regardless of scholarship openings. seems like it would be too rare of a circumstance to end up happening a lot.
 

Penfield

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I hope Drummond isnt getting a loan from Webster's or People's bank
 
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wow, Im trying t figure out if UCONN will cover the 12 and youre thinking about wether or not my fund manager has Drummond in it.. Thats too much to comprehend 5 minutes to tip...
 

zls44

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I'd like to just say that I suggested this course of action a year ago.

I'm usually wrong about stuff, let me bask.
 
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this is an interesting perspective. essentially banks would be in the business of prognosticating future earnings of an amateur athlete, to a point where a high-level student-athlete with pro possibilities could borrow against possible future earnings, and attend the school he wants regardless of scholarship openings. seems like it would be too rare of a circumstance to end up happening a lot.

Yeah, probably not a common occurrence, but you figure in between MLB, NFL and NBA players, there could be a potential market. Could probably charge some interesting rates as well or maybe for a percent of their future earnings. I think this exists in soccer, at least in Latin America.
 

willie99

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OK, who on this board is "bank"?
 
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I hate owing money to greedy banks or giving them additional revenue streams. They never give back, they are simply takers!
 
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