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Just saw this. A sign of things to come?

SPORTBLX/PJ WASHINGTON, INC., created by Sport-BLX, Inc., and PJ Washington Jr., focuses on generating profits from an economic interest in the General Partner of the Athlete Empowerment Fund (AEF), creating an NFT marketplace, non-exclusive services in brand management, wealth management, strategic investments, data analytics, consulting, and other businesses operations associated with PJ Washington Jr. and other athletes.

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36 minutes ago, Reacher said:

Just saw this. A sign of things to come?

SPORTBLX/PJ WASHINGTON, INC., created by Sport-BLX, Inc., and PJ Washington Jr., focuses on generating profits from an economic interest in the General Partner of the Athlete Empowerment Fund (AEF), creating an NFT marketplace, non-exclusive services in brand management, wealth management, strategic investments, data analytics, consulting, and other businesses operations associated with PJ Washington Jr. and other athletes.

What could possibly go wrong? Wealth management?

NBA Rookie P.J. Washington Sells Stock in Future Earnings

Charlotte Hornets forward P.J. Washington has signed on as the first official player partner of the sports-themed investment platform SportBLX, issuing 100,000 shares of a corporation he plans to use for future investments.

SportBLX says this marks the first time that the general public is able to invest alongside a pro athlete in a non-traditional asset. Shares of the newly formed corporation, P.J. Washington Inc., are available for $100 apiece and tie fans to Washington and his personal financial success.

Investors are entitled to an annual 5% preferred stock dividend as well as a split of potential upside from the corporation’s operations, which can include non-exclusive branding, wealth management advisory, strategic investments, data analytics and consulting. 

SportBLX now has sports offerings within horse racing and the NBA, with plans to expand into baseball, football and golf.

The Contract

The athlete agrees to sell a certain percentage of his/her on field/court earnings over a certain period of time. In the case of a team, an owner agrees to sell a percentage of equity. The athlete or team works with SportBLX in creating exclusive NFT digital collectibles for shareholders.

NFT DIGITAL COLLECTIBLES

For each Athlete Company investment made, you can claim an official NFT (non-fungible token) digital collectible from The SportBLX Collection. The collection will highlight unique athlete or team content. These exclusive digital collectibles are crafted directly with the athletes or teams and are minted on the blockchain in limited supply (ex. 1 out of 10) for you to collect!

 

 

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3 hours ago, 13th&Jackson said:

What could possibly go wrong? Wealth management?

NBA Rookie P.J. Washington Sells Stock in Future Earnings

Charlotte Hornets forward P.J. Washington has signed on as the first official player partner of the sports-themed investment platform SportBLX, issuing 100,000 shares of a corporation he plans to use for future investments.

SportBLX says this marks the first time that the general public is able to invest alongside a pro athlete in a non-traditional asset. Shares of the newly formed corporation, P.J. Washington Inc., are available for $100 apiece and tie fans to Washington and his personal financial success.

Investors are entitled to an annual 5% preferred stock dividend as well as a split of potential upside from the corporation’s operations, which can include non-exclusive branding, wealth management advisory, strategic investments, data analytics and consulting. 

SportBLX now has sports offerings within horse racing and the NBA, with plans to expand into baseball, football and golf.

The Contract

The athlete agrees to sell a certain percentage of his/her on field/court earnings over a certain period of time. In the case of a team, an owner agrees to sell a percentage of equity. The athlete or team works with SportBLX in creating exclusive NFT digital collectibles for shareholders.

NFT DIGITAL COLLECTIBLES

For each Athlete Company investment made, you can claim an official NFT (non-fungible token) digital collectible from The SportBLX Collection. The collection will highlight unique athlete or team content. These exclusive digital collectibles are crafted directly with the athletes or teams and are minted on the blockchain in limited supply (ex. 1 out of 10) for you to collect!

 

 

That's $100 million at issue.  Is this guy the next LeBron James or something?  Sounds like a LOT for a portion of his future earnings.  Considering the uncertainty, this looks like a questionable investment at best.  If he blows a knee early...yikes.

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https://www.cbssports.com/college-football/news/classifying-college-athletes-as-employees-nlrb-memo-sets-stage-for-further-ncaa-destabilizationl

Crap keeps getting deeper! 
What bothers the s… out of me is I competed in the D1 national championships, my son provisionally qualified for the D2 national championships. Neither one of us got any monetized remuneration! What makes these Aholes….. never mind rant done,  they’re just abused individuals?

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16 hours ago, Drroogh said:

https://www.cbssports.com/college-football/news/classifying-college-athletes-as-employees-nlrb-memo-sets-stage-for-further-ncaa-destabilizationl

Crap keeps getting deeper! 
What bothers the s… out of me is I competed in the D1 national championships, my son provisionally qualified for the D2 national championships. Neither one of us got any monetized remuneration! What makes these Aholes….. never mind rant done,  they’re just abused individuals?

I find "this is the way it was for me so it shouldn't change" arguments very unconvincing. Just because you and your son didn't get paid to play doesn't make it right nor does it mean it shouldn't change.

Congratulations to the two of you on successful college playing careers.

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59 minutes ago, go_iu_bb said:

I find "this is the way it was for me so it shouldn't change" arguments very unconvincing. Just because you and your son didn't get paid to play doesn't make it right nor does it mean it shouldn't change.

Congratulations to the two of you on successful college playing careers.

But still, doesn't this really have the potential to destroy at least some college sports? If the athletes are "employees", revenue produced by each individual sport becomes an issue, doesn't it?

Sports who don't produce any revenue would be at a huge risk, and I think women's sports would particularly be affected. 

Schools aren't going to carry teams that are a fiscal burden in this...

 

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56 minutes ago, IUFLA said:

But still, doesn't this really have the potential to destroy at least some college sports? If the athletes are "employees", revenue produced by each individual sport becomes an issue, doesn't it?

Sports who don't produce any revenue would be at a huge risk, and I think women's sports would particularly be affected. 

Schools aren't going to carry teams that are a fiscal burden in this...

 

Yes, I imagine it does have that potential. That's not a good enough reason to keep things the way they are, though. Exploitive manipulation of what is or isn't an employee shouldn't be tolerated just to keep other sports. 

I suspect that other men's sports are more at risk than women's sports due to football and Title IX.

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3 hours ago, go_iu_bb said:

I find "this is the way it was for me so it shouldn't change" arguments very unconvincing. Just because you and your son didn't get paid to play doesn't make it right nor does it mean it shouldn't change.

Congratulations to the two of you on successful college playing careers.

I need to clarify neither of us competed in one of the major sports I imagine athletes in the non major sports will not get much more than we did.

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4 hours ago, go_iu_bb said:

Yes, I imagine it does have that potential. That's not a good enough reason to keep things the way they are, though. Exploitive manipulation of what is or isn't an employee shouldn't be tolerated just to keep other sports. 

I suspect that other men's sports are more at risk than women's sports due to football and Title IX.

I never lobbied for keeping things the way they are...I think the NIL is a good idea. I'm just not sure if I'm down with considering student athletes "employees."

We all know college football is the king of revenue producing sports, with basketball a distant second. So what happens to all of the scholarship athletes who play sports that live off of the revenue producers? Do they get the same wages as say a football player? Do they get a lesser wage? Do they have to claim the education benefits they currently receive as income? 

If they unionize, can we look forward to the occasional work stoppage like we have in professional sports?

I personally don't believe non revenue sports would survive. I think college administrators would either dub them club sports, or drop them all together, regardless what Title IX says now. Reading through it, it would seem that it would have to at the very least be rewritten.

So many questions...

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I think making athletes employee is a terrible idea. Are they going to qualify for benefits? Disability insurance? I guess you could say they are seasonal or part time employees but is that really the case? I see this doing nothing but creating confusion-and lawsuits. 

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2 hours ago, Reacher said:

I think making athletes employee is a terrible idea. Are they going to qualify for benefits? Disability insurance? I guess you could say they are seasonal or part time employees but is that really the case? I see this doing nothing but creating confusion-and lawsuits. 

It is just going to blow up college athletics.  I think at a certain point you will have many, many schools says screw this and just bow out.  They talk about all the money these programs make but the majority of them don't make profit.  You still going to charge students an athletic fee to pay employees?  Employees who get free classes, free food, free housing, access to free tutors, access to strength and conditioning coaches, who demand constant facility upgrades...

Yeah, the athletics used to help advertise the schools but in an environment where kids are walking away with mortgage sized debt, at a certain point the schools are really going to have to explain to the peons who can't throw a ball why they are subsidizing a semi-pro professional team on every campus.  The Pacers and Colts are just down the road from IU and Purdue.....

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1 hour ago, IUCrazy2 said:

It is just going to blow up college athletics.  I think at a certain point you will have many, many schools says screw this and just bow out.  They talk about all the money these programs make but the majority of them don't make profit.  You still going to charge students an athletic fee to pay employees?  Employees who get free classes, free food, free housing, access to free tutors, access to strength and conditioning coaches, who demand constant facility upgrades...

Yeah, the athletics used to help advertise the schools but in an environment where kids are walking away with mortgage sized debt, at a certain point the schools are really going to have to explain to the peons who can't throw a ball why they are subsidizing a semi-pro professional team on every campus.  The Pacers and Colts are just down the road from IU and Purdue.....

Exactly. Are all of the University employees going to get free housing and meals and free classes? Get a job in the dining hall and get those perks? 

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1 hour ago, Seeking6 said:

Sounds like a NIL event is scheduled for November 6th with our friends at HH in partnership with Cuban. Meet and greet players, photos, get on the court,etc...tickets on sale Friday.

Looks like a great event, hoosier hysteria the remake.  Effort and passion!  Some are going to spin it for whatever reason.  There is someone on another board already doing it.  Let's face it, these fans + Cuban are different makers and they have access unlike anyone else.  And, they are doing it for not only hobby, but more importantly for the players and fans.  

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37 minutes ago, Fiveoutofsix said:

Looks like a great event, hoosier hysteria the remake.  Effort and passion!  Some are going to spin it for whatever reason.  There is someone on another board already doing it.  Let's face it, these fans + Cuban are different makers and they have access unlike anyone else.  And, they are doing it for not only hobby, but more importantly for the players and fans.  

I don't go to other boards....but I hope someone would shut that person down. This is our new world. Events like this are shown to future recruits saying something along the lines of we are going to do events like this where each player can earn X.....

I love the NIL. Now it's all out in the open.

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15 minutes ago, Seeking6 said:

I don't go to other boards....but I hope someone would shut that person down. This is our new world. Events like this are shown to future recruits saying something along the lines of we are going to do events like this where each player can earn X.....

I love the NIL. Now it's all out in the open.

They were not complaining about the event but the person who is putting the event on.  Some think that Eric is not a good person for the University to have help with the NIL.

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2 minutes ago, IU Scott said:

They were not complaining about the event but the person who is putting the event on.  Some think that Eric is not a good person for the University to have help with the NIL.

Its silly, my opinion.  It's obvious the players have a positive relationship with him.  So do the coaches.  So do thousands of fans.  So do alumni.  

Because they joke around, or interview recruits.  No difference reaching out to high school coaches to get a scoop.  Or, talking to a recruit at a restaurant.  Or posting info on a board.  All is fun and different perspectives 

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7 minutes ago, IU Scott said:

They were not complaining about the event but the person who is putting the event on.  Some think that Eric is not a good person for the University to have help with the NIL.

I've heard his name before and I don't know a thing about him....all I'll say is if Cuban is going to put his name together with someone they can't be that bad. 

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50 minutes ago, Seeking6 said:

I've heard his name before and I don't know a thing about him....all I'll say is if Cuban is going to put his name together with someone they can't be that bad. 

It is because of how he is a little creepy around 18 year old recruits.

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