265: Show Me the Money: Exploring NIL with WLJ & Friends

The Startup Junkies Podcast

Summary

This is the Startup Junkie's Podcast, welcome back!

Episode 265 gathered a lot of incredible people around the Startup Junkie table! Alongside our hosts, Jeff Amerine, Caleb Talley, and Davis McEntire, we sat with Meredith Lowry and Judy Henry of Wright Lindsey Jennings Law Practice, and Sarah Goforth and Cari Humphry from the University of Arkansas’ office of entrepreneurship and innovation. The NCAA, the U of A, and the NIL are some big buzz words for any collegiate sports fan and we got to discuss the legal ramifications alongside with the U of A’s response to the matter.

Don’t miss this episode!

Thanks for tuning in!

Shownotes

(0:49) Introducing WLJ and UARK guests

(3:13) Pressure of NIL with the NCAA and UARK

(13:07) UARK Programs to Empower Athletes with New NIL Procedures

(22:12) The Need for Financial Advisement and Education

(26:29) Legalities of This Transition

(35:36) UARK Vs. Other Universities

(41:20) Relationship with Businesses and Universities and NIL Procedures

(48:17) Changing Marketplace and Changing Regulations

(1:02:55) Growth of Sports Management

(1:10:45) Closing Remarks & Wrap Up

Links

Jeff Amerine

Caleb Talley

Davis McEntire

Meredith Lowry

Judy Henry

Wright Lindsey Jennings Law Practice

Sarah Goforth

Cari Humphry

UARK Office of entrepreneurship and Innovation

Quotes

"​​This has been a pressure point boiling up to the surface for a couple of years. And finally became reality when states went ahead and had statutes that immediately came into effect this summer. The NCAA couldn't ignore it any longer and had to take some action."

(7:24) - Judy Henry

"A lot of them are not equipping themselves because they devote so much time to their sport.. [they have no time to ] to really be successful and negotiate and go after opportunities and start their own businesses."

(15:27) - Sarah Goforth

"I feel we've [UARK] differentiated ourselves with the wide variety of mentors and community partners involved who are giving their time and their expertise. And then secondly, taking that wider entrepreneurial lens."

(35:36) Sarah Goforth

"Student-athletes have some really great ideas and there is some grit involved and some determination and commitment."

(37:19) - Cari Humphry

"I really hope that it keeps them engaged in school longer. Taking advantage of the resources that they have as student-athletes and on campus."

(1:09:50) - Cari Humphry

startupjunkie.org wlj.com