Play for Pay, part II

“Forty thousand dollars-plus a year to play, that's a pretty good salary for an 18-year-old that has no college education, if you think about it that way.” 

-Matt Howard, Butler basketball player

According to an article appearing in USA Today, the average basketball scholarship is worth $120,000.  You can argue about the methodology of arriving at this number, but certainly there is no dispute that college athletes are compensated in some form for their athletic performances.  The question asked by many, are these college athletes getting enough?

I would answer with a resounding YES!

For me, the most compelling argument is based on the nature of the system. Meaning that no one is forced to participate in college athletics.  No one has a gun put to his or her head.  No one is forced to sign with a school under duress.  The system is completely voluntary.  As with any job opportunity, if you don’t like the compensation package, don’t take the job.

But what about the poor kids that don’t have money and an athletic scholarship is their only way to college?  My answer to that is the following question, “since when is it the role of a college athletics department to engage in social engineering and welfare programs?”  This question is especially poignant in light of all of the financial assistance that is offered to ALL students.  Low interest loans, grants and many other sources are available to student athletes.  Why should these athletes be GIVEN more benefits that fans pay for when these other resources exist?

College football is a business, a billion dollar business.  Thus basic economic concepts can be applied to college football’s business model.  When it comes to labor, an analysis of simple supply and demand argues against any additional compensation to athletes.  Every year an enormous pool of seniors graduate from high school looking to take advantage of athletic scholarships.  The supply of potential talent, especially available to BCS schools far outnumbers the available scholarships offered each year.  From a strictly financial view, why would a person pay $10 for something they could get for $6?

Finally, looking at the issue in broader terms, how do we want to view our college athletes?  Does it bother you if they become true semi-professionals?  What message do we send to non-athlete students and young high schoolers growing up?  What exactly is the mission of the university in respect to the athletic department?