Banking the brave new world of college athletics
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Banking the brave new world of college athletics
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The ability to pay college athletes has led to dramatic upheaval in banking college sports. Revenue-sharing with athletes has required big increases in spending that colleges may not have been counting on, just to be competitive. Meanwhile, the revenue shares and name, image and likeness marketing is putting big money in the hands of athletes who need extra support to handle it. On the latest episode of the ABA Banking Journal Podcast — sponsored by Q2 Software — Charles Frazier, head of the entertainment and sports banking unit at City National Bank, talks about how his team supports both colleges and athletes amid these changes. He also discusses athletes' need for holistic financial and business advice, the need for financial literacy and the growing need of college athletics programs for balance sheet solutions to help them stay competitive.
- Read a Q&A with Frazier in the latest issue of the ABA Banking Journal.