College Basketball Stars Now Earn Millions: Top Player Makes $4.2M Yearly

College basketball players are becoming millionaires while still in school, thanks to new rules that let them make money from their fame.

In 2021, the NCAA (the organization that runs college sports) changed its rules to allow student athletes to earn money from their name, image, and likeness (NIL) - basically, they can now get paid for endorsements and sponsorships, just like professional athletes.

The numbers are shocking: • The top college basketball player now earns $4.2 million per year • Over 50 college athletes make more than $1 million annually • Some college players actually take pay cuts when they turn professional • Top schools are spending $40 million per year on athlete payments

How do these deals work? Athletes can: • Sign endorsement deals (getting paid to promote products) • Appear in commercials for local businesses • Make money from social media based on their follower count • Get free cars or other products from sponsors

The article mentions two of the top earners: • Morez Johnson (University of Michigan): $2 million per year • Eli Ellis (University of South Carolina): $2.1 million per year

These massive payments have completely changed college sports. As one expert put it: "College sports are basically pro sports teams now." Coaches are even publicly asking for more money to attract top players to their teams.

This is an AI-generated summary. Read the original article at: https://www.marketwatch.com/story/the-5-highest-paid-college-basketball-players-this-year-no-1-is-making-4-2-million-from-nil-963cbc7a?mod=mw_rss_topstories