Overtime Elite Offers High School Athletes Six Figures
- Overtime Elite (OTE) is a newly funded league that provides high school players an alternative pathway towards achieving their professional sports dreams.
- Instead of players attending college or exploring other opportunities to earn money, OTE pays athletes ages 16 to 18 six figures to showcase their athletic skills.
- OTE provides financial literacy programs to the six-figure earning athletes to equip them for a positive financial future.
Children who play basketball often dream of becoming the next Kobe, LeBron, or Michael Jordan at a young age. Many dream of the day their name gets called in the NBA draft. When prospective talents get to high school, their dreams of potentially playing professional basketball become closer with each passing day. However, the current NBA rule requires the minimum age of draftees to be 19, meaning aspiring NBA rookies needed to attend at least one year of college or the G-League prior to being eligible for the draft.
The lack of pay as a college athlete has led to some players forfeiting their opportunity to attend college, as they wished to get paid for their skills, something that the NCAA did not offer until July 2021. As a result, Houston Rockets rookie guard Jalen Green and Charlotte Hornets guard Lamelo Ball decided to take their talents elsewhere as there was no money to make if they played in college.
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Overtime Elite aims to provide a solution to the problem. OTE, a new league, funded by big names such as superstar rapper Drake and billionaire Jeff Bezos, seeks to be an alternative for high school players who have the potential of making it to the NBA.
What is the Overtime Elite League?
The OTE, Overtime Elite, is a transformative new sports league that offers an abundance of services to talented young basketball players. Its Head of Basketball Operations, Brandon Williams, is a former NBA player and executive who brings extensive knowledge.
The league’s primary purpose is to provide OTE players aged 16 to 18 with a financially funded pathway to becoming professional athletes. However, if they wish to go down this route, they must give up their eligibility to play in high school and college as they participate in a more competitive league. Twenty-seven players are selected from across the country to compose three OTE teams, then put head to head in the OTE league series.
What Does Overtime Elite Do for High School Age Athletes?
As early as July 2021, college athletes can make money from their name, image, and likeness (NIL). However, college athletes were not given any money before this date, regardless of how much they generated for the NCAA. Thus, players such as Lamelo Ball and Jalen Green decided to take their talents elsewhere before being drafted, with Lamelo playing in Lithuania and Australia and Green in the NBA G-League.
Prior to OTE, many high school graduates chose to play overseas in order to be paid for their skills right after graduation .
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Many believe that OTE provides players a better pathway to help their athletes be ready for the NBA and prepare them for financial situations they may encounter in the future. Additionally, OTE provides player development to its athletes to help them perform better and increase their chances of success within the NBA. OTE’s Director of Player Development is NBA veteran Kevin Ollie, and due to his past experience, he is more than capable of teaching the athletes how to make it to the top.
Furthermore, the OTE league provides each player with a $100,000 salary, and as they know, receiving such a large sum of money at a young age could result in them developing unhealthy financial habits. Therefore, they also provide financial literacy services to help the athletes get more in-depth knowledge regarding money.
Why Teaching Financial Literacy is Important
There are countless stories about athletes who have gone broke after their career has ended due to their poor financial habits. However, there are some athletes who are smart with their money and have used it effectively to help them establish financial stability and create generational wealth.
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Having access to financial literacy programs allows these young athletes to be aware that their high-income level will run out one day if it is not adequately managed. In addition, these services will enable them to learn about crucial financial strategies that will help them generate a higher income off the courts.
How CapWay Offers Financial Literacy
CapWay offers its own brand of financial literacy for all ages, and these programs go over an extensive range of financial topics applicable to daily life. For example, CapWay’s Phunds program has a FREE 4-week program that addresses vital economic issues, such as investing, budgeting, and personal finance. The program is available to anyone with a CapWay user account.
Many soon-to-be pro athletes choose to skip college and play in lower-level leagues to generate income to help their families through financial hardship. Unfortunately, playing college basketball does not offer these players much, while OTE offers the world. Fortunately, OTE provides high school-aged athletes with a substantial salary. In turn, these athletes can help their families while preparing for their future in the NBA.
What are your thoughts on the OTE? Do you think it’s a good idea to pay high school athletes six figures? Let us know in the comments below.
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