David Pessin, PK Law (left) with Jeff Salkin, Host, Your Money & Business
David N. Pessin, Founding Member of PK Law, recently appeared on Maryland Public Television’s “Your Money & Business” to provide his thoughts on the NCAA’s recent proposal concerning paying athletes for their name, image and likeness. “For many years, the NCAA has been under tremendous pressure to create this policy but, in my view, this does not represent a giant step forward,” Pessin explained. “My prediction is that the discussion will continue to linger, and it will be some time before these issues become resolved. Numerous bylaws and statutes need to be reconciled to satisfy the many objectives of the NCAA conferences, schools and student-athletes.”
The NCAA Board of Governors recently voted to support measures that would allow for the payment of athletes, with the goal of instituting policy by January 2021. The proposal suggests compensation for student-athletes for signing autographs, social media advertising and sponsoring products or corporations.
“Some would suggest that athletes are getting paid now, based on what we have learned from what various FBI investigations have uncovered,” Pessin added. “Let’s assume that an athlete starts receiving compensation for wearing a particular brand of sneakers. How would that work if a different sneaker company is paying that same school money for wearing their brand of shoes? That seems like a problem that needs to be solved. My biggest takeaway is that this could spell the end of the NCAA. Larger schools may determine that they really don’t need the organization to succeed, and they could deal with less rules and regulations without it. The NCAA may instead govern Division II and III schools where amateurism is still mainly intact.”
Your Money & Business airs each Thursday at 7pm on Maryland Public Television. The program introduces viewers to leaders from some of the region's best-known companies and travels to out-of-the-way, quirky businesses in its Behind The Biz segments.
David Pessin provides guidance and counsel to individuals with wealth preservation and asset protection matters, and works with a number of professional athletes and broadcasters, both locally and nationally.
Pessin Katz Law, P.A. (PK Law) is the ninth largest law firm in the Baltimore area and has been serving clients for over thirty years. PK Law maintains full-service offices in Towson, Columbia, and Bel Air and is comprised of more than 50 lawyers. Practice areas include corporate law, real estate, zoning, education law, estate planning, elder law, labor and employment, commercial and business litigation, insurance law and medical malpractice defense. For additional information, visit www.PKLaw.com.
