No Offseason: The Athletic Women's Basketball Show Episode Summary: "Talkin’ Money with Napheesa Collier" Release Date: December 15, 2023
Introduction
In the December 15, 2023 episode of No Offseason: The Athletic Women's Basketball Show, host Zena Kaeda engages in an insightful conversation with Napheesa Collier, a three-time WNBA All-Star, Team USA Olympic gold medalist, and NCAA champion from UConn. The episode delves deep into the crucial topic of financial literacy among female athletes, the impact of Name, Image, and Likeness (NIL) deals, and the broader support systems within the WNBA.
Financial Literacy and Partnership with U.S. Bank
Zena Kaeda opens the discussion by highlighting the WNBA's Changemaker Program and its partnership with U.S. Bank. She emphasizes the program's role in providing financial education to players, aiming to help them achieve generational wealth.
Zena Kaeda [04:51]: "These are things that anyone can sign up with U.S. Bank to be able to accomplish... women's sports in general, that is the number one place that you got to watch your coins if you want to grow them."
Napheesa Collier reflects on her personal financial journey, admitting that her understanding of finances has been gradual and acknowledges the lack of financial education during her formative years.
Napheesa Collier [07:44]: "It's been a slow one, I can't lie... we didn't have NIL. That happened just after I left, so I just missed the boat on that. But financial literacy is something that should be taught honestly. Starting, like, middle school, some people get chore money or you know, money for birthdays..."
She underscores the importance of early financial education, advocating for mandatory classes in schools to equip young individuals with budgeting, investing, and tax management skills.
Personal Finance Journey
When asked about her financial evolution since joining the WNBA, Collier candidly admits to initial challenges in managing her finances effectively.
Napheesa Collier [09:44]: "Graduating, I think just how to manage my money better... I could have put a little bit into savings. I could have started looking at different investments."
She highlights the transformative impact of the U.S. Bank partnership, which offers tailored financial education and one-on-one advisory services that address the unique financial complexities athletes face, such as multi-state taxation and investment strategies.
Napheesa Collier [14:35]: "Overall, that's hard to pick one thing, I think just education, honestly... having that like accessibility is just so invaluable."
Impact of NIL Deals on Financial Management
Kaeda probes into how Collier would have navigated financial decisions if NIL deals were available during her college years. Collier envisions aligning with brands that resonate with her personal interests and daily use, emphasizing authenticity in partnerships.
Napheesa Collier [11:19]: "I think, you know, I'm with Nike now. I think that partnership would have been, like, really natural because my school is a Nike school... just things that you're genuinely interested in."
She also touches upon her growth as both an athlete and a mother, explaining how her endorsements now align with her role as a parent.
Napheesa Collier [12:31]: "I love it... endorsements, you know, I'm looking for, like, things that fit my life. So that's definitely different from when I was, you know, 22 in the league."
Financial Goals and Achievements
When discussing her financial milestones, Collier proudly shares her accomplishment of purchasing a home, highlighting it as a significant achievement amidst widespread financial challenges faced by many.
Napheesa Collier [16:07]: "Being able to buy a house would definitely like that milestone in everyone's life... we're looking for another house now."
This milestone reflects her prudent financial management and the support systems in place that facilitate such achievements.
Support from the WNBA and Collective Bargaining Agreement (CBA)
The conversation shifts to the support provided by the WNBA and its union in negotiating better financial terms for players. Collier expresses satisfaction with the advancements made through the latest CBA, which has resulted in increased salaries and better resources for players.
Napheesa Collier [18:58]: "It's been great... we are still pushing for more money. We're pushing for bigger TV deals... we want to get paid accordingly."
She underscores the ongoing efforts to secure a more lucrative and sustainable future for current and future players, advocating for higher salaries and enhanced visibility of the league.
Thoughts on UConn's NCAA Season
As an alumna of UConn, Collier shares her perspective on her alma mater's challenging NCAA season, marked by significant injuries and unexpected turnarounds. While expressing disappointment over injuries, she remains optimistic about the team's ability to adjust and thrive.
Napheesa Collier [20:43]: "It's been a little rough... injuries every single season. I hope that UConn does that and, you know, pull through on moisturizer, rooting for them to win the championship."
She maintains a positive outlook, hoping that the adversity faced will pave the way for other players to emerge and shine.
Conclusion
The episode concludes with Kaeda expressing gratitude to Collier for sharing her financial journey and insights. She reiterates the importance of financial literacy and the valuable support provided by U.S. Bank.
Zena Kaeda [22:35]: "We appreciate you giving us a little background on that and also telling us about your own personal journey through it. So you guys know it's not just you. Even Nafisa didn't know."
Collier reciprocates the appreciation, affirming her willingness to return in future episodes.
Napheesa Collier [22:35]: "Yes, for sure. Thanks for having me."
Kaeda wraps up the show by encouraging listeners to continue their financial education and support the growth of women's basketball.
Zena Kaeda [22:36]: "Encouraging you to keep listening, keep learning, save your coins and keep loving the game of basketball. That's the only way we're going to grow it."
Key Takeaways
- Financial Literacy is Crucial: Early education in budgeting, investing, and tax management is essential, especially for athletes who may receive substantial incomes through endorsements.
- Tailored Financial Support: Partnerships like the WNBA’s collaboration with U.S. Bank provide invaluable resources and personalized advice to help athletes manage their finances effectively.
- Impact of NIL Deals: Authentic and meaningful partnerships can enhance an athlete’s brand, but require careful management to align with personal values and long-term financial goals.
- Ongoing Negotiations for Better Pay: The WNBA continues to negotiate for improved salaries and benefits, striving for a sustainable and equitable future for its players.
- Personal Growth and Financial Goals: Achieving significant financial milestones, such as homeownership, underscores the importance of strategic financial planning and support systems.
Notable Quotes
- Napheesa Collier [07:44]: "Financial literacy is something that should be taught honestly. Starting, like, middle school..."
- Napheesa Collier [09:44]: "I wish I would have learned a little bit earlier."
- Napheesa Collier [16:07]: "Being able to buy a house would definitely like that milestone in everyone's life."
- Napheesa Collier [18:58]: "We're still pushing for more money. We're pushing for bigger TV deals."
- Zena Kaeda [22:36]: "Encouraging you to keep listening, keep learning, save your coins and keep loving the game of basketball."
This episode of No Offseason provides a compelling look into the financial challenges and triumphs of a professional female athlete, emphasizing the importance of education, strategic planning, and supportive partnerships in achieving financial stability and long-term success.