$6k per year max, 13 players, is $78k. That max will rarely be met.
$2,000,000 invested making 4% annually (obviously not always guaranteed) is $80k.
Yay!
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Anyone know the TitleIX implications of Alston $? Since it comes from the university I’d assume it falls under this law. If so the $2M at a 5% spend ratio would fund ~16 pmts/yr, enough to put a dent in the women’s obligation as well. Of course depending on how the MOU is structured there could be limitations on what programs can benefit.
Also, the full 6k isn’t leaving every year since some of it sits in an account earning interest until graduation. Wonder if the interest goes to the player or the fund…
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Brian Niccol named CEO of Starbucks today… fingers crossed for an infusion of Starbucks $$$$ to the program
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he’s the same guy that was CEO of chipotle who already donated $2M to the program last year.