They Built the Arena, But Never Saw the Gate!
By Jaron Baston, Commissioner, LAW Fund
The Forgotten Architects of NIL
Before there were 7-figure NIL deals, custom merch drops, and multi-brand endorsement portfolios… There were unpaid legends.
Young men — especially Black athletes — who sold out stadiums, powered entire conferences, and left with injuries, memories, and little else.
No life insurance. No equity. No vault. Just "thanks for your service" and a scholarship.
The Foundation Without Funding
For decades, college sports — especially football and basketball — operated like billion-dollar industries powered by FREE labor. In the 1980s and 90s, Black athletes dominated highlight reels but had no access to financial ownership of their brand, image, or legacy.
Athletes like Ed O’Bannon, Chris Webber, and Reggie Bush became case studies. Their likenesses were used in video games, broadcast deals, and apparel campaigns… without a single direct deposit.
What if those earnings were structured instead of stolen?
What They Never Had Access To
Name, Image, Likeness Capital! They built fanbases, but couldn’t monetize. Today’s athlete can launch merch, license brand deals, and monetize IG stories. They couldn’t sell so much as an autograph.
Permanent Life Insurance (PLI): Imagine if a 1996 Heisman finalist took a slice of a hypothetical $100K NIL and funded a policy. By 2025, it could’ve held hundreds of thousands in cash value — borrowable capital, tax-advantaged, liquid.
Family Trusts & Asset Protection: The idea of setting up a revocable trust, shielding real estate, or owning a personal brand LLC? Impossible under old NCAA rules. Yet the same colleges built endowments (long-term investment funds used by institutions, mostly universities, hospitals, and nonprofits) on the backs of unpaid talent.
Who They Were
- Ed O’Bannon sued the NCAA after seeing himself in a video game without permission or payment. He opened the door to the NIL revolution — and was branded a “troublemaker."
- Chris Webber was nearly destroyed over receiving a few thousand from a booster, despite helping Michigan generate millions.
- Reggie Bush lost his Heisman over alleged improper benefits. But USC made tens of millions while he played.
These aren’t sob stories. They’re blueprints — sacrifices that bought today’s freedom.
The Gold Rush They Never Saw
In 2024, high school recruits arrive with million-dollar brand deals waiting. Players launch LLCs, fund policies, build merch lines, and sign tax-deductible trust-based structures by age 19.
They are standing on the shoulders of men who were told to be grateful for a dorm bed and a training table meal.
The Lesson for Today’s Athlete
You don’t owe silence. You owe stewardship -the responsible overseeing and protection of the NIL gate.
You are not just cashing in. You are continuing a legacy that started decades ago.
Fund the policy. Structure the trust. Circulate the dollar. Do what they couldn’t — and build what they weren’t allowed to.
This article is part of LAW Fund's "The Lost Athlete" series. To learn more about how to structure NIL wealth for legacy, visit www.lawfund.co.
Move Quiet. Move First. Own Forever.
Jaron Baston
