00:00:00
Speaker 1: It is twenty three from five o'clock. This is ESPN fifteen thirty. I'm Oeger. Next hour Richard Skinner, and we got the dude from MLS Season Pass who's calling FC Cincinnati and Columbus on Saturday.
00:00:13
Speaker 2: Six o'clock game.
00:00:15
Speaker 1: It's Decision Days, so to speak with all the different game threes between Friday, Saturday and Sunday that coming up at five forty five. We'll get to sports headlines here in a few but first it's Wednesday, which means we chat with our friend from Dean Dorton Private Wealth wealth advisor, Amy Wagner, to talk sports and money, and we get you in studio, which is the best. How's it going.
00:00:37
Speaker 2: Good to be here?
00:00:38
Speaker 3: I thought we were going to talk for this entire whatever ten minutes about the Colin Chandler dunk.
00:00:42
Speaker 1: Yes, you're excited about that, and you should be excited about that.
00:00:45
Speaker 3: That was fun for any UK basketball fans out there. That's a nice fun start to the season.
00:00:52
Speaker 1: They're pretty good last night. Play Louisville next Tuesday, which is gonna be interesting because it's so early in the calendar. But the Wildcats are going to be good this year, so are the Cardinals. It's exciting.
00:01:03
Speaker 3: No one has any insight into why that game is so particularly early. It usually happens between Christmas and New Year's. I am a house divided. Yeah, my husband is a Cardinals grant. I'm a Cat's fan and a grad so.
00:01:15
Speaker 1: I don't understand. I don't know. I've asked every UK or Louisville fan I know, like, why are they playing before they play the football game against each other?
00:01:23
Speaker 2: It's weirdly.
00:01:24
Speaker 3: It makes the game weirdly somewhat irrelevant, except for at least in my house, it's very relevant.
00:01:29
Speaker 1: Well, I don't want to say irrelevant, but I wish it really early. It's too early, especially in this era where you don't know. You know less about teams early in the season now than you used to, and these games are more fun when you know more about the teams.
00:01:43
Speaker 3: Yes, well, you know, this is the annual time of the year when as a UK fan you have to learn all the new names of all the new players. But I have literally been doing this since I was in high school as a UK fan. Now, with a transfer portal and nil, everyone has to do. Okay, basketball, Welcome to the party, everyone, like you know, it's October, it's November.
00:02:05
Speaker 2: You have to learn the.
00:02:06
Speaker 3: Name of your college basketball players because they don't stick around for more than a hot minute.
00:02:11
Speaker 1: This is true. So a huge part of that component is name, image and likeness. Ye, and I want to talk about this from a high school perspective because now in the state of Ohio, and there are many other who many others who are doing the exact same thing. But now in the state of Ohio, athletes are apparently going to be able to benefit from NIL.
00:02:31
Speaker 2: Yeah, that's a thing. Yeah, it is.
00:02:32
Speaker 3: In fact, Ohio was kind of one of the last holdouts, one of only six states that was not well allowing high school athletes to benefit from NIL. And actually the mom of a seventeen year old junior standout wide receiver already committed to Ohio State.
00:02:53
Speaker 2: Put a lawsuit in for him.
00:02:55
Speaker 3: Okay, and the judge then issued a temporary restraining order against the man that you could not benefit in this state of Ohio.
00:03:03
Speaker 2: So here's the deal.
00:03:04
Speaker 3: The NASH or the Ohio High School Athletic Association was set to vote on this next May anyway, so the writing was kind of already on the wall that this was going to change, but this temporary restraining order then kind of pushed that timeline up a bit. So now they're actually voting later this month. Everyone believes that this will actually pass. Now in twenty twenty two, when it came before those who vote it was everyone was like no. Now I think it's like, okay, everyone's already doing this.
00:03:32
Speaker 2: Now to varying degrees.
00:03:34
Speaker 3: So in this state of Texas, the way that NIL works for high school students is you have to be at least seventeen, you have to be at least a high school senior, and you cannot get any of that money until you have enrolled in a college. Okay, So each state is dealing with this somewhat differently.
00:03:55
Speaker 2: Right, there's not a national way.
00:03:58
Speaker 3: But one interesting that Ohio has done is they are now partnering with a firm called Influential Athlete. A lot of other states have used this, and this is where they kind of come in. It's a firm that comes in and kind of educates high schools, athletic directors, coaches parents on NIL, how it works, how to use it to your benefit.
00:04:19
Speaker 2: The pitfalls to look out for.
00:04:20
Speaker 3: So, as someone who is a huge proponent of financial literacy. I'm glad that we're not like dumping thousands of dollars in high school athletes.
00:04:29
Speaker 2: Pockets and then say like, good luck, figure this out on your own. So I think that's the step in the right direction.
00:04:35
Speaker 1: So here's my question. So high school athletes can get nil deals, but can other could like somebody who's great a drama or in the band, or there's something else, some other activity, can they get nil?
00:04:47
Speaker 3: I mean, we're not there yet. That I give that I have seen, but I'm going to.
00:04:51
Speaker 2: Miss want everybody to get paid.
00:04:54
Speaker 3: I mean, I was one heck of a clarinet player in middle school and I cannot believe no one ever made an offer to me. But you know, I mean this is you know, these are the dominoes that are starting to fall, and it's just a whole new world, you know. I Mean, it wasn't that long ago that parents were putting Listen, we were all put if your kid plays a sport at any kind of somewhat competitive level, you're paying a ridiculous amount of money, right And so for the longest time, it was like your hope was that your kid might get some college tuition pay for because you've more than paid for that upfront. Lessons, training, conditioning, all the things.
00:05:30
Speaker 2: This is a slight twist on that.
00:05:31
Speaker 3: Right now, you're student, your kid could be making money in high school. Now listen, we're not talking major dollar signs. I was looking today. I think of those reporting there's a handful of kids or less that are making over a million dollars in high school. But listen, you know my son is getting a new job as a busser at Summit Hills Country Club.
00:05:52
Speaker 2: Like, he's not going to make the kind of money the likely these athletes are.
00:05:56
Speaker 3: So you know, for parents who have standout athletes, make sure you're having these conversations. You and I've talked about this on the collegiate level. Like one consideration is taxes. Yes, right, you're going to have to pay money. You have to pay tax on this money that you're making. And another thing in parents, this is like how I think is the best way to look at this money of you have a seventeen year old and eighteen year old, how do you make the longest term difference.
00:06:20
Speaker 2: In their lives?
00:06:21
Speaker 3: You can actually open a wroth ira and to your point, you can do this.
00:06:26
Speaker 2: It has doesn't have to be with nil money.
00:06:27
Speaker 3: It's any earned money that someone has, right, So if your kid is mowing lawns or babysitting, you can open a.
00:06:35
Speaker 2: Custodial wroth IRA for them.
00:06:38
Speaker 3: They can put up to seven thousand dollars a year in it, up to the amount that they've actually made.
00:06:44
Speaker 2: So that's a great way.
00:06:45
Speaker 3: They're paying taxes on it now, they're probably in a pretty low tax bracket, right, and then that money is invested and it can grow and talk about a difference by the time they get to retirement.
00:06:53
Speaker 2: That's a great use of that money.
00:06:54
Speaker 1: See, this is why I wish you know you were in my life when I was in high school busing tables at Beale Street cafe, because I would get.
00:07:02
Speaker 2: My child'll be retired by now.
00:07:03
Speaker 1: I would be Nobody was telling me put that in a wroth are All I would do is give my money to someone who was over the age of twenty one, and they weren't investing in it for me.
00:07:11
Speaker 2: You know, you know what I mean? Yeah, there was to be fair.
00:07:13
Speaker 3: Yes, I obviously live in a household where we talk about these money situations quite often. It is normal dinner table conversation. We have three now four when he starts working. Kids who are making you know, salaries, who have jobs, and so we offered, hey, up to a certain amount, if you put money into a roth Ira, we will match you. Of the three children who have been working, not a single one of them have taken us up on that offer. It's like, what kind of introducing them to the concept of the company match, right, And I say, like, you're literally turning down free money. Well, our kids have all turned down free money from us, not understanding, hey, Chipotle or that new whatever probably will not have the lasting impact of a roth Ira.
00:07:57
Speaker 2: So we were even talking about it, trying to educate our kids on it.
00:08:01
Speaker 3: You know, not the easiest thing for them to understand right now, but we're working on it.
00:08:05
Speaker 1: You are working on it. There's one other thing I want to talk about. You joined me a month or so ago, and we were talking about especially with like football season starting streaming, and you know, it's it's it's harder and harder to be a sports fan if you love all sports. Because of Peacock, Netflix, Amazon Prime, ESPN Plus, Paramount, Hulu, I have to like, as a UC basketball fan, I've already started to think about all the stuff I'm gonna have to subscribe to So. Now in this world, a lot of folks have YouTube TV, right, and so YouTube TV and ESPN are in a fight with each other. Where YouTube TV has dropped ESPN, they've dropped ABC and so a common friend of ours last night text me because he wanted to watch the Kentucky game. Could I get your ESPN log in? Like, yeah, okay, Pally, yeah, captain YouTube TV over there, yeah, big boy. Now, so I so I hooked him up.
00:08:56
Speaker 2: This this just this adds to it.
00:08:58
Speaker 1: It's and I'm not a YouTube TV subscriber, but it is so frustrating. This though, this phenomenon not necessarily.
00:09:04
Speaker 3: No, well, it's insane first of all, that to watch even just even if you're just an NFL fan, Right, we've talked about this Thursday night package is on a different thing. It was like yes, and then what you're gonna watch on the weekends, and then oh, if you want to watch the games on Christmas Eve or whatever, that's just yes.
00:09:21
Speaker 2: Like so it's insane. The number.
00:09:23
Speaker 3: So you finally feel like, okay, we've got the streaming system down right, and then you have a breakdown between Google and Walt Disney parent companies are both and now suddenly you can't watch what you want.
00:09:34
Speaker 2: I've seen. Hey it's impacting NBA games. Hey it's impacting college football.
00:09:38
Speaker 3: You know the interesting thing is you know, Okay, so what's the workaround?
00:09:42
Speaker 2: Okay, Well, you can change your pay TV provider.
00:09:45
Speaker 3: You could go to like a Hulu, or you could add direct to consumer streaming account. Guess what either of those things are going to cost you more. You would be adding more subscriptions to most of us have already way too many. It, yes, yes, and doesn't seem like there's an end in this insight now. As someone who has been on local TV for a long time, I have been in many newsrooms where there was breakdowns between whatever cable provider and the local network and all the things, and you know, the people wanted to watch whatever it was that they wanted to watch, and the newsroom lines would be bringing off the hook. This is kind of the twenty twenty five version of that. I mean, we'll see if they come to an agreement anytime soon, but in the meantime, I get it.
00:10:24
Speaker 2: It's frustrating and costly.
00:10:27
Speaker 1: Extraordinarily, and the viewer always loses, right, The viewer always losesn't so like you might say, well, then you know, bounce to aulta fiber or Spectrum or just get the ESPN app. It's there's no guarantee, especially if you bounce to another provider, there's not going to be some sort of carriage dispute with them involving another network. It's just that to me is the one that's so frustrating, especially when you it's these two mammoth behemens, right, Google and Disney. There's enough money there, can't you just figure it out so I could watch Monday night football and the Kentucky game without having to borrow somebody's password.
00:11:02
Speaker 3: I'm sure you've seen that Pat McAfee's comments about like KM and it's like he gets paid from one of like one of these he's the ESPN guy, right and so, and he's like, listen, everyone, let's put down your swords.
00:11:12
Speaker 2: People love sports. Can we let them watch sports?
00:11:14
Speaker 3: And I appreciate someone who has that kind of a platform speaking up and saying this is absolutely ridiculous to line the pockets of pockets that are already overflowing.
00:11:25
Speaker 1: You know, you know, just FYI radio broadcast of games always free there you go. iHeartRadio app absolutely free.
00:11:32
Speaker 3: You know, no fail, no miss and by the way, the best commentary you could ever get.
00:11:37
Speaker 1: Lance and Tony are great. Yeah, with no carriage disputes. We just we give you the games and we don't put you in the middle. That's why radio is better. Amy Wagner, though, is the best. Deandortonwealth dot Com. We will We'll see you next week.
00:11:50
Speaker 2: Appreciate that segue better to best. I like it. I like that. Yeah, I worked on that. You're talented, debatable, you love it.
00:11:56
Speaker 1: Away from five o'clock Deandortonwealth dot Com. This is ESPN fifteen thirty Cincinnati sports station,
Speaker 1: It is twenty three from five o'clock. This is ESPN fifteen thirty. I'm Oeger. Next hour Richard Skinner, and we got the dude from MLS Season Pass who's calling FC Cincinnati and Columbus on Saturday.
00:00:13
Speaker 2: Six o'clock game.
00:00:15
Speaker 1: It's Decision Days, so to speak with all the different game threes between Friday, Saturday and Sunday that coming up at five forty five. We'll get to sports headlines here in a few but first it's Wednesday, which means we chat with our friend from Dean Dorton Private Wealth wealth advisor, Amy Wagner, to talk sports and money, and we get you in studio, which is the best. How's it going.
00:00:37
Speaker 2: Good to be here?
00:00:38
Speaker 3: I thought we were going to talk for this entire whatever ten minutes about the Colin Chandler dunk.
00:00:42
Speaker 1: Yes, you're excited about that, and you should be excited about that.
00:00:45
Speaker 3: That was fun for any UK basketball fans out there. That's a nice fun start to the season.
00:00:52
Speaker 1: They're pretty good last night. Play Louisville next Tuesday, which is gonna be interesting because it's so early in the calendar. But the Wildcats are going to be good this year, so are the Cardinals. It's exciting.
00:01:03
Speaker 3: No one has any insight into why that game is so particularly early. It usually happens between Christmas and New Year's. I am a house divided. Yeah, my husband is a Cardinals grant. I'm a Cat's fan and a grad so.
00:01:15
Speaker 1: I don't understand. I don't know. I've asked every UK or Louisville fan I know, like, why are they playing before they play the football game against each other?
00:01:23
Speaker 2: It's weirdly.
00:01:24
Speaker 3: It makes the game weirdly somewhat irrelevant, except for at least in my house, it's very relevant.
00:01:29
Speaker 1: Well, I don't want to say irrelevant, but I wish it really early. It's too early, especially in this era where you don't know. You know less about teams early in the season now than you used to, and these games are more fun when you know more about the teams.
00:01:43
Speaker 3: Yes, well, you know, this is the annual time of the year when as a UK fan you have to learn all the new names of all the new players. But I have literally been doing this since I was in high school as a UK fan. Now, with a transfer portal and nil, everyone has to do. Okay, basketball, Welcome to the party, everyone, like you know, it's October, it's November.
00:02:05
Speaker 2: You have to learn the.
00:02:06
Speaker 3: Name of your college basketball players because they don't stick around for more than a hot minute.
00:02:11
Speaker 1: This is true. So a huge part of that component is name, image and likeness. Ye, and I want to talk about this from a high school perspective because now in the state of Ohio, and there are many other who many others who are doing the exact same thing. But now in the state of Ohio, athletes are apparently going to be able to benefit from NIL.
00:02:31
Speaker 2: Yeah, that's a thing. Yeah, it is.
00:02:32
Speaker 3: In fact, Ohio was kind of one of the last holdouts, one of only six states that was not well allowing high school athletes to benefit from NIL. And actually the mom of a seventeen year old junior standout wide receiver already committed to Ohio State.
00:02:53
Speaker 2: Put a lawsuit in for him.
00:02:55
Speaker 3: Okay, and the judge then issued a temporary restraining order against the man that you could not benefit in this state of Ohio.
00:03:03
Speaker 2: So here's the deal.
00:03:04
Speaker 3: The NASH or the Ohio High School Athletic Association was set to vote on this next May anyway, so the writing was kind of already on the wall that this was going to change, but this temporary restraining order then kind of pushed that timeline up a bit. So now they're actually voting later this month. Everyone believes that this will actually pass. Now in twenty twenty two, when it came before those who vote it was everyone was like no. Now I think it's like, okay, everyone's already doing this.
00:03:32
Speaker 2: Now to varying degrees.
00:03:34
Speaker 3: So in this state of Texas, the way that NIL works for high school students is you have to be at least seventeen, you have to be at least a high school senior, and you cannot get any of that money until you have enrolled in a college. Okay, So each state is dealing with this somewhat differently.
00:03:55
Speaker 2: Right, there's not a national way.
00:03:58
Speaker 3: But one interesting that Ohio has done is they are now partnering with a firm called Influential Athlete. A lot of other states have used this, and this is where they kind of come in. It's a firm that comes in and kind of educates high schools, athletic directors, coaches parents on NIL, how it works, how to use it to your benefit.
00:04:19
Speaker 2: The pitfalls to look out for.
00:04:20
Speaker 3: So, as someone who is a huge proponent of financial literacy. I'm glad that we're not like dumping thousands of dollars in high school athletes.
00:04:29
Speaker 2: Pockets and then say like, good luck, figure this out on your own. So I think that's the step in the right direction.
00:04:35
Speaker 1: So here's my question. So high school athletes can get nil deals, but can other could like somebody who's great a drama or in the band, or there's something else, some other activity, can they get nil?
00:04:47
Speaker 3: I mean, we're not there yet. That I give that I have seen, but I'm going to.
00:04:51
Speaker 2: Miss want everybody to get paid.
00:04:54
Speaker 3: I mean, I was one heck of a clarinet player in middle school and I cannot believe no one ever made an offer to me. But you know, I mean this is you know, these are the dominoes that are starting to fall, and it's just a whole new world, you know. I Mean, it wasn't that long ago that parents were putting Listen, we were all put if your kid plays a sport at any kind of somewhat competitive level, you're paying a ridiculous amount of money, right And so for the longest time, it was like your hope was that your kid might get some college tuition pay for because you've more than paid for that upfront. Lessons, training, conditioning, all the things.
00:05:30
Speaker 2: This is a slight twist on that.
00:05:31
Speaker 3: Right now, you're student, your kid could be making money in high school. Now listen, we're not talking major dollar signs. I was looking today. I think of those reporting there's a handful of kids or less that are making over a million dollars in high school. But listen, you know my son is getting a new job as a busser at Summit Hills Country Club.
00:05:52
Speaker 2: Like, he's not going to make the kind of money the likely these athletes are.
00:05:56
Speaker 3: So you know, for parents who have standout athletes, make sure you're having these conversations. You and I've talked about this on the collegiate level. Like one consideration is taxes. Yes, right, you're going to have to pay money. You have to pay tax on this money that you're making. And another thing in parents, this is like how I think is the best way to look at this money of you have a seventeen year old and eighteen year old, how do you make the longest term difference.
00:06:20
Speaker 2: In their lives?
00:06:21
Speaker 3: You can actually open a wroth ira and to your point, you can do this.
00:06:26
Speaker 2: It has doesn't have to be with nil money.
00:06:27
Speaker 3: It's any earned money that someone has, right, So if your kid is mowing lawns or babysitting, you can open a.
00:06:35
Speaker 2: Custodial wroth IRA for them.
00:06:38
Speaker 3: They can put up to seven thousand dollars a year in it, up to the amount that they've actually made.
00:06:44
Speaker 2: So that's a great way.
00:06:45
Speaker 3: They're paying taxes on it now, they're probably in a pretty low tax bracket, right, and then that money is invested and it can grow and talk about a difference by the time they get to retirement.
00:06:53
Speaker 2: That's a great use of that money.
00:06:54
Speaker 1: See, this is why I wish you know you were in my life when I was in high school busing tables at Beale Street cafe, because I would get.
00:07:02
Speaker 2: My child'll be retired by now.
00:07:03
Speaker 1: I would be Nobody was telling me put that in a wroth are All I would do is give my money to someone who was over the age of twenty one, and they weren't investing in it for me.
00:07:11
Speaker 2: You know, you know what I mean? Yeah, there was to be fair.
00:07:13
Speaker 3: Yes, I obviously live in a household where we talk about these money situations quite often. It is normal dinner table conversation. We have three now four when he starts working. Kids who are making you know, salaries, who have jobs, and so we offered, hey, up to a certain amount, if you put money into a roth Ira, we will match you. Of the three children who have been working, not a single one of them have taken us up on that offer. It's like, what kind of introducing them to the concept of the company match, right, And I say, like, you're literally turning down free money. Well, our kids have all turned down free money from us, not understanding, hey, Chipotle or that new whatever probably will not have the lasting impact of a roth Ira.
00:07:57
Speaker 2: So we were even talking about it, trying to educate our kids on it.
00:08:01
Speaker 3: You know, not the easiest thing for them to understand right now, but we're working on it.
00:08:05
Speaker 1: You are working on it. There's one other thing I want to talk about. You joined me a month or so ago, and we were talking about especially with like football season starting streaming, and you know, it's it's it's harder and harder to be a sports fan if you love all sports. Because of Peacock, Netflix, Amazon Prime, ESPN Plus, Paramount, Hulu, I have to like, as a UC basketball fan, I've already started to think about all the stuff I'm gonna have to subscribe to So. Now in this world, a lot of folks have YouTube TV, right, and so YouTube TV and ESPN are in a fight with each other. Where YouTube TV has dropped ESPN, they've dropped ABC and so a common friend of ours last night text me because he wanted to watch the Kentucky game. Could I get your ESPN log in? Like, yeah, okay, Pally, yeah, captain YouTube TV over there, yeah, big boy. Now, so I so I hooked him up.
00:08:56
Speaker 2: This this just this adds to it.
00:08:58
Speaker 1: It's and I'm not a YouTube TV subscriber, but it is so frustrating. This though, this phenomenon not necessarily.
00:09:04
Speaker 3: No, well, it's insane first of all, that to watch even just even if you're just an NFL fan, Right, we've talked about this Thursday night package is on a different thing. It was like yes, and then what you're gonna watch on the weekends, and then oh, if you want to watch the games on Christmas Eve or whatever, that's just yes.
00:09:21
Speaker 2: Like so it's insane. The number.
00:09:23
Speaker 3: So you finally feel like, okay, we've got the streaming system down right, and then you have a breakdown between Google and Walt Disney parent companies are both and now suddenly you can't watch what you want.
00:09:34
Speaker 2: I've seen. Hey it's impacting NBA games. Hey it's impacting college football.
00:09:38
Speaker 3: You know the interesting thing is you know, Okay, so what's the workaround?
00:09:42
Speaker 2: Okay, Well, you can change your pay TV provider.
00:09:45
Speaker 3: You could go to like a Hulu, or you could add direct to consumer streaming account. Guess what either of those things are going to cost you more. You would be adding more subscriptions to most of us have already way too many. It, yes, yes, and doesn't seem like there's an end in this insight now. As someone who has been on local TV for a long time, I have been in many newsrooms where there was breakdowns between whatever cable provider and the local network and all the things, and you know, the people wanted to watch whatever it was that they wanted to watch, and the newsroom lines would be bringing off the hook. This is kind of the twenty twenty five version of that. I mean, we'll see if they come to an agreement anytime soon, but in the meantime, I get it.
00:10:24
Speaker 2: It's frustrating and costly.
00:10:27
Speaker 1: Extraordinarily, and the viewer always loses, right, The viewer always losesn't so like you might say, well, then you know, bounce to aulta fiber or Spectrum or just get the ESPN app. It's there's no guarantee, especially if you bounce to another provider, there's not going to be some sort of carriage dispute with them involving another network. It's just that to me is the one that's so frustrating, especially when you it's these two mammoth behemens, right, Google and Disney. There's enough money there, can't you just figure it out so I could watch Monday night football and the Kentucky game without having to borrow somebody's password.
00:11:02
Speaker 3: I'm sure you've seen that Pat McAfee's comments about like KM and it's like he gets paid from one of like one of these he's the ESPN guy, right and so, and he's like, listen, everyone, let's put down your swords.
00:11:12
Speaker 2: People love sports. Can we let them watch sports?
00:11:14
Speaker 3: And I appreciate someone who has that kind of a platform speaking up and saying this is absolutely ridiculous to line the pockets of pockets that are already overflowing.
00:11:25
Speaker 1: You know, you know, just FYI radio broadcast of games always free there you go. iHeartRadio app absolutely free.
00:11:32
Speaker 3: You know, no fail, no miss and by the way, the best commentary you could ever get.
00:11:37
Speaker 1: Lance and Tony are great. Yeah, with no carriage disputes. We just we give you the games and we don't put you in the middle. That's why radio is better. Amy Wagner, though, is the best. Deandortonwealth dot Com. We will We'll see you next week.
00:11:50
Speaker 2: Appreciate that segue better to best. I like it. I like that. Yeah, I worked on that. You're talented, debatable, you love it.
00:11:56
Speaker 1: Away from five o'clock Deandortonwealth dot Com. This is ESPN fifteen thirty Cincinnati sports station,
