Ohio State senior left guard Luke Montgomery and his brother Ryan Montgomery, a redshirt freshman quarterback at Georgia, recently popped up on the Y-option podcast with Yogi Roth.
They talked about how Name, Image, and Likeness (NIL) is changing college football. Dane Burkholder, who founded Financial Athlete and advises the Montgomery brothers, joined in too.
The conversation dove into how fast things are shifting for college athletes, especially when it comes to handling money and all the new challenges that come with it.
The Evolution of NIL in College Football
Luke Montgomery has seen NIL explode since he got to Ohio State. He came in as a high 4-star recruit, ranked No. 3 among interior linemen and No. 93 overall in the country.
Back in 2023, when he first arrived, NIL was barely on the radar. Now it’s everywhere—part of daily life for anyone playing college football.
From Afterthought to Essential Component
He remembers his freshman year, when NIL wasn’t even a big deal. By sophomore and junior year, though, it was suddenly front and center.
Luke even compares the current NIL setup to the NFL’s minor leagues. It’s become that important, and honestly, it’s wild how fast it happened.
The Financial Implications of NIL
With NIL, college athletes are suddenly looking at real money. Montgomery points out that understanding finances—and not making dumb mistakes—is crucial.
He says having smart people around you matters. If you want to make this last, you need the right advice.
The Role of Financial Advisors
Dane Burkholder, who’s been helping the Montgomery brothers, had a few thoughts. He says college athletes are basically running their own businesses, even if they’re still teenagers.
Burkholder recommends learning as much as you can, and building a team you trust. That way, you’re not just thinking about the next few years, but decades down the line. Makes sense, right?
The Challenges of Managing Wealth
Montgomery admits it’s tough for young athletes to handle big money. He jokes about making cash mowing lawns as a kid—now NIL numbers are on another planet.
He’s pretty adamant about investing wisely, though. It’s not just about having money now, but making sure you don’t blow it all.
Agents and Contracts
With all this cash, agents are circling. Luke and Ryan talk about how tricky it is to figure out who to trust.
They warn about agents who want a big chunk of every deal. Athletes need to keep control over their own money and decisions, or things can go sideways fast.
Building a Strong Support Network
Both brothers agree: you need people in your corner. They say athletes have to see themselves as business owners and act accordingly.
If you pick the right advisors, you’re way more likely to avoid the usual traps that come with NIL.
The Future of NIL
NIL isn’t going anywhere. It’s only going to get bigger and messier, honestly.
The Montgomerys’ stories are a heads-up for other athletes. Their focus on financial smarts and building a solid crew around you—yeah, that’s probably the only way to survive and actually thrive in this new world.
Conclusion
Luke and Ryan Montgomery, together with Dane Burkholder, really dig into how NIL is changing college football. Their stories bring up how crucial it is for young athletes to understand money early on.
They talk about making smart choices, not just with cash, but with who you trust. It’s not always easy figuring all this out, honestly.
NIL keeps shifting the game, and athletes have to keep up. No one wants to look back and wish they’d done things differently.
Curious for more? You can catch the whole conversation and get extra details by checking out the original article on 247Sports.
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