07/21/2023
Hate to see it, but glad Bloomberg is taking notice and calling out some of the nonsense going on. Couple takeaways:
(1) There's a lot of marketplaces collecting exorbitant commissions from athletes. Not all in the 40% range, but plenty in the 20%-30% range. Not reasonable.
(2) Unfortunately bad actors scamming too many athletes with deals arranged through social media (i.e., checks bouncing).
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Savannah Schoenherr was fresh off a second-place team finish at the NCAA gymnastics championship last year when a business opportunity hit her inbox: A New York clothing brand offered her $1,500 to model its apparel.