Rick Pitino helping St. John's players navigate NIL challenges

The ever-changing world of college basketball, where Name, Image & Likeness and the transfer portal have become vital parts of any high-major program’s success, hasn’t scared off Rick Pitino.

One prime example: The 71-year-old, Hall of Fame coach recently brought in Jim Riley, a St. John’s alum and recently retired partner and managing director from Goldman Sachs New York, to speak to the team about finances and how to handle their money. , Tuesday night against Stony Brook at Carnesecca Arena. “Basically, how you should save, investing and how money is compounded. … This is a new world for these guys, paying taxes, making money. Hopefully, it won’t stop.”For most players, the money they receive through NIL goes to help support their families or serves as spending money.

“I would like some of them to understand that if you put money in the bank today, you get 5 percent,” Pitino said. “ talked all about that, how money doubles every eight or nine years. These guys were very attentive. This group is not only highly intelligent, but they want to learn about those things and they want to know about those things. Jim did a great job for us. He’s a St. John’s alum, he’s a big basketball backer and we were excited that he could come in and share his knowledge.

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