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How name, image and likeness is shaking up college football

KNOXVILLE, Tenn. (WVLT) – There’s no “I” in “team,” but there’s three in “millionaire” and one big one in NIL, or Name, Image and Likeness. It’s a system that’s causing headaches for coaches and putting money in student athlete pockets. Since coming on the scene, NIL deals have created confusion and turned college sports into, […]

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KNOXVILLE, Tenn. (WVLT) – There’s no “I” in “team,” but there’s three in “millionaire” and one big one in NIL, or Name, Image and Likeness. It’s a system that’s causing headaches for coaches and putting money in student athlete pockets.

Since coming on the scene, NIL deals have created confusion and turned college sports into, for all intents and purposes, a professional sports league. This early into its implementation, the NIL world is also the wild west.

“It’s just so vastly different,” WVLT contributor and staple of the Volquest staff Brent Hubbs said. “We’re all trying to get our hands on the landscape, and it’s a landscape that keeps changing seemingly every year, and at this point, nothing seems really unimaginable, if you will.”

NIL was originally implemented to supplement student athlete scholarships, but as more money has come into the world of college football, student paychecks are getting bigger and bigger. In some ways, it’s created a sense of entitlement for some players.

Previous Coverage: ‘No one is bigger than the Power T’ | Tennessee parts ways with Nico Iamaleava

Most recently, the University of Tennessee went through that with the departure of Nico Iamaleava. The player recently parted ways with Tennessee after reports that he was unhappy with his pay.

ESPN’s Chris Low, who broke the news about Iamaleava, said part of the issue is the lack of regulation when it comes to what a player is worth.

“You tell me what fair market value is,” he said. “You get 40 people together. They’re going to give you different definitions of what fair market value is.”

Head Coach Josh Heupel went on the record after a Nico Iamaleava-less Orange and White game to confirm the university was moving on from the quarterback. He also spoke about the obstacles of recruiting in 2025.

“You’re looking at the physical traits and playing style of the player. You’re looking at the developmental plan, right?” he said. “You try to find the right guy at the right time and right price.”

Those last two words — right price — make all the difference.



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USC National Player of the Year JuJu Watkins Adds New NIL Partnership

USC guard JuJu Watkins had a sophomore season for the record books. The consensus National Player of the Year and All-American led the Women of Troy to a 31-4 record and No. 1 seed in the NCAA Tournament, while continuing to set the pace as one of the most prolific college athletes in NIL. With […]

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USC guard JuJu Watkins had a sophomore season for the record books. The consensus National Player of the Year and All-American led the Women of Troy to a 31-4 record and No. 1 seed in the NCAA Tournament, while continuing to set the pace as one of the most prolific college athletes in NIL.

With historic brand partnerships — such as Nike, State Farm and Gatorade — a documentary series on NBC, celebrity fans like Snoop Dogg and murals throughout Los Angeles, Watkins is the face of the sport.

While her season ended with an ACL tear during the NCAA Tournament second round against Mississippi State, Watkins is already on the road to recovery for a return to basketball.

As she continues to grow her NIL portfolio even while out with injury, Watkins has added a new partnership with Pottery Barn Teen that has offered her the chance for an apartment makeover. Earlier this school year, she collaborated with the brand to create her dream college apartment that mirrors her own minimalist style.

Her updated living space also features some keepsakes from this past season and her NIL footprint, including game balls from some of her record performances, trading cards from her Fanatics and Topps partnership, signed pairs of Nike sneakers and her own Funko figurine.

JuJu Watkins for Pottery Barn Teen

JuJu Watkins for Pottery Barn Teen / Pottery Barn Teen

“I feel like I’m constantly evolving and liking new things, but one thing that’s always stayed is simplicity,” Watkins shared. “I usually give my trophies to my mom, so it’s cool to have a display of my accomplishments.”

Watkins has been one of the strongest athlete brands in NIL since her high school days at Sierra Canyon (Chatsworth, CA.) and that has only increased since moving onto USC.

With 1.5 million followers across her Instagram and TikTok and engaging branded content from her NIL partnerships, Watkins has earned a 95 “O2W Score” from Out2Win – the leading AI-powered athlete marketing intelligence platform – the second highest in all of college basketball.

This O2W Score is a proprietary algorithm measuring an athlete’s influence, engagement and overall brand potential. Watkins has strong scores in each, matching her on-court dominance.

Without Watkins, USC’s season ended in the Elite Eight to eventual National Champion UConn. While recovering, she will continue to be the face of the sport and has the opportunity to continue to expand her personal narrative, while supporting the Women of Troy in a bounce back season next year.



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Forbes 2025 World's 10 Highest

Whether Cristiano Ronaldo is soccer’s GOAT is up for debate, but he turned in an all-time earnings year with $275 million, leading 10 superstars who collectively hauled in $1.4 billion. For the third year in a row, and the fifth time overall, Cristiano Ronaldo is the world’s highest-paid athlete. But at age 40, the Portuguese […]

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Forbes 2025 World's 10 Highest

Whether Cristiano Ronaldo is soccer’s GOAT is up for debate, but he turned in an all-time earnings year with $275 million, leading 10 superstars who collectively hauled in $1.4 billion.


For the third year in a row, and the fifth time overall, Cristiano Ronaldo is the world’s highest-paid athlete. But at age 40, the Portuguese soccer superstar is reaching new highs. Over the past 12 months, counting both his playing salary at Saudi Arabia’s Al-Nassr and his off-field business endeavors, Ronaldo collected an estimated $275 million before taxes and agent fees—the third-best year by an active athlete ever measured by Forbes.

On that all-time list, Ronaldo is surpassed only by boxer Floyd Mayweather, who earned $300 million in 2015 and $285 million in 2018. And when it comes to the 2025 leaderboard, Ronaldo has a $119 million advantage over No. 2, Golden State Warriors guard Stephen Curry.

The gap is especially impressive considering that Curry’s $156 million total is also a record for his sport, beating the NBA mark of $128.2 million set last year by LeBron James. And there are plenty of other eye-popping paydays among this year’s 10 highest-paid athletes, starting with James, who notched a personal-best $133.8 million to land at No. 6. Meanwhile, Dallas Cowboys quarterback Dak Prescott (No. 4, $137 million) and New York Mets outfielder Juan Soto (No. 7, $114 million) broke records for the NFL and MLB.

Combined, the 10 highest-paid athletes brought in $1.4 billion, up slightly from last year’s $1.38 billion and the largest total since Forbes began ranking athlete earnings in 1990. This year is also only the second time, after 2024, that every member of the top 10 made at least $100 million. In fact, heavyweight boxing champion Oleksandr Usyk ($101 million) and golfer Jon Rahm ($100 million) reached the milestone, too, without managing to crack this list.


World’s Highest-Paid Athletes 2025

VIEW THE FULL LIST


Two athletes—Curry and Los Angeles Dodgers two-way phenom Shohei Ohtani (No. 9, $102.5 million)—hit nine figures over the past 12 months with their off-field earnings alone, racking up an estimated $100 million each from endorsements, appearances, memorabilia and licensing fees. Only three other athletes have ever matched that feat while still active in their sports, according to Forbes estimates: MMA fighter Conor McGregor ($158 million in 2021), golfer Tiger Woods ($105 million in 2009) and tennis player Roger Federer ($100 million in 2020).

Neither Curry nor Ohtani has any known business connection to Saudi Arabia, which makes them something of an outlier for athletes in their income bracket. Three years after the kingdom shook up the sports landscape with the creation of LIV Golf, four members of the 2025 top 10 have significant ties to Saudi Arabia. Tyson Fury (No. 3, $146 million) fought Usyk twice in Riyadh while Lionel Messi (No. 5, $135 million) has a massive sponsorship deal to promote the country as a tourist destination, making up a significant chunk of his estimated $75 million in off-field earnings. And Karim Benzema (No. 8, $104 million) is based full time in Saudi Arabia, as a striker for soccer club Al-Ittihad.

Then, of course, there is Ronaldo, who has played in the Saudi Pro League for two and a half seasons—and earns an estimated $225 million on the field annually for doing so.

His paychecks demonstrate just how much this ranking has been supercharged. When he first grabbed the top spot, in 2016, his total was $88 million, and he boosted the number to $93 million a year later. Now, neither figure would place any higher than 14th among the world’s highest-paid athletes—and the sum of the two would still be $94 million short of Ronaldo’s big score this year.

His ascent may not be done yet, either. While Ronaldo’s contract with Al-Nassr is believed to expire this summer, rumors suggest that he may sign an extension with the club—or perhaps seek a lucrative deal elsewhere.


The World’s 10 Highest-Paid Athletes


#1 • $275M

Cristiano Ronaldo

Sport: Soccer | Age: 40 | Nationality: Portugal | On-Field: $225 million | Off-Field: $50 million

With a goal for the Portuguese national team in a UEFA Nations League match in September, Ronaldo became the first soccer player to score 900 times in official matches. He has been even busier away from the pitch, however. Over the past year, the Al-Nassr striker has added investments in wearable tech company Whoop, porcelain manufacturer Vista Alegre and supplement brand Bioniq. Then, in April, Ronaldo revealed he was creating a film studio as a joint venture with Matthew Vaughn, the writer and director of the Kingsman movies. Ronaldo has also extended into media in other ways, launching a YouTube channel in August that already has 75 million subscribers—on top of his 939 million followers across Instagram, Facebook and X. In addition to posting videos chronicling his experience at Paris Fashion Week and collaborations with top creator MrBeast, he turned his channel into a broadcaster in February, streaming a padel tournament in Riyadh. More than 600,000 viewers reportedly tuned in.


#2 • $156M

Stephen Curry

Sport: Basketball | Age: 37 | Nationality: U.S. | On-Field: $56 million | Off-Field: $100 million

In 2023, Curry signed a long-term deal to extend his sneaker deal as the face of Under Armour’s Curry Brand well beyond his playing days, and it came with a major step-up in his pay—without even taking into account the $75 million in stock compensation he is set to receive, vesting in 2029 and 2034. The Golden State Warriors guard, who in March became the first NBA player to reach 4,000 career 3-pointers, is putting up plenty of other shots off the court as well. In the last year, he has invested in Nirvana water and the upstart women’s basketball league Unrivaled, teamed up with former first lady Michelle Obama to launch a sports drink brand called Plezi Hydration and accepted a role as assistant general manager for the basketball programs at his alma mater, Davidson College. And in a partnership with Peacock through his film and TV company Unanimous Media, Curry produced the documentary Sentenced and produced and starred in comedy series Mr. Throwback (although it was canceled after one season). On the court, Curry signed a one-year, $62.6 million extension in August that ties him to the Warriors through the 2026-27 season and has him poised to lead the NBA with his salary for the life of the deal.


#3 • $146M

Tyson Fury

Sport: Boxing | Age: 36 | Nationality: U.K. | On-Field: $140 million | Off-Field: $6 million

Fury’s enormous earnings total may ease his pain—literal and figurative—after a tough year in the ring. Previously unbeaten in 35 professional fights, the charismatic heavyweight champion lost his WBC title in a split decision defeat to Oleksandr Usyk last May, and he dropped the rematch by unanimous decision in December. A month later, Fury said on social media that he would retire from the sport at age 36—although the news was tempered somewhat by multiple previous retirement announcements over the course of his career. (After a 2022 victory over Dillian Whyte, for instance, Fury said that “no amount of money” could lure him back to the sport.) Outside the ring, the boxer known as the Gypsy King has a partnership to promote tourism to Malta, where he held his training camp for the second Usyk fight, and he has a Netflix reality show called At Home With the Furys. A second season has not been officially announced, but Fury was spotted filming last year.


#4 • $137M

Dak Prescott

Sport: Football | Age: 31 | Nationality: U.S. | On-Field: $127 million | Off-Field: $10 million

A four-year, $240 million extension with the Dallas Cowboys in September gave Prescott NFL records for average annual contract value ($60 million) and guaranteed money ($231 million), as well as the largest upfront payment in league history with his $80 million signing bonus. However, he ranks this highly among the world’s highest-paid athletes thanks to a quirk in the calendar and the NFL salary system. In March, the quarterback agreed to restructure his contract to free up salary-cap space for the Cowboys, converting $45.75 million of his base salary for 2025 into a signing bonus—and getting the money into his pocket quicker. The move essentially means Prescott is collecting two seasons of paychecks in the 12-month window covered by the athlete earnings ranking. Off the field, Prescott has one of the best sponsor stables in football, working with companies including Nike’s Jordan Brand, Dick’s Sporting Goods and Lowe’s, and he has been collaborating with a Crunch Fitness franchisee to open new locations in Texas.


#5 • $135M

Lionel Messi

Sport: Soccer | Age: 37 | Nationality: Argentina | On-Field: $60 million | Off-Field: $75 million

Perhaps no male athlete in the world means more to his league than Lionel Messi does to Major League Soccer, which has seen revenue and team valuations jump thanks to the “Messi Effect.” (In one sign of his unique position, MLS streamed his playoff games last year with a Messi Cam, trained solely on him.) Worryingly for the league, Messi’s contract with Inter Miami is set to expire this year, but the reigning MVP has reportedly been negotiating an extension to stay with the team. Messi, who received the Presidential Medal of Freedom in the final days of the Biden administration, may also be looking for an honor in his native Argentina: His Inter Miami teammate Luis Suárez recently claimed that Messi was hoping to play in the World Cup next year. Off the pitch, Messi’s lucrative endorsement deals include Adidas, which released a shoe collaboration between the soccer star and musician Bad Bunny in October, and he founded a production company called 525 Rosario in September, with plans for a sci-fi animated show featuring a 12-year-old Leo. Last year, Messi also announced that he was launching his own sports drink, named Mas+, although the brand has been locked in a legal battle with Logan Paul’s Prime Hydration over similarities in the bottles’ design.


#6 • $133.8M

LeBron James

Sport: Basketball | Age: 40 | Nationality: U.S. | On-Field: $48.8 million | Off-Field: $85 million

After his 22nd NBA season ended with his Los Angeles Lakers being ousted in the first round of the playoffs—and with a decision looming on whether to pick up his $52.6 million player option for 2025-26—the 40-year-old James has floated the possibility that he might retire. “I’ll take some vacation time with the family,” the oldest current NBA player said recently on his podcast Mind the Game, “and see what this next journey looks like.” Whenever he decides to hang up his sneakers, the 21-time All-Star will have a business empire already in place. One of only two active athletes to have become billionaires, alongside Tiger Woods, James is the cofounder of entertainment development and production company SpringHill. The business lost $28 million on sales of $104 million last year, according to Bloomberg, but it is targeting profitability after a merger with the U.K.’s Fulwell 73 that reportedly came with a $40 million fundraise from existing investors. James is also an investor in tequila maker Lobos 1707, which sold a majority stake to spirits giant Diageo this year in a deal for the brand rights to Cîroc vodka. Among his more traditional partnerships, James has struck a deal with Mattel to become the first professional athlete with a Ken doll in his likeness.


#7 • $114M

Juan Soto

Sport: Baseball | Age: 26 | Nationality: Dominican Republic | On-Field: $109 million | Off-Field: $5 million

A five-time Silver Slugger Award winner before he turned 26, Soto was always destined to sign a huge playing contract, but even against those heightened expectations, the 15-year, $765 million deal he signed with the New York Mets in December was a stunner. (At the time, only one other contract in the sport had topped $500 million, and that was Shohei Ohtani’s 10-year, $700 million deal with the Los Angeles Dodgers, which deferred all but $20 million for at least a decade.) Within days of Soto’s signing, the Mets’ ticket sales “exploded,” to use billionaire team owner Steve Cohen’s terminology, with club-record single-game numbers and a boost to the season-long base. Soto will also benefit beyond his paychecks thanks to perks including a luxury suite and premium tickets to home games and personal security guards. And he still has his endorsement deals, with partners including Celsius energy drinks, the video game Call of Duty and two companies based in his native Dominican Republic, Banreservas bank and Presidente beer.


#8 • $104M

Karim Benzema

Sport: Soccer | Age: 37 | Nationality: France | On-Field: $100 million | Off-Field: $4 million

Benzema followed his onetime Real Madrid teammate Cristiano Ronaldo to Saudi Arabia in 2023, getting a huge raise to sign with the Saudi Pro League’s Al-Ittihad, but rumors now suggest the French striker could take his next cue from Ronaldo’s archrival, Lionel Messi. Citing anonymous sources close to Benzema—who is just a couple of years removed from being recognized as the world’s best male soccer player, as the winner of the 2022 Ballon d’Or—the New York Post recently reported that he was plotting a move to MLS ahead of the 2026 World Cup, which will be played in North America. Off the field, Benzema largely stays out of the limelight, working with a select group of sponsors, including Adidas. In an interview with Spanish TV channel Mega, he acknowledged that he preferred a low-key life in Madrid to his fame in Saudi Arabia, saying that in Spain, “sometimes I go out for dinner or go to the beach. Here, you can’t walk in the street—people are crazy about football.”


#9 • $102.5M

Shohei Ohtani

Sport: Baseball | Age: 30 | Nationality: Japan | On-Field: $2.5 million | Off-Field: $100 million

After deferring all but $2 million annually from his mega-contract with the Dodgers—he’ll collect $68 million a year starting in 2034—Ohtani got a disproportionately large boost from Los Angeles’ run to the World Series last year. MLB players receive shares of a postseason bonus pool depending on how far their team goes, so in addition to a championship ring featuring sapphires and diamonds in the Dodgers’ familiar blue and white, Ohtani got to take home a check for a reported $477,441. That is chump change, of course, next to his lucrative endorsement deals. Ohtani, who is the reigning National League MVP as a designated hitter and hopes to return to pitching this season as well, works with companies based on both sides of the Pacific, including New Balance and Beats by Dre in the U.S. and Kose skincare and Seiko watches in his native Japan. In March, seven months after he signed an exclusive global trading card deal with Topps, an auction featured a unique card with Ohtani’s autograph and the logo from the pants he was wearing when he completed MLB’s first season with 50 home runs and 50 stolen bases. Including the buyer’s premium, the sale price was $1.07 million.


#10 • $101.4M

Kevin Durant

Sport: Basketball | Age: 36 | Nationality: U.S. | On-Field: $51.4 million | Off-Field: $50 million

Durant had a career highlight in February when he became only the eighth NBA player ever to reach 30,000 regular-season points. The rest of the season was tougher, however, as the high-priced Phoenix Suns stumbled to 11th place in the Western Conference, missing the playoffs and fueling speculation that Durant could be traded this summer. (The 15-time All-Star has one season remaining on his contract, for $54.7 million.) Luckily, Durant has had plenty of other wins, starting with an Olympic gold medal in Paris last summer with a performance that made him Team USA’s career scoring leader at the Summer Games. In August, he acquired a stake in French soccer team Paris Saint-Germain through investment fund Arctos Sports Partners, and he has since invested in sports apparel brand Homage. Meanwhile, Durant’s media company, Boardroom, recently unveiled a premium membership model and is partnering with Fanatics to launch a professional development program for athletes. Durant will also appear in Season 2 of the Netflix docuseries Starting 5, which is expected to be released later this year.


METHODOLOGY

Information about the methodology Forbes uses to compile this list, which captures income the athletes collected between May 1, 2024, and May 1, 2025, can be found here.

With additional reporting by Justin Birnbaum.

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EXEC

Dick’s Sporting Goods, Inc. and Foot Locker, Inc. have confirmed the news that the companies have entered into a definitive merger agreement under which Dick’s SG will acquire Foot Locker. This transaction implies an equity value of approximately $2.4 billion and an enterprise value of roughly $2.5 billion. “Foot Locker has a strong history of […]

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EXEC

Dick’s Sporting Goods, Inc. and Foot Locker, Inc. have confirmed the news that the companies have entered into a definitive merger agreement under which Dick’s SG will acquire Foot Locker. This transaction implies an equity value of approximately $2.4 billion and an enterprise value of roughly $2.5 billion.

“Foot Locker has a strong history of sneaker expertise that sparks discovery and ignites the power of sneaker culture through its portfolio of brands, including Foot Locker, Kids Foot Locker, Champs Sports, WSS, and Atmos,” the companies said in a media release announcing the deal. “Foot Locker encompasses approximately 2,400 retail stores across 20 countries in North America, Europe, Asia, Australia, and New Zealand, and a licensed store presence in Europe, the Middle East and Asia. In 2024, Foot Locker achieved net worldwide sales of $8 billion.”

Dick’s SG said it expects to operate Foot Locker as a standalone business unit within its portfolio and maintain the Foot Locker brands.

“We have long admired the cultural significance and brand equity that Foot Locker and its dedicated Stripers have built within the communities they serve, said Ed Stack, executive chairman of Dick’s Sporting Goods, Inc. “We believe there is a meaningful opportunity for growth ahead. By applying our operational expertise to this iconic business, we see a clear path to further unlocking growth and enhancing Foot Locker’s position in the industry. Together, we will leverage the complementary strengths of both organizations to better serve the broad and evolving needs of global sports retail consumers.”

The international landscape is changing rapidly of late, with key Foot Locker competitor, UK-based JD Sports, fast expanding in the U.S. through its acquisitions of Hibbett Sports, Finish Line, DTLR, and Shoe Palace, and continued acquisitions across Europe as it works to integrate its subsidiaries under the JD name, including Finish Line.

Last month SGB Media commented that the latest moves by JD Sports and its cross-town rival Frasers Group, which owns the Sports Direct business along with several other sports and outdoor retail brand names, sounded like the UK was putting the old colonial empire back together as the two engaged in global expansion to become the leading worldwide sports retailer.

While JD has focused on the U.S. and Europe, Frasers appears to be focused on former British colonies in the Middle East, South Africa and the South Asia Pacific regions. Frasers established a foothold in the U.S. market by acquiring Bob’s Stores and Eastern Mountain Sports but abandoned that strategy.

Now comes the colonists, with Dick’s Sporting Goods fighting the good fight to protect the motherland from the ambitions of the crown while offering a new global vision for the Dick’s Sporting Goods and Foot Locker brands. This deal sets up a sporting goods and athletic footwear behemoth that would suggest that Ed Stack has his own “Make America Great Again strategy to lead in the global marketplace. As the tariff fight started by U.S. President Donald Trump has shown, there is strength in numbers, and the ability to negotiate pricing with vendors and factories has become paramount in a company’s growth and profitability going forward.

“We look forward to welcoming Foot Locker’s talented team and building upon their expertise and passion for their business, which we intend to honor and amplify together, said Dick’s SG President and CEO Lauren Hobart. “Sports and sports culture continue to be incredibly powerful, and with this acquisition, we’ll create a new global platform that serves those ever-evolving needs through iconic concepts consumers know and love, enhanced store designs and omni-channel experiences, as well as a product mix that appeals to our different customer bases.”

Mary Dillon, CEO of Foot Locker, Inc., said the deal marks the start of an exciting new chapter for Foot Locker and is a testament to the team’s hard work and dedication to the mission.

“By joining forces with Dick’s, Foot Locker will be even better positioned to expand sneaker culture, elevate the omni-channel experience for our customers and brand partners, and enhance our position in the industry, Dillon said. “We are pleased to provide shareholders with a transaction structure that offers the choice of significant and immediate cash value or the opportunity to invest in the combined company and benefit from the substantial upside potential. I am proud of all that our teams around the world, including our Stripers, have accomplished to reach this milestone moment, and am confident this transaction represents the best path for our shareholders and other stakeholders.

The proposed acquisition represents an important strategic milestone for Dick’s whereby the combined company offers significant strategic and financial benefits:

  • Create a global platform within the growing sports retail industry. The transaction will better position the combined company to serve consumers worldwide and expands Dick’s addressable market opportunity. By combining with Foot Locker, Dick’s will be poised to serve consumers not only in new locations in the U.S. through Foot Locker’s complementary real estate portfolio, but also internationally for the first time. With strong long-term industry tailwinds, the combined company is well-positioned for long-term growth.
  • Serve a broader set of consumers across differentiated concepts. Iconic concepts will cater to a wide range of consumers, from performance-focused athletes to sneakerheads. Building upon the learnings from Dick’s House of Sport and Foot Locker’s Reimagined Concept stores, the combined company will provide an immersive retail experience.
  • Strengthen relationships with brand partners through global reach. Together, Dick’s and Foot Locker will serve as a stronger partner for key brands, offering multiple platforms for established and emerging partners to showcase product, connect with athletes and increase visibility on a global scale.
  • Invest in future growth through an omni-channel experience. Dick’s has a history of growth and aims to invest in and monetize the Foot Locker brand and position the combined company for long-term success. The combination will drive profitability through differentiated store concepts and digital experiences, enabling sustainable long-term profit.
  • Unlock operational efficiencies that create shareholder value. Dick’s expects the transaction to be accretive to EPS in the first full fiscal year post-close, which excludes transaction and other one-time costs to achieve synergies, and to deliver between $100 million to $125 million in cost synergies in the medium-term achieved through procurement and direct sourcing.

Additional Transaction Details
Under the terms of the merger agreement, approved unanimously by the Boards of Directors of Dick’s Sporting Goods and Foot Locker, Foot Locker shareholders will elect to receive either $24.00 in cash or 0.1168 shares of Dick’s common stock for each share of Foot Locker common stock. The election is not subject to a minimum or maximum amount of cash or stock consideration.

Based on the closing price of Foot Locker common stock on May 14, 2025, the $24.00 per-share consideration represents a premium of approximately 66 percent to Foot Locker’s 60-trading-day volume-weighted average price. The total consideration represents an acquisition multiple of approximately 6.1x fiscal 2024 adjusted EBITDA.

Dick’s SG intends to finance the acquisition through a combination of cash-on-hand and new debt. The transaction is subject to Foot Locker shareholder approval and other customary closing conditions, including regulatory approvals, and is expected to close in the second half of 2025.

Goldman Sachs is serving as financial advisor to Dick’s and provided fully committed bridge financing. Wachtell, Lipton, Rosen & Katz is serving as Dick’s legal advisor. Evercore serves as Foot Locker’s financial advisor, and Skadden, Arps, Slate, Meagher & Flom LLP is Foot Locker’s legal advisor.

Image courtesy Fox News Corp.

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How college basketball’s wave of European imports rose from a recruiting sea change

Miško Ražnatović went to his first Final Four in April. A few years ago, the trip to college basketball’s ultimate networking event would have been a waste of time for the agent of Nikola Jokić; most of the young players Ražnatović represents would never have considered coming from overseas to play for a university in […]

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Miško Ražnatović went to his first Final Four in April. A few years ago, the trip to college basketball’s ultimate networking event would have been a waste of time for the agent of Nikola Jokić; most of the young players Ražnatović represents would never have considered coming from overseas to play for a university in the United States. But over four days in San Antonio, he had 70 meetings. Next season Ražnatović will likely represent between 35 and 50 college players.

“(Ražnatović) used to not even pick up the phone for the NCAA before,” said Dražen Zlovarić, a former college player and coach who is the director of North American basketball for BeoBasket, the Serbia-based agency Ražnatović runs. “It’s basically fair game for everybody now. Like the guys that you never think would come to college are actually coming to college.”

The reason is obvious: Money. College basketball’s top talents will earn seven-figure salaries next season, and most of the European players who are rushing over the Atlantic to cash in will be leaving behind five-figure salaries.

“They can make in one season what they can make in half of their career by going to college,” said Avi Even, the former sports director for Maccabi Tel Aviv B.C. who recently became the director of basketball operations for the overseas basketball agency Octagon Europe. “So there’s no reason for them to stay here.”

Programs like Gonzaga, Davidson and Saint Mary’s recruit internationally on an annual basis and have carved out a niche in college basketball’s talent market over the past few decades. In recent years, more schools have explored their options overseas, but it was still difficult to convince the best prospects — particularly those connected to teams in the EuroLeague, the continent’s highest level of competition — to leave.

The traditional route for these players has been to start with a professional franchise’s youth program at an early age. The franchises employ coaches to work with those players, often house and feed them in their teenage years and see the payoff when they eventually play for the top team. But in the past 18 months, permissive NCAA eligibility rulings, opportunistic agents and rising pools of name, image and likeness money have combined to open the floodgates.

International prospects from some of the top professional leagues in the world are about to become household names at preseason Top 25 programs like Louisville, Kentucky and Purdue. Ražnatović will represent four players on Illinois’ roster alone, including 22-year-old Serbian point guard Mihailo Petrović, who was an MVP candidate in the Adriatic League playing for KK Mega Basket, the professional club owned by Raznatović’s agency.

The result is an increasingly global flavor to college basketball that figures to be even more noticeable in 2025-26.

“Name the five best players in the NBA, and look where they’re from,” Illinois coach Brad Underwood said. “I just think that we continue to follow that path, the NBA path, and then it trickles down.”

“What would Luka (Dončić) have done as an 18-year-old given the opportunities that would be presented to him now?” Creighton coach Greg McDermott said. “Would he be coming and playing a year of college? Who knows?”



After contributing at Kentucky and Arkansas, Zvonimir Ivišić will be one of multiple European players on Illinois’ roster next season. (Steve Roberts / Imagn Images)

As an assistant at Gonzaga in the summer of 2014, Tommy Lloyd got a message from the brother of Lithuanian freshman Domantas Sabonis, asking for wire information so that the family could send money to pay for Sabonis’ rent.

“No, no guys,” Lloyd remembered saying. “He’s on scholarship. He’s on a full ride.” Housing would be covered.

The players who came to play college basketball in the United States then had different priorities. Sabonis was an outlier. Because of his family’s wealth — his father, Arvydas, is one of the greatest international players ever and played seven seasons in the NBA — Sabonis had the luxury of taking a path where money wasn’t a determining factor.

Even when the NCAA loosened its restrictions on NIL rights in 2021, there was some uncertainty on how international prospects would benefit from the opportunity to make money. The F-1 student visa used by many college athletes coming from abroad allows international students to study in the U.S., but they cannot work off campus. Schools like Kentucky found workarounds: 2022 national player of the year Oscar Tshiebwe fulfilled NIL deals his visa wouldn’t allow while off of American soil. International players can also make money by licensing their NIL rights to their schools.

Another uncertainty concerned whether players had lost their amateur status under the terms of their relationship with professional clubs in European leagues. To maintain NCAA eligibility, players can only have received “actual and necessary expenses” — lodging, travel, meals, etc. — and nothing further from teams they played for prior to college. Most coaches would have been hesitant to recruit a player like Croatian center Zvonimir Ivišić, who started playing professionally at 16 and enrolled two years ago at Kentucky.

“He was really the guy that opened up the floodgates because nobody thought it was really possible,” Zlovarić said of Ivišić, who didn’t get cleared to play until the 17th game of the 2023-24 season. “After that, man, it was like everybody wanted to come over.”

And then there was the belief that college basketball wasn’t the best pathway for top international players’ development. Phillip Parun, an agent for Octagon, has often posed the question to college coaches: Which European players went to college and then made the NBA? He can list most of the recent examples off the top of his head — Sabonis, Lauri Markkanen, Svi Mykhailiuk, the Wagner brothers, Jeremy Sochan, Killian Tillie.

Now compare that to the number of international players selected in the last 10 NBA Drafts who did not go the college route: 92. (Thirty-four of those players have yet to play a minute in the NBA.)

Valentin Le Clezio, an agent with Wasserman, says it’s still best for players who are a year or two away from getting drafted to stay abroad. “College coaches are the best liars on the planet, so you always want to minimize the risk,” Le Clezio said.

But that line of thinking could change if imports enjoy the kind of success that Kasparas Jakučionis and Egor Demin just experienced in their one-and-done college seasons.

Jakučionis played with FC Barcelona’s second team last year, appearing in just one EuroLeague game for the club’s top team. After earning second-team All-Big Ten honors at Illinois, he’s projected to be a lottery pick this June. Demin starred for Real Madrid’s Under-18 team in 2023-24. After one year at BYU, he’s also projected to go in the first round.

Le Clezio estimates that between 60 to 80 college programs were represented at the Under-18 European Championships last summer.

“When you watch a game before (at those events), there was only one or two guys on each team that were high-major players that were going to go to college,” Michigan coach Dusty May said. “Now the entire team is open to college if the situation’s right.”

Underwood said Illinois keeps a scouting database with just about every player in every age group overseas.

“Now with the money, everybody has interest,” Le Clezio said. “Everybody feels like we can get the best kids here.”

Relationships still matter, but NIL offers can close the gap, and international players do not care as much about a school’s name recognition.

“A lot of times over here, some guys are a little scatterbrained on what’s important to them, whether it’s style of play, location, whatever,” said Florida coach Todd Golden, who just won the national championship with a starting power forward from Australia, a Nigerian center and a Slovenian guard coming off the bench. “Whereas (international) guys are coming over strictly to focus on basketball and being part of a program where they feel like they can grow and get better. There’s a little less of bells and whistles in their recruiting process.”

Petrović and David Mirkovic didn’t even visit Illinois before committing. Underwood was in Serbia last week watching Petrović play live for the first time.

As the college option becomes more enticing, pro teams abroad feel mostly helpless in the fight to retain talent. EuroLeague sports directors — the analog to general managers in American sports — are frustrated to be losing rotation players to the college ranks.

Some of these breakups have been very public. Dame Sarr, who was in the rotation for FC Barcelona, one of the top clubs in Europe, traveled to the Nike Hoops Summit in Portland last month without his club’s approval. Sarr and FC Barcelona eventually agreed to part ways, and he’s expected to eventually sign with a college team. (He has long been linked with Duke and recently visited Kansas.)

Other recruitments are happening in the shadows. Take Elias Rapieque, a 21-year-old forward for Alba Berlin who grew up playing for its junior team, averaged 15 minutes per game during EuroLeague play this year and is currently helping Alba Berlin try to qualify for the Basketball Bundesliga playoffs. Alba Berlin sports director Himar Ojeda says he found out during the middle of this season that Rapieque was being recruited by colleges.

“No matter how much I like the youngest guy and how much I’m willing to play him, it’s unrealistic that I can pay this guy nothing close by far. By far!” Ojeda said. “So there’s no way we can compete. No one can do it.”



Russian-born point guard Egor Demin, who spent last season at BYU, is a likely first-round pick. (Isaiah J. Downing / Imagn Images)

Bringing some of the best young international talent to college basketball is great for college basketball, but is it good for the overall health of the game worldwide? Similar to NIL and the transfer portal, this is a development the NCAA wasn’t exactly ready for.

As far back as February 2024, NCAA officials, conference commissioners, USA Basketball and representatives from FIBA have discussed how to create a clearer transaction process for players who are leaving teams in Europe to come play college basketball. In the current framework, most players are able to get out of their contract because they can say they’re leaving for academic reasons.

“The reality is they’re not going there for academic reasons; they’re going because they will get a nice chunk of money on top of a good basketball development,” says Thorsten Leibenath, the sports director for Ratiopharm Ulm in Germany.

It’s been a disruption to the system for these professional franchises, which use their youth programs to develop their own talent. Omer Mayer, an 18-year-old guard from Tel Aviv, Israel, was one of those players. Mayer was the best young prospect in Maccabi Tel Aviv’s system, who started in the youth program when he was 12 and played in EuroLeague games each of the last three seasons. Even, the club’s former sports director, says Mayer was the “next face of the club” — but last month he committed to Purdue.

Had Mayer left for another club in Europe or stayed with Maccabi Tel Aviv and eventually been drafted, his next club would have been required to pay Maccabi Tel Aviv for his transfer. The current rate for an NBA franchise is $875,000. Some franchises will choose to wait out a player’s contract overseas so that it’s not required to pay the buyout, a “draft and stash” tactic especially popular for second-round picks. Mayer was able to get out of his contract to go to Purdue by paying a small buyout, the amount of which was added to his agreed-upon amount with Purdue’s collective. If he does one day get drafted, Maccabi Tel Aviv will not receive a dime.

“This is where European teams struggle,” Leibenath said. “And this is where you would have to ask the question, why do we do this if we continue to not get any kind of revenue out of that or at least compensation? There’s nothing in it for us.”

Parun has proposed what he thinks could be the solution: The international club loans their players out, retains their rights and gets a small percentage of a player’s earnings while on loan, a system similar to the one soccer has internationally. Leibenath believes FIBA needs to be involved.

“In my eyes colleges nowadays are run like pro teams,” Leibenath said. “They pay their players like pro teams. They make revenue like pro teams. If you consider them pro teams, it would make life a lot easier.”

It would also benefit everyone involved if the NCAA would adjust the wording of its requirement that only amateurs are eligible. As it stands, the organization has found policing the gray area difficult.

“People know now I think even more so than they did obviously two or three or five years ago, if you can produce documentation that only shows that an athlete only received actual necessary expenses, that’s basically all you need,” said a former NCAA employee, given anonymity so he could speak with candor on how the process really works. “If there’s no other conflicting materials or anyone that can go on the record that has any type of real evidence to show that the club did anything improper, then it’s just a matter of time getting through the system that that kid is eligible.”

Without subpoena power, the NCAA is rendered helpless in these cases. And why even try when college basketball players are now making money like professionals?

“Five years ago, none of these guys were getting eligible,” McDermott said. “There was no chance, but because of everything that’s happened in our sport and in college athletics, it’s really hard to stand firm I think on some of those reasons why guys wouldn’t be eligible that have signed pro contracts.”

The new challenge: How to determine how much college eligibility these players have. The current guide is that a player’s year in school is determined by his graduation date. Once a prospect overseas graduates high school, he has a gap year and then he must start studying as his eligibility clock begins. Creighton’s Fedor Zugic, for instance, joined the Jays last year as a 21-year-old and was ruled a college senior because he had more than one gap year due to some commitments with his national team; he has filed for another year of eligibility.

Purdue coach Matt Painter, who has served on the NCAA’s oversight committee and the National Association of Basketball Coaches board, sees an easy solution to the eligibility side. He has recommended to the NCAA that anyone college-aged should be eligible.

“Even if they’ve been a pro and they’ve signed, who cares now?” Painter said. “They’re all pros. Everybody’s getting paid in name, image and likeness. So what’s the difference in having a contract overseas?”


Lloyd is one of the experts in this field, because he’s been recruiting overseas for multiple decades, first as an assistant at Gonzaga and now as the head coach at Arizona. At both places, he’s had players who are immediately successful and some who need a year or two to adjust.

Rui Hachimura, for instance, arrived from Japan and played only 4.6 minutes per game as a freshman at Gonzaga. As a junior, he was a second-team All-American and went ninth in the 2019 NBA Draft.

“I think the key to making it work, like anything, is being 100 percent committed,” Lloyd said. “Understanding that it’s not always going to work. You can’t take one shot, because there’s lots of reasons kids don’t work out.”

The 2025-26 season could be an inflection point for a lot of college coaches, who will either try to get in on the trend if it works out for the schools at its forefront or tread carefully because of high-profile misses.

Zlovarić is betting on the former. Last month, he was on the stage with Florida after the Gators won the national championship with one of their clients, Urban Klavzar, on the roster. Klavzar was just a backup, averaging 3.2 points per game, but Alex Condon, from Australia, was a key starter. He trained at the NBA Global Academy, which has long been sending some of its best players to American college.

But most of the top Europeans have been off-limits, and the real eye-opener will be when a team wins a national title with an NBA-bound European prospect as one of its stars.

“That’s going to happen next year, or if not next year, it is gonna happen after that,” Zlovarić says. “(Recruiting) Europeans is becoming mainstream. And the whole mindset is shifting where now, like, ‘Hey, why would I just only look at a St. John’s transfer if there is a guy out there that used to not be available but is available to me now and he’s just as good, if not better? Why would I not go get it?’

“Up until this point, the most talented went to the draft in the NBA, and the second tier, they went to EuroLeague and somewhere in Europe. But now it’s completely changed, obviously, in the approach. Because now, like everybody, we are 100 percent open.”

(Photo: Michael Reaves / Getty Images)



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Canady handles pressure, makes $1 million-plus NIL deal pay off for Texas Tech

OKLAHOMA CITY (AP) — NiJaree Canady smiled broadly as she held up a gaudy championship belt with the Big 12 logo in the center. Texas Tech’s star pitcher had dominated the conference tournament, throwing 16 2/3 shutout innings in three games to claim the Most Outstanding Player award. Her smile was as much from relief […]

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OKLAHOMA CITY (AP) — NiJaree Canady smiled broadly as she held up a gaudy championship belt with the Big 12 logo in the center.

Texas Tech’s star pitcher had dominated the conference tournament, throwing 16 2/3 shutout innings in three games to claim the Most Outstanding Player award.

Her smile was as much from relief as joy. Moments before that, she had described the challenges she has faced since her decision to transfer from Stanford shifted the college softball landscape.

Canady led an upstart Stanford squad to the Women’s College World Series semifinals her freshman and sophomore years. After last season, when she was named the USA Softball Collegiate Player of the Year, she entered the transfer portal.

She shunned the traditional powers and signed a $1 million NIL deal to head to Texas Tech — a massive sum for a softball player that drew some unwanted attention.

“So, I definitely feel like there were a lot of things said about the whole entire thing and of course, like media and stuff,” she said. “I feel like that added just — a weight to the situation.”

Her father, Bruce Canady, said things got crazy.

“A whole lot of pressure was put on her,” he said. “It got to the point where we thought we had had a stalker. Just a lot was going on. But, you know, Tech’s a good place. It’s a good place. They’ve got her in a good environment.”

Canady said her father and her faith were among the key aspects that helped her deal with the challenges.

“I got through it,” she said. “And there were days where it honestly was very hard, just looking back.”

She’ll take another step when the 12th-seeded Red Raiders (45-12) host Brown (33-15) on Friday in the Lubbock Regional.

That Canady was even in the portal was a bit of a shocker. She had been successful and had built deep friendships at Stanford.

“Extremely hard,” Bruce Canady said. “I mean, we’re the type of parents that push education. But then you get a lifetime opportunity … then you just have to go with it.”

Gerry Glasco took the head coaching job at Texas Tech last summer. After he started talking to Canady, he got busy.

“I realize we have to put together a team that can compete on a national level and give her a realistic chance to come to Tech or there’s no way we can recruit her,” he said.

Glasco came through, and Canady did the same. Canady has a 26-5 record with a nation-leading 0.81 ERA and has 263 strikeouts in 181 innings.

Canady also has been able to hit — something she didn’t do at Stanford. She is batting .309 with eight home runs and 30 RBIs.

The ups and downs of the journey were part of why the winning of the Big 12 regular-season and tournament titles — the first ever for the school — were so satisfying for Canady. She loved her teammates at Stanford, but Tech is home for her now.

“I feel like it was all worth it, and there’s no place I’d rather be right now than with Texas Tech,” she said. “Being able to win the regular season and the the conference tournaments means everything.”

Even Glasco was surprised by how well Canady pitched in the conference tournament. She’s been dealing with a nagging injury and hasn’t been practicing.

“To get to see her dominate in the circle the way she dominated this week was really eye opening to me as a coach,” he said. “And we know her greatness. But like, it was very visible, very evident.”

Canady allowed two hits and struck out eight in seven innings in the Big 12 title game, a 4-0 win over Arizona.

“I think she’s a competitor, first and foremost,” Arizona coach Caitlin Lowe said. “She obviously has elite stuff and she competes her tail off, and she has a lot of tools, right? So the moment you get on time, then there comes the change up. And being able to lay off the rise that’s out of the zone to get to the rise that’s in the zone and then being on time for that when it’s your time. It’s a cat and mouse game.”

Canady felt comfortable at Devon Park in Oklahoma City — the site of her Women’s College World Series wins — during the conference tournament. She hopes to lead her teammates back in a few weeks so they can have the World Series experience.

“This, especially being in Oklahoma City, is just a dream come true to be able to hold the (conference tournament) trophy,” she said. “We still have one big goal we want to accomplish. We’ve knocked out two of the three.”



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Paul Mainieri on South Carolina struggles before LSU series | LSU

Paul Mainieri has gone through this before. He just thought that he wouldn’t have to do it again. Mainieri believed the South Carolina team he inherited had some talent, enough so that the Gamecocks could compete immediately in the toughest conference in college baseball. He didn’t think his first year at his new school would be as […]

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Paul Mainieri has gone through this before. He just thought that he wouldn’t have to do it again.

Mainieri believed the South Carolina team he inherited had some talent, enough so that the Gamecocks could compete immediately in the toughest conference in college baseball.

He didn’t think his first year at his new school would be as difficult as it was in 2007, his first season at LSU.

“In the fall, I thought there were a few pieces,” Mainieri told The Advocate.

But after getting swept at Clemson during nonconference play, Mainieri recognized shortcomings with his new team. They proved to be holes he couldn’t fill during Southeastern Conference play.

“The conference is just so tough. You know, it’s unforgiving,” Mainieri said. “And our schedule in particular was really difficult this year, and it exposed our limitations, where we have them.”

South Carolina holds a 5-22 record in the SEC. Mainieri’s team is 27-26 overall and has won only one series in conference play, taking down Ole Miss twice last month.

The Gamecocks are nowhere near the postseason picture heading into this weekend’s series against LSU beginning at 6 p.m. Thursday (SEC Network) in Columbia, South Carolina.

“I forgot how hard it is to win college baseball games, I guess,” Mainieri said.

Mainieri’s difficulties this season in some ways mirror what happened in 2007, when he left Notre Dame for Baton Rouge to replace Smoke Laval.

The Tigers were 29-26-1 that season and went just 12-17-1 in SEC play. Mainieri knew he’d have to take his lumps, but his confidence never wavered when it came to whether he could turn the program around.

“I told the team that, ‘This will be the last year that LSU was ever taken lightly again,’ ” Mainieri said. “And it’s a pretty bold comment, based upon what had happened in the first year. But I don’t think LSU has been taken lightly again since then.”

The Tigers went to Omaha the next season before winning their sixth national championship in 2009. But before they could find that level of success, they had to build the foundation in 2007.

That meant turning to freshmen such as Jared Mitchell, Sean Ochinko, Ryan Schimpf and Blake Dean. Dean led the Tigers in batting average and started every game.

“If we’re not going to win at a high level, at least I’m going to get these good freshmen a lot of experience and playing time, so it’ll pay off down the road,” Mainieri said. “And it certainly did with that group of guys at LSU.”

Mainieri has deployed a similar strategy at South Carolina, hoping that freshmen such as KJ Scobey and Beau Hollins can help turn around a program that won back-to-back national championships in 2010-11.

“They’ve had up-and-down moments, just like the kids did way back in the 2007 season,” Mainieri said. “But they’ve also shown what they’re capable of doing at times.”

But a lot has changed since Mainieri retired at LSU after the 2021 season, and even more about the game has evolved since 2007.

There’s NIL. There’s the transfer portal. There’s more pitchers than ever throwing 95-plus miles per hour, and more hitters than ever strong enough to consistently hit balls out of the park.

Mainieri knew these were hurdles he’d have to tackle when he decided to return to the dugout last summer, but the sheer impact of it all caught him a bit off-guard.

“The strength of the players, the velocities of the pitchers, that has been a big change since I retired four years ago,” Mainieri said. “I was telling someone the other day, we’re beating Ole Miss 5-1 in the sixth inning or something, and they bring a guy in out of the pen throwing 100 miles an hour.

“I remember when Jaden Hill touched 96 mph in a fall game, and how everybody oohed and ahhed. I remember Alex Lange’s first pitch of his career (was 95 mph) … and you could hear the buzz throughout the crowd.”

This brutal reality has, in part, led to South Carolina being third-to-last in the SEC in home runs (27) and second-to-last in ERA (9.27).

“We’ve just struggled on the mound mightily,” Mainieri said. “You just look at our statistics, and it’s easy to see that.”

Acquiring the horses necessary to compete in the SEC is the next step for Mainieri. He said he’s already hard at work on the recruiting trail for next year and beyond.

But recruiting high school players is just a slice of the pie in the modern era of college baseball. Adding immediate impact transfers with the help of sufficient NIL funds is a component of roster building that has become equally crucial in 2025.

“When I first got here last summer, we lost a lot of recruiting battles because other schools were giving a more, shall I say, appealing package to kids,” Mainieri said. “That’s the reality of the world we live in now. The schools that have a lot of money and are willing to give it to the players are getting the best players.

“We were playing Tennessee, for example, and the first baseman (Andrew Fischer) and the No. 1 starting pitcher (Liam Doyle) both played for Ole Miss last year, and both had a lot of success for Ole Miss last year. Why would they change schools from Ole Miss to Tennessee? Because they like the color orange? I mean, let’s be honest.”

Mainieri is still confident he can get South Carolina back to where it was 15 years ago. It’s a feat he already accomplished at LSU.

But he knows it’s not going to be easy.

“We just have to upgrade and get better, like we did after the first year at LSU,” Mainieri said. “And hopefully we will. We’re all working like crazy on recruiting for next year.”



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