Rich Paul schools young stars on NIL: 'an extreme, extreme head start on life'

Rich Paul, founder of Klutch Sports Group, spent a panel at a Prudential Financial NIL camp in Westlake, Calif., warning top high school athletes about the risks that come with big Name, Image and Likeness checks. While NIL deals can pay millions, Paul said some negotiations can also involve “giving money back” to corporate partners to unlock other investments—citing a $15 million return that helped LeBron James partner with Blaze Pizza and generate tens of millions. Paul, worth about $120 million, pushed a “protect as much as you make” approach, including planning for taxes, since there’s no withholding on NIL payments.