The University of Minnesota men’s basketball team is one of five programs in the athletic department that receives revenue share money to pay its athletes. After football, the men’s hoops program receives the largest allocation and that money is supplemented by Name, Image and Likeness income.
Neither the U, nor other college athletic departments, reveal specific sums but Minnesota athletics director Mark Coyle told Sports Headliners last summer the Gophers are in a good spot with rev sharing and NIL which has players being paid for things like endorsements and personal appearances.
“I feel like we have put ourselves in a position where we can be very competitive with our peers in the Big Ten and be able to compete at the highest level,” he told Sports Headliners recently. In the new fiscal year that started July 1, the revenue share money allowed for major Division I programs like Minnesota is $21.3 million.
A solid guesstimate for coach Niko Medved’s hoops program is a combined $7 million budget from rev sharing and NIL for players. College basketball players now have six-figure compensation, and sometimes beyond.
With that backdrop, Sports Headliners interviewed a number of players recently and asked how they’re spending money. More than anything, they are saving and investing. Here are answers about their money allocations, plus additional fodder.
Bobby Durkin
There was a consensus of appreciation for the money including from Durkin, a senior forward and in his second season at Minnesota. “I just try to be smart with everything I get so I am grateful to have it,” said Durkin who works with a financial advisor. He hasn’t done anything yet with his money to treat himself.
Durkin grew up about 30 minutes from the White Sox’s stadium and has long been a fan of the Twins Central Division rival. Asked why, he said: “Oh, I don’t know. All my friends were Cub fans and me and one other buddy decided to be White Sox fans.”
His favorite movie is the 1946 classic “It’s a wonderful Life.”
Nolan Groves
“Honestly, I’ve saved almost all of it (money),” said the sophomore guard who attended Orono High School and transferred earlier this year from Texas Tech. Groves is grateful for the upswing this year in the financial market. “It’s a good time to have your money invested,” he said.
Groves loves fishing and missed the sport when he was in Texas. He once caught a 6-foot lemon shark in Florida.
“I was pretty young so I don’ remember it that much but it took about 20 minutes to reel in, I remember that. I remember my arms being tired because I was so little. It’s the biggest fish I ever caught.”
Grayson Grove
The redshirt sophomore forward also has a financial advisor. “It’s not like I’ve done anything crazy with it (the money),” he said.
If there’s an indulgence, the decision is for a “nice meal.” Café Zupas, an on campus spot featuring sales and soups, is a favorite.
Medved, starting his second season as Gopher head coach, has earned the trust of his players including Grove. “You can really tell he cares about us. He’s just a really good person to play for.”
Malick Kordel
The sophomore center transfer from Michigan, and a native of Germany, has used his money to buy a used truck. That helps accommodate his large body, listed at 7-foot- 2 and 275 pounds.
It’s been a forever practice for teams to exaggerate heights. “No, I am not lying,” said Kordel who reports he is 7-foot-2 in shoes and “about 7-1” without.
He said his wingspan is about 7-foot-6.
Isaac Asuma
The junior guard from Cherry, Minnesota has used his money “helping my family out a little bit.” He added that he is “saving a lot of it as well.”
Asuma has a new look wearing braids. His hair was getting long and he’s always wanted to have braids which take about an hour to style.
Asuma is easy going, enjoys video games, and hanging out with friends. “I am really open to anything,” he said.
Malachi Palmer
The junior guard and transfer from Villanova took a different approach with some of his money. “I bought a couple of houses trying to invest in those. So, spending my money wisely for sure.”
Palmer isn’t sure whether he will try to flip the houses or rent them. The properties are in his hometown of Harrisburg, Pennsylvania.
Palmer’s father is in real estate, so he has a valued mentor. After Palmer’s basketball career is over, he plans to work in real estate, perhaps commercial.
Kai Shinholster
The sophomore guard from the greater Philadelphia area said his money has enabled him to help his parents with their endeavors.
His mom, Katie Shinholster, is an experienced development and fundraising executive for JEVS Human Services. The Philly nonprofit helps youth and young adults overcome socioeconomic issues through education and training.
Kai has also given money to his dad Rick’s basketball and literacy camp back home.
Kai treated himself to a car and is leasing a Tesla.
Minnesota’s exhibition opener is Thursday night against Omaha at The Barn. The Gophers’ first nonconference regular season game is November 2 at home against North Dakota.