Follow the Money: Is NIL Good for College Sports? | ASU+GSV Summit 2026

Jared Wangler (Valiant Management Group; Champions Circle), Joe Karlgaard (HITE EQ), and Lisa Young (Sun Devil Athletics) speak with moderator Kevin Johnson (National Association of Black Bookstores) at the ASU+GSV Summit 2026 in Follow the Money: Is NIL Good for College Sports? to examine how NIL is reshaping the economics of college athletics.

Name, Image, and Likeness reform and the transfer portal have done more than compensate athletes. They have rewritten the economic logic of college sports. The model that once tied athletic success to institutional loyalty, alumni giving, and cross-subsidized programs is under visible strain. Capital is moving differently. Talent is moving faster. Recruiting now resembles open-market competition, with impacts that extend from high school pipelines to boardroom strategy. For university leaders, athletics has become a live test case in how market forces reshape legacy institutions.

The discussion will examine financial tradeoffs, athlete mobility, and the durability of institutional identity in a system that looks increasingly professional. As value shifts toward individual athletes and intermediaries, higher education faces a broader question about how loyalty, brand, and long-term community are sustained. The answers will shape not only the future of college sports, but the financial and cultural architecture of the university itself.

‍