Rick Pitino is one of the most famous and beloved coaches in college basketball. He is also one of the most controversial and most hated.
Polarizing is a good word to describe the two-time* national champion.
However, image is not important to Rick Pitino. Winning is the only thing that matters.
And to win in the modern era of collegiate athletics requires money. Specifically, NIL money.
Rick Pitino is going to spend!
After being hired at St. John’s in March, Pitino has one of the most talented teams in the Big East— on paper, at least. He turned over the vast majority of his roster through the transfer portal and put together a team that is expected to make the NCAA Tournament in his first year.
That may not have been possible just three years ago, before Name, Image and Likeness.
Money and success have a direct correlation in the modern era of college basketball. Look at Miami’s Final Four team.
Acquiring top talent is no longer possible without proper NIL backing. And with that emphasis on player compensation has brought some level of parity.
Non-blue blood programs that once were unable to land big-time high school prospects or top transfers are back in the mix— so long as the NIL money is there. Pitino is making sure that it’s there.
He recently spoke with Brendan Quinn of The Athletic about a variety of topics.
NIL was a big focus.
If this is the game, we’re going to play it.
— Rick Pitino on NIL
Before July 1, 2020, a program like St. John’s may not have been able to out-recruit the Duke, UConn, UCLA or Indianas of the world. NIL has made it so that the Red Storm can compete with anybody.
Nowadays, I think St. John’s is no different than UCLA. We can get the same players they can get. Why? NIL. Prior to that? Yeah, different worlds. But now? All the kids are getting paid.
What’s the difference between St. John’s and Kentucky now? Nothing.
— Rick Pitino
Prior to Pitino, St. John’s was NIL broke. It ranked somewhere around the bottom third of the Big East in terms of NIL capital. That is no longer the case.
According to The Athletic, Pitino has been part of about 30 NIL fundraisers since being hired and spends “most of his free time” raising money for the NIL pool. He hopes to generate somewhere in the ballpark of $2-3 million in available NIL funds for this year’s team alone.
All of the facility upgrades that were promised to him by university president Rev. Brian J. Shanley are great. But Pitino isn’t concerned about facilities at the moment.
The most important thing right now is the NIL.
— Rick Pitino
Pitino’s approach to NIL is even more interesting when you look at the list of boosters. He told The Athletic that approximately 40% of the money raised at St. John’s came from donors who do not have any ties to the university. Checks are coming from all across the country.
Where other coaches might complain about the structure of Name, Image and Likeness, Pitino doesn’t care. He is playing the metaphorical NIL ball as it lies, and is raising a lot of money in the process.
His only concern is how to keep the money flowing once his network gets tired of giving non-tax-deductible donations. Pitino’s foot stays on the gas. College basketball beware!