The term “student athlete,” as Taylor Branch points out in his seminal piece in The Atlantic, was “a formulation designed, as the sports economist Andrew Zimbalist has written, to help the NCAA in its ‘fight against workmen’s compensation insurance claims for injured football players’.”
If a player was a “student athlete,” he or she wasn’t an employee, and therefore, not qualified for workers’ comp if injured on the field. Which means that NCAA players are–NCAA propaganda notwithstanding–essentially the uncompensated employees of the NCAA cartel: players who literally risk their limbs on the court in order to produce a product that is immensely profitable.
How profitable? In 2010, the NCAA reached a 14-year, $10.8 billion deal with CBS Sports and Turner Broadcasting, covering just “March Madness.” That’s $770 million a year.
What does that mean for the uncompensated worker in this scenario, the basketball player? There just happens to be a March study that provides the number.