Episode 13: PSA Coach Gustave Koumare Presents RECESS

Time for Recess!

With all that is going on in the world, it is always great to hear good news occasionally to put smiles on our faces, and keep our spirits lifted. NCAA student-athletes across the country have recently received the extremely fortunate news that the Supreme Court has passed legislation that allows student-athletes to be compensated for their name, image, and likeness (otherwise known as NIL). NIL legislation has been a long-fought battle over the years for student-athletes and often has been a point of contention between collegiate institutions, athletes, sports agents, and political figures. However, a bright horizon is set for NCAA student-athletes who can now profit from the newly passed NIL legislation.

What exactly is NIL? In a nutshell, it means that student-athletes can now be paid for their autographs, self-branded merchandise, and the promotion of themselves at events or on various media platforms. In essence, the student-athlete can basically turn him/herself into an actual business.

Given this tremendous opportunity for wealth creation and unlimited potential to gain financial freedom begs the question; once all of this “newfound” wealth comes rolling in, how with the prospective entrepreneur/athlete manage it? Will they invest it? Will they squander it? Are they even aware that there is in fact a conscious decision that must be made regarding structuring these new income streams?

Well student-athletes, it’s time for RECESS! RECESS was founded by Mr. Gustave Koumare, Coach and Assistant Program Director of the PSA Cardinals AAU Basketball Team based out of NYC. The mission of the program is to instill financial literacy in student-athletes equipping them with the ability to make sound financial decisions during and after their collegiate careers. The RECESS curriculum includes topics such as how to navigate the financial markets, investing, saving, spending awareness, self-branding, and establishing passive income to name a few. The founders of RECESS believe that a large portion of our society has not been properly educated in finance and thus end up making poor (no pun intended) financial decisions throughout their lifetimes.

According to RECESS, “Students who learn about and get engaged in investing are more likely to”:

 Have self-awareness and confidence

 Stay in school

 Attend college with clarity

 Receive more job opportunities

 Invest their own money over time and earn higher returns

 Be in a better position to help families in need for generations

 Less apt to rush into becoming professional athletes

It is RECESS’s goal to engage, educate, and provide opportunities to the underserved student-athletes that are fortunate enough to be enrolled in their program giving them a financial education that they would not have received under “normal” circumstances. The success metrics of the program will be measured by the number of students enrolled, events attended, tenure of enrollment, funding support, and ultimately the enrolled student’s school grades and personal finance progress.

One of the great components of RECESS is the way in which the program is structured. In addition to the financial literacy classes that are offered within the program, the student athlete’s particular sport discipline is incorporated into the training sessions. The RECESS camps are divided up into part sports and part financial literacy training. This gives the student-athlete the opportunity to exercise their mind as well as their body. Both activities produce invaluable benefits.

The planned funding for the program will be by way of endowments, sponsorships, and fundraising. There are already a few major companies/institutions that are offering their support for the RECESS initiative and looking to partner with the RECESS team.

The very first RECESS event will be held on August 22, 2021, at The Hoop School located at 681 Lawlins Rd in Wyckoff, NJ from10am-2pm. The RECESS team is expecting a very large turnout for the event and will gauge the frequency of future events on this attendance.

So, student-athletes with the NIL rules in your favor, it is now more important than ever to get on track with financial literacy and create a promising future for yourself and your loved ones. Do yourself a great service… It’s time for RECESS!!!