"Sometimes a mistake is a great lesson": Dan Lanning opens up on instilling financial literacy at Oregon
Dan Lanning believes financial literacy is extremely important, especially in the modern college football world where athletes are exposed to loads of money. The NIL has dramatically changed the course of how players get paid. However, Lanning remains unfazed. He claims that Oregon has made some real disciplined actions to raise awareness among its existing players and incoming freshmen out of high school.
He also mentioned that former Ducks athletes like Bucky Irving often visit the facility to inspire the team on how to make financial decisions and stay away from mistakes.
Oregon enjoys a good amount of NIL backing, and athletes get paid well. Unlike other programs, the instances of players leaving Eugene are comparatively fewer. Lanning appeared on "Bussin’ With The Boys" on Tuesday, where he opened up on the importance of financial literacy on campus.
“I think the our guys are pretty savvy that they all make mistakes, right? But I always tell them recruiting, like, 'Look, man, you're about to be taken care of. I don't need you to walk through this chain of Taylor on it,' like, 'We can just have a T and not more,'” Lanning said (1:28:46). “Let's be smart. I think education, we spend a lot of time on financial literacy here, we bring people in to talk to our guys, and they have to feel comfortable having those conversations with us.
"We had Bucky Irving. I'm so proud of what he's done in the NFL with bucks, but we're just catching up, and he's talking about, hey, here's the great decisions I've made so far financially, and how he's able to, you know, put some back, and he's taking care of the future. And I think some of that's from lessons learned here, so you hope that you're teaching those lessons, and then sometimes a mistake is a great lesson, right? Some of these guys will make mistake but you want to learn from it and build from it, so they can have a long-term future because of it.”
Dan Lanning shares his biggest splurge after massive contract extension
Dan Lanning recently agreed to a two-year extension with Oregon that will keep him through the 2030 season.
He will make approximately $10.4 million annually, with an increment of $200,000 every season until the final year of his contract. From $1,200 per month as a graduate assistant to making $10 million in one year is a massive upgrade.
The coach mentioned that he recently bought a 1974 Vintage Bronco. It was part of his bucket list. What's more significant is that it was the same model that LeBron James purchased before. Lanning mentioned that it was the biggest splurge he has had after signing the new contract. It's just a beginning for him as the Ducks aim for the national championship in the 2025 season.