A report by Yahoo revealed that an FBI probe into NCAA corruption identifies possible violations by basketball powerhouse schools including Kentucky, UNC, Kansas, Duke, Texas, and more than 15 others. Sports Attorney Jason Belzer, President at Game, broke down the implications of the allegations.
Several top NBA prospects and recently drafted players were linked to impermissible benefits, such as cash advances and entertainment and travel expenses. Names listed include Duke's Wendell Carter Jr., Michigan State's Miles Bridges, and Alabama's Collin Sexton. Belzer isn't surprised by the allegations. He believes that until players get a share of the revenue that the schools get, these transactions will continue to be a part of recruitment.
The average compensation for a college basketball or football player is around $250,000-$300,000, including items such as tuition and room and board, according to Belzer. The top players generate an estimated $3 million to $5 million for their schools, he added. Belzer said a compensation structure that could fix the problem would be one that allows players to accept certain amounts of compensation. The easiest way, he said, would be to put money into a trust fund for the athletes.
Jim Weber, CEO of Brooks Running a Berkshire Hathaway subsidiary, talks to Cheddar about the big growth in sales as more people took up running amid the pandemic.
Here are the headlines you Need2Know for Tuesday, November 25, 2020:
Kim Ng, who started her Major League Baseball career as an intern, has become the majors' highest-ranking woman and Asian American in baseball operations.
Justin Turner was removed from Los Angeles’ 3-1 victory over the Tampa Bay Rays in Game 6 of the World Series after registering Major League Baseball’s first positive coronavirus test in 59 days.
Bill Reiter, NBA insider for CBS Sports, joined Cheddar to talk about the trend of big-time athletes like LeBron James entering the big-time business world.
FanDuel CMO, Mike Raffensperger, joined Cheddar to discuss fantasy sports amid the coronavirus pandemic. Raffensperger also discuss how the company is handling bets, particularly in the NFL as players contract the virus.
The Tennessee Titans find themselves back in a waiting mode hoping the NFL allows them back inside their headquarters by Tuesday with their game against the Pittsburgh Steelers postponed until later this season by the league’s first COVID-19 outbreak.
The Tennessee Titans have suspended in-person activities through Friday after the NFL says three Titans players and five other personnel tested positive for the coronavirus.
Less than five weeks after the conference announced it would push football and other fall sports to spring because of the pandemic, the conference changed course.
Arthur Blank, Atlanta Falcons owner and Home Depot co-founder, joined Cheddar to discuss business values beyond making a profit and the NFL's stance on racial inequality issues today.
