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.
There is a new player in the mobile app stock trading space.
Zingeroo recently announced a funding round of $8.5 million. The company says it aims to bring 'friendly competition' to stock trading, by literally breaking trading down into daily and weekly competitions between friends. Zingeroo also says it hopes its new approach can make trading more accessible, educational, and social than ever before. Zingeroo co-founder and CEO Zoe Barry joins Cheddar News' Closing Bell for more.
Back in July of 2021, the NCAA announced a new policy in favor of allowing student-athletes to be given the chance to gain income through endorsement deals as well as public appearances. The Name, Image, and Likeness policy have found great appreciation among athletes who now can grow their businesses without having to sacrifice their playing eligibility. However, some critics believe this new policy could cause some chaos in the locker room. Sports Reporter at the Wall Street Journal Laine Higgins, joined Cheddar to discuss more.
Chris Vannini, National College Football Reporter for The Athletic, joins Cheddar News' Closing Bell, where he breaks down the complications COVID-19 is having on college bowl season, with five games cancelled as of Thursday.
Eric Mitchell, sports analyst and co-founder & head of media relations at Lifeflip Media joins Cheddar News to discuss how covid-19 is impacting pro sports.
Brandon Marcello, National College Football Reporter for 247Sports, breaks down each of the two semifinal matchups and explains why the smart money is on the two SEC teams.
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Mark Drumheller, betting analyst for Yahoo Sportsbook and The Sharp App, dives into an icy matchup between the Vikings and Packers, as well as other must-watch games including a potential trap in Baltimore.
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Trysta Krick, Host of 'BetMGM Tonight' helps clear up a very crowded playoff picture by making selections for Week 17's top games while pointing to to an AFC West matchup for her lock of the week.
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Trysta Krick and Mark Drumheller give viewers their winning picks ahead of Week 17 of the NFL season, while Brandon Marcello dissects each of the College Football Playoff semifinal matchups.
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