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.
Beginning Christmas Day, the home of the Los Angeles Lakers, Clippers, Kings, and Sparks, the Staples Center, will go by the name Crypto.com Arena after a massive $700 million deal with AEG. Steven Kalifowitz, the chief marketing officer at Crypto.com, and Todd Goldstein, the chief revenue officer at AEG, joined Cheddar to talk about the historic changeover in naming rights and what other changes that fans entering the arena might expect.
The iconic Los Angeles Staples Center will sport a new moniker, Crypto.com Arena, beginning Christmas Day. AEG made the naming-rights deal with Crypto for a historic $700 million.
Jill is joined by “Friend of the Pod” Mosheh Oinounou to talk booster shots, and whether “fully vaccinated” will eventually mean three shots, not two. Plus, the latest on the Kyle Rittenhouse trial. And the research is in: we know now the perfect way to hug. Also, Jill and Mosheh debate whether Airpods are passé.
The Green Bay Packers are selling shares of their stock for just the sixth time in its 102-year history. The Packers are the only major professional sports team in the U.S. that is publicly owned and not-for-profit. Now, it is offering 300,000 shares at $300 apiece; however, fans who become shareholders will not have much power, as the Packers' stock is not technically a stock. Washington Post sports reporter Des Bieler joins Cheddar News' Closing Bell to discuss.
Jill is joined by Baker Machado to talk all things infrastructure: where will the money go and who’s in charge? Plus, Sesame Street has its first Asian-American muppet. And a trailer for the trailer for Spiderman. Huh?
All-Pro Baltimore Ravens offensive lineman Ronnie Stanley joins Cheddar News to discuss launching The Ronnie Stanley Foundation, whose mission is to improve the quality of life for rescue dogs, provide training that cultivates therapeutic properties, and match each rescue with an individual who has faced a challenge in life such as a chronic illness or emotional trauma.
Jill and Carlo cover the latest with the infrastructure bill, the growing state rebellion over boosters, Trump's dereliction of duty on the pandemic, Taylor Swift's reign of cultural domination and more.
Earlier this week, New York's gaming commission approved nine mobile sports platforms to operate in the market, but each respective sportsbooks' revenue will be taxed at 51%, tied for the steepest rate in the country. Eben Novy-Williams, sports business reporter for Sportico, joins Cheddar News' Closing Bell where he breaks down the challenge sportsbooks face to be profitable in the region.
One NFL team says it is using data to help it win off the field. The Seattle Seahawks say they want to be a source of inspiration for other organizations that want to reap the rewards of a data-driven culture and aim to show the unlikely role data can play in professional sports operations. Seattle Seahawks Director of Business Strategy and Analytics Paimon Jaberi joins Cheddar News' Closing Bell to discuss.
