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.
The final Grand Slam tennis tournament of 2021 will be lacking some of its biggest stars including Venus and Serena Williams, Roger Federer, and Rafael Nadal. However, with legendary names missing from the court, it could provide an opportunity for future superstars to shine. Jon Wertheim, a senior writer at Sports Illustrated, joined Cheddar to discuss the fallout from the cancellations. "This is tennis' version of the NBA after [Michael] Jordan," he said. "Some Kobe [Bryant] or some LeBron [James] will come along, and we'll have new champions to cheer for."
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In stories sure to move markets next week, investors will be served another full plate of earnings, the July jobs report comes out, and the Summer Olympics continue in Tokyo.
Cleveland’s Major League Baseball team finally has a new moniker, the Guardians. Formerly known as the Indians, the organization made a change to the team name after years of public scrutiny and claims of appropriation of Native American culture. Cheddar’s Hena Doba and Baker Machado provide some additional details into the name change.
