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.
Catherine Carlson, a senior vice president with the Eagles, discussed the NFL team's partnership with LifeBrand, a brand protection firm specializing in social media health checks.
Justin and Taylor Norris, co-founders and CEOs of LIT Method, talked about the investment from Jay-Z in their fitness company.
As COVID vaccination numbers have increased in the U.S., Cheddar's Michelle Castillo visited the home of the Boston Red Sox, Fenway Park, as it welcomed back fans earlier this month.
NYC officials are beginning to rethink the layout of city streets as biking ticks up in the city. Now, thousands of bike racks are being installed across the city. Cheddar's Chloe Aiello reports.
Along with other celebrities, Venus Williams is partnering with Delos' International WELL Building Institute in order to safely welcome back fans and attendees to live events.
Ezra Kucharz, chief business officer at DraftKings, talked to Cheddar about the online sportsbook's deal with the NFL and the future of legal sports gambling in the U.S.
New England Patriots Safety Devin McCourty and Broad Street Ventures president, Ralonda Johnson, joined Cheddar to discuss the VC firm's mission to educate athletes and Black and brown investors to expand their financial options.
Former NASCAR legend Jimmie Johnson spoke to Cheddar about tackling his childhood dream on the IndyCar circuit.
Sports trading card company Topps is combining with a special purposes acquisition company in a deal valued at $1.3 billion and seeking a public listing. Topps Co.
Major League Baseball has moved the All-Star Game from Atlanta’s Truist Park, a response to Georgia enacting a new law last month restricting voting rights.
