And, even worse, would it be legal if he laid down a large futures bet on that team to win the championship, and got great odds, before he gave the team the NIL money?
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Illini Guardians
Billionaires don't need to rig basketball games. They couldn't even get that much action to move needle. The have the stock, commodities, and real estate market for that already. Much bigger casinos
Well, some billionaires do a lot of things they don’t need to do.
Mark Cuban endorses this message.
DReq
Always Illini
- Central Illinois
I agree that the big players will put their money wherever they want. For the rest of us it would be nice if a collective acted like it cared about the little guys. I am not big player by any stretch but would love to put some money into the pot. I just want the feeling that the collective has some intent to be open about the things they can be. If it is all a big secret I feel like I am just tossing money into the air and hoping it comes down where it will do some good. I have no reason to trust the existing collective to do that. Even ICON seems to seek the big donor and while I appreciate their gifts to non-profits I still have the feeling that they are focussed on the big dollar folks. I guess I will wait to see if either collective fits the bill of "making it easier for the little guys to band together" as you suggest. I know there is a limit to what the collectives can disclose but year-old information about the activities of the collective is a bit too close to the vest.
I am also not above having a billionaire buy a team (as selected by the coaches) for Illinois. It has worked for many years at certain institutions long before NIL.
So does this hundredaire
Interesting idea. I think if this were doable, someone would. But I don't think it is. Too many variables in the college landscape, and too much money already chasing athletes. Even in the pros where they strive for balance, small market teams can end the season of one of the big boys. And it wouldn't surprise me if the betting sites have fine print that nullify payouts for certain types of activities. The casinos seem to always have something up their sleeve when they appear to have lost. Would really change the landscape if it did though.
Over the last year, the attorney and owner of Cigarette Racing has emerged as a leader in the NCAA's burgeoning NIL industry, reportedly investing around $12 million to $14 million in NIL deals for 165 University of Miami athletes. Most notably, UM point guard and Kansas State transfer Nijel Pack inked a two-year $800,000 NIL deal with LifeWallet.....
www.miaminewtimes.com
Univ Miami 2022/23 results
Football 5-7
Mens basketball 29-8 Final Four
Womans basketball 23-8 Elite Eight
Crunch Time: John Ruiz's LifeWallet Delays Annual Report, $60 Million Payment
Miami attorney and 'Canes NIL king John Ruiz is staving off scrutiny of his company LifeWallet after a turbulent year in which the company's $32 billion market capitalization went up in smoke.
Univ Miami 2022/23 results
Football 5-7
Mens basketball 29-8 Final Four
Womans basketball 23-8 Elite Eight
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Wonder if he considers this success or failure? That was one of the more difficult parts about working for a billionaire. Trying to guess what was good enough for someone who otherwise rarely if ever needed to compromise.
bdutts
- Houston, Texas
I'd be interested to know what Pack has to do to "earn" that 800K....Over the last year, the attorney and owner of Cigarette Racing has emerged as a leader in the NCAA's burgeoning NIL industry, reportedly investing around $12 million to $14 million in NIL deals for 165 University of Miami athletes. Most notably, UM point guard and Kansas State transfer Nijel Pack inked a two-year $800,000 NIL deal with LifeWallet.....
Crunch Time: John Ruiz's LifeWallet Delays Annual Report, $60 Million Payment
Miami attorney and 'Canes NIL king John Ruiz is staving off scrutiny of his company LifeWallet after a turbulent year in which the company's $32 billion market capitalization went up in smoke.
Univ Miami 2022/23 results
Football 5-7
Mens basketball 29-8 Final Four
Womans basketball 23-8 Elite Eight
Likely Dribble, pass, shoot, and defend. Also he's a hired hitman now
How the world has changed. Miami football players used to do that as a free add-on.
The good ol U!
bdutts
- Houston, Texas
Pretty sure that was not the initial intent of NIL but here we are. I am guessing that Congress is going to have to step in and put some rules in place.
I hope not, they're the only ones that can screw something up worse than the NCAA can.
bdutts
- Houston, Texas
Something has to give. NCAA can't be counted on to fix it so I'm not sure who else can?
Ransom Stoddard
Ordained Dudeist Priest
- Bloomington, IL
The schools. I think there's a long game here where a governing body other than the NCAA emerges. The NCAA effed all this up by sticking so staunchly to amateurism and no one was prepared for the flood when the NIL dam burst open.
But for the love of everything that's holy, please keep the government out of this.
pruman91
- Paducah, Ky
A Senator asking to keep the government out of it..........We are in a lot of trouble folks...................We really really are ................../s
I wholly support the complete tear down and rebuild of the NCAA into a new governing body. There has to be some rules, but sometimes organizations become too big and bloated and need to be rebuilt.
New leadership, new ideas around athlete compensation, and a way to be relevant. The SEC and B1G have probably had real discussions on what secession from the NCAA would look like.
Ransom Stoddard
Ordained Dudeist Priest
- Bloomington, IL
The NCAA still works with the DIII (and maybe DII) paradigm, but is an absolute anchor around the ankles of D1. It's ridiculous that it ever amassed so much power since it's supposed to be a self-governance mechanism for the schools, but somewhere along the way it turned into a stagnant swamp.
Drain the Swamp.......
Ransom Stoddard
Ordained Dudeist Priest
- Bloomington, IL
I'd like to think that Senator Stoddard would be incorruptable and unimpeachable. Myself on the other hand...let's not go there.