Bribery scandal rocks college athletics
I'm sure everyone here is aware of the FBI investigation that has brought down Rick Pitino at Louisville and will probably ensnare a few others before its all over.
Really nothing everyone didn't already know went on. High school athletes with shady handlers and greedy parents go to the highest bidder. These handlers/parents were paid by shoe company reps to send the kids to schools they had contracts with. Also college coaches were paid bribes by investment advisers to steer their future multimillionaire players in their direction. I imagine the latter happens quite a lot. I'm suspect every major college coach has several IARs lining up to be their pal and offer perks of various sorts.
Athletes and other entertainers can be a particularly vulnerable group of clients because unlike other HNW individuals, they are typically young, uneducated and frequently don't come from highly educated households. So they are highly unsophisticated client prospects with "accredited investor" incomes.
I'm amazed at the scale - they arrested the Head of Global Marketing at Addidas. Going to be interesting to see how deep the rabbit hole goes once everyone in custody starts flipping.
Jesus- the global head? I think players should be paid and schools should have a salary cap and or salary max per position.
Head of Global Basketball Marketing.
Still a big deal, just getting the facts straight
What are they going to tell us next, all these athletes are on performance enhancing drugs?! WWE is fake???!!!
Agreed. The NCAA is such a sham.
I love the movie Blue Chips
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