Big story, Adidas exec working with college coaches to funnel money to recruits/families in order to sign with XYZ University.

College coaches colluding with financial managers helping them manage money given to recruits.

 

The FBI arrested 10 people on charges of fraud and corruption in men's college basketball on Tuesday.

 

The Department of Justice announced Tuesday that assistant coaches at Arizona, Auburn, USC, and Oklahoma State had been arrested along with managers, financial advisers, and representatives of the international sportswear company Adidas.....................................The complaint doesn't name the university, but, based on details provided, it is most likely Louisville, which signed a $160 million sponsorship deal with Adidas in August.

http://www.businessinsider.com/college-basketball-bribery-scandal-arrests-2017-9?r=UK&IR=T

Rick Pitino 'effectively fired' amid University of Louisville FBI basketball investigation

 

Rick Pitino appears to be out as University of Louisville men's basketball coach after the FBI alleged in a criminal complaint that coaches with the program participated in a scheme to pay recruits' families.

 

Steve Pence, Pitino's attorney, told the Courier-Journal early Wednesday afternoon that the coach has been placed on administrative leave but has been "effectively fired."

 

Pitino may have been put on administrative leave because under his contract, if he is fired he must be given 10 days' prior notice and “an opportunity to be heard.”

 

Cont

Louisville signed a deal with Adidas for $160M!? That's just one of their revenue streams. They make all this money from athletes and what do the athletes get out of it? Free tuition, worth around $10k a year or whatever it is. That's nothing compared to the money they rake in from sports. I say it's about time college athletes got paid. They just shouldn't be...colluding and stuff.

Seems like Nike will also be pulled into this since they are the other apparel company that was being outbid. College BB is effed. This is going to ensnare about every P5 team before it's all said and done.

Louisville signed a deal with Adidas for $160M!? That's just one of their revenue streams. They make all this money from athletes and what do the athletes get out of it? Free tuition, worth around $10k a year or whatever it is. That's nothing compared to the money they rake in from sports. I say it's about time college athletes got paid. They just shouldn't be...colluding and stuff.

nah. Only p5 schools rake it in. That goes right back to funding all of the sports that lose money.  You can pay male athletes 50k and cheating programs will pay them 100k.

Louisville is a toxic place now. Pitino had maybe 2-3 more years before he retired and then they would have been able to poach the hottest young coach in the country or an established coach the level of Calipari to continue the basketball factory. In 2 days they went from royalty to the outhouse. Now, no respectable coach would consider going there because with everything that will happen to them, it will be a long time before they can actually compete at a high level again. They may get a washed up coach who wants to continue their career, and have to overpay for them to do so, but their brand just went kaput overnight.

Another case for the Sports Academy and Gymnasium system. Colleges could still be involved, but the sports programs would have to fund themselves. Clearly, companies are willing to fund them.

Does anyone at this point in time care to name any colleges that aren't corrupted by athletics?

 

In the 1800's Akron fired its coach, John Heisman, because he put winning ahead of everything else. The NCAA is simply a joke. It's laughable that they still try to put up this ridiculous facade that colleges are all about protecting their student athletes.