Money and basketball

A photo of a big about of cash

401(K) 2012 // FLICKR

Four assistant college basketball coaches charged with taking bribes and other similar offenses were arrested on September 26. Two of those charged are James Gatto of Sports Global Marketing, who allegedly paid $150,000 to two high school players to attend two universities that had contracts with that company, and Chuck “The Rifleman” Person, an assistant coach at Auburn who played for 17 years in the National Basketball Association.

There is so much money in college basketball!

Many people think college athletes should get their fair share of the money. College basketball brings in more money than professional basketball. Plus, many college basketball coaches are paid higher salaries than pro basketball coaches. Several lawsuits have been filed over whether college athletes can form a union and whether they are eligible to be paid.

The situation may be worse in high school basketball. Hundreds of thousands of dollars change hands among star high school players and coaches. Because high school players often come from poor families, they are susceptible to taking money to be sponsored by athletic shoe companies. Many college coaches are paid more than their university presidents. As if those facts were not worrisome enough, several universities, the University of Texas likely foremost among those, have their own television networks.

The money trail goes on and on. When all is said and done, though, I think college athletes will be paid.

Philip Black, “The Cat in the Hat,” is a Street Sense vendor.


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