Which has crashed more: NCAA College Sports' reputation or the stock market. Hard call? Let's start with the NCAA. The Miami Hurricanes allegedly had dozens of past and former players from 2002 to 2010 receive illegal gifts from Nevin Shapiro, a convicted Ponzi schemer and Miami booster. Yahoo Sports broke the story about Shapiro, who pleaded guilty to robbing investors of around $83 million. Yahoo Sports In addition, several Miami coaches and administrators may have tried to cover up the violations. Shapiro allegedly spent "millions" on Miami players, ranging from sex parties to jewelry. The Miami situation is so bad, NCAA president Mark Emmert said: "If the assertions are true, the conduct at the University of Miami is an illustration of the need for serious and fundamental change in many critical aspects of college sports." Miami is not alone. Auburn, LSU, North Carolina, Ohio State, Oregon, Southern Cal. and Tennessee are also making headlines for the wrong reasons.
Automobiles, houses and even prostitutes, sounds almost like the huge financial institutes that were thought to be too large to fail. Furthermore, like the stock market, there is no reason to believe things will improve any time soon. However, here is were things differ. While the Dow Jones is down (The Dow Jones industrial average closed 424.7 points lower to 10,985.50 on Thursday), NCAA bowl revenue is up 22%! According to the SportsBusiness Journal, Bowl payout to teams increased by 22 percent over the previous year. In sum, both the economy and college sports are making headlines for the wrong reasons; however it appears that one of these entities has figured out a way to make a profit.