NCAA-FBI investigation

The shoe companies cannot pay the players because they have to remain unpaid amateurs because of the NCAA.

The schools or coaches cannot pay them because of the NCAA.

As a result the coach has to be corrupt and accept money, then give all or part of it to the player.*  Or, there can be some type of middleman, be it too-soon agent, financial advisor, or as in one instance, suit designer.

Is it a deceptive business practice?  Now everyone knows where the money comes from--again in this instance--because it could come from boosters, special funds (boosters), or other creative funding.  The money is an investment by Adidas because it wants the teams to be good and hopefully the prospect will result in sports-related income in the future.  Is there a contract for that second "hope" or is this business practice written into the Adidas contract?  The answer appears to be "No."

You probably couldn't have a 17-year old enter into a contract, and you can't have a contract based on a crime, and I suppose there are other reasons too.  

No one really needs a financial advisor for $100,000.  It is about potential future earnings and contracts.  No contract, paid cash, anyone has the right to back out at any time.

It is interesting how none of this appears to be taxed...

As for the justice department and FBI it is as though doing an other-worldly good thing.  But it really points to the NCAA and certain institutions.  And the news at this point?  It is ironic that the first major dominos to fall were not even someone arrested, they are the incidental coach (Pitino) and his athletic director (Jurich).

Mark Emmert at the NCAA must be sitting there with his mouth open.  My god, is my phone tapped?  And it is going to hit them right where it hurts most, the wallet (i.e., the NCAA tournament).  After all, Rick Pitino often proved to be good entertainment in March.

Read about Pitino and he was god-like in Louisville.  He was the highest-paid college coach or real close.  For Karen Sypher he was a mark.

* The parents of recruit Bowen were in on it the whole time.

More on the legalities.  It is almost altruistic!

In this particular case, Person and the other coaches are alleged to have defrauded the universities for which they work by denying the schools of their "intangible rights" to those coaches' honest services due to the undisclosed kickbacks and bribes they received from financial advisers.