Looming Nike Scandal (Zion allegation shown to be a hoax)

[MChambers]

A sportswriter and sports radio personality (does some TV, too) who made his name as a so-called "expert" on the Southeastern Conference. To my observation, there is some general perception that his expertise has slipped over the years, at least as he has become increasingly embedded in the Worldwide Leader.

My father was a lawyer too and once when I was a kid, he told me he was going out of town for a meeting with the SEC. I said, incredulously, "The Southeastern Conference?"

[PackMan97]

Not directly related to the Nike scandal (other than everybody does it)...

NC State has stopped (as of August 2018) making payments to Mark Gottfried as part of his termination. NC State has declined to comment on the matter, but I can only assume it's related to the Adidas/Early/Dennis Smith Jr issues.

https://www.newsobserver.com/sports/...228417824.html

[Mtn.Devil.91.92.01.10.15]

I think the premise is that the value of tuition, room and board is miniscule compared to the true market value of the services of the top athletes plus the amount they could command in endorsements.

There's a billion other threads about this. Let's not go down that road right here.

[BLPOG]

Two - why aren't more people bothered by the fact that under-the-table payments result in tax evasion, and that the rest of us effectively pay more taxes as a result? [either rates could be lower, deficits/debt could be lower, purchasing power of the dollar higher etc etc].

I think it just doesn't occur to most people.

On the other hand, some people consider tax evasion to be commendable behavior.

[swood1000]

There's a billion other threads about this. Let's not go down that road right here.

The official thread for that is The Pay the Players Debate.

[BandAlum83]

You have that right.



I don't think it has been explained yet. Apparently the police and the mayor (Rahm Emanuel) are not happy.

The double jeopardy part was a joke. Trials conducted by the media don't count

[BandAlum83]

Two - why aren't more people bothered by the fact that under-the-table payments result in tax evasion, and that the rest of us effectively pay more taxes as a result? [either rates could be lower, deficits/debt could be lower, purchasing power of the dollar higher etc etc].

In addition to the tax evasion by the recipient, odds are it is also tax fraud by the payor as a tax deductible business expense of some sort.

[MartyClark]

Avenatti is one self destructive dude. He's become an NFL lawyer, his law license is "not for long".

[OldPhiKap]

I used to be an SEC specialist. In general, being investigated, even if you're cooperating, doesn't have to be disclosed. Usually, you don't have to disclose unless there is a pending proceeding (actual court case, not just an investigation). If you have reached an agreement to settle the case, you'd have to disclose that, but that's not the case here, apparently.

Sometimes, companies will choose to disclose, but Avenatti seems to think it's required.

This is exactly right.

(And I doubt Avenatti reviewed the 10-K’s anyway. He is, um, not a great representative for our profession)

[53n206]

This is exactly right.

(And I doubt Avenatti reviewed the 10-K’s anyway. He is, um, not a great representative for our profession)

I thought he graduated top of hi class.

[moonpie23]

cryptic message naming Duke

[Tooold]

cryptic message naming Duke

That’s as cryptic as you can get

[Kfanarmy]

You have that right.



I don't think it has been explained yet. Apparently the police and the mayor (Rahm Emanuel) are not happy.

Based on reporting today, and his public statement, I hope the feds do get involved.

[aGDevil2k]

That’s as cryptic as you can get

That man is as big of an ambulance chaser as I have ever seen.

[PackMan97]

In addition to the tax evasion by the recipient, odds are it is also tax fraud by the payor as a tax deductible business expense of some sort.

This is one of the things that has the "college admission" scandal participants in hot water. A lot of them "donated" to the ringleaders "charity" and claimed it on their taxes. As we all know, when other things may be hard to prove the IRS is very good at getting tax evasion and related charges to stick.

[Atlanta Duke]

cryptic message naming Duke

Would not be the first time Avenatti is just throwing chum in the water.

USA Today article speculates on the source of Avenatti's information - no reported connection between that individual and Duke recruits.

[The indictment] did contain a rather interesting reference to his client, who was described as an AAU coach in California whose program had recently lost its Nike affiliation and sponsorship.

Within minutes, coaches and others within the basketball industry pointed to Gary Franklin, Sr., who runs the California Supreme program. ESPN, citing sources, has reported that Franklin is the coach in question. ...

Both Ayton and Bol Bol, the players referenced by Avenatti, played for Cal Supreme as well as current NBA players Solomon Hill, Aaron Holiday and De’Anthony Melton.

https://www.usatoday.com/story/sport...rt/3281016002/

[CameronBornAndBred]

Dude better have some serious solid proof of all the accusations he's making, otherwise I don't see how he isn't facing a ton of libel lawsuits on top of his federal charges.

[swood1000]

Take your pick:

“I’m not gonna get into the specifics of this,” Avenatti explained. “But what I will say is the way this has been framed is not accurate. It’s just not accurate. And in fact, from the very first moment that we had any meeting with Nike, we made it clear that under no circumstances would we participate in anything that did not require full disclosure to investigators and the federal government.”

"If [Nike] wants to have one confidential settlement and we're done, they can buy that for $22.5 million and we're done," Avenatti is quoted as saying. "Full confidentiality, we ride off into the sunset."

[unclsam1]

Dude better have some serious solid proof of all the accusations he's making, otherwise I don't see how he isn't facing a ton of libel lawsuits on top of his federal charges.

Remembering the credibility of some of his clients, e.g. Julie Swetnick with allegations of drugging with spiked punch and gang rape.

[Indoor66]

What good is a civil suit? The guy is broke and possibly headed for jail.