A 46-year-old Atlanta Hawks finance exec, Lester T. Jones Jr. , got 3 years and 5 months in prison for turning his employer’s money into his personal piggy bank. Instead of tracking the team’s cash, he put it toward watches, designer clothes, and vacations—including $80, 000 trips to the Bahamas and
The NCAA is set to grow its basketball tournaments from 68 to 76 teams next year, a move that will reshape the classic bracket and add new games before the main action starts. The change has been on the table for four years, with conference leaders and coaches pushing for more spots while critics wo
The Utes’ basketball budget tells a story about their chances in the Big 12. Last year, the football team made more than $100 million and kept a profit of about $50 million. The men’s basketball program earned roughly $18. 5 million and spent about $11. 2 million, leaving a profit of just over
A big change is coming to college sports, and the University of Utah is at the center of it. The school is teaming up with Otro Capital, a private equity firm from New York. This deal could bring in up to $500 million, which is a lot of money for any sports program. The firm will own a small part of
Stadium deals, often hailed as modern-day marvels of architecture and engineering, are also complex financial puzzles. Enter Stacy Sonnenberg, a financial whiz at Goldman Sachs, who's shaking things up with her innovative securitization strategies. Think of it like this: she's turning stadiums in
