The NCAA, which is a nonprofit, tax-exempt 'educational' organization, has come under fire recently for capitalizing on the commercialization of college sports. Many athletes have accused the organization of unfairly using them for financial gain.
Since 1995, the NCAA has spent more than $84 million on legal fees, including some settlements. Former UCLA basketball star Ed O'Bannon filed a lawsuit on July 21 against the NCAA and its member schools, accusing them of illegally profiting from using the likeness of former players for commercial pursuits like video games, DVDs, and jersey sales.
Dr. Boyce Watkins, a finance professor at Syracuse University, has become a vocal critic of the NCAA, for what he calls its exploitation of the black community.click here to read more