The First Whistle: $400 for 1 Million

The University of Wisconsin System and its NIL collective, VC Connect, filed a lawsuit against the University of Miami in Wisconsin circuit court. They are accusing Miami of interfering with an NIL agreement involving former Wisconsin football player Xavier Lucas. In January, Wisconsin denied a request from Lucas to enter the transfer portal. Lucas withdrew from Wisconsin and enrolled at Miami anyway, allegedly breaching his NIL contract. The case is the first of its kind and reflects the legal uncertainty in college sports. Without a league structure or union rules like in pro sports, more legal disputes over athlete movement and NIL deals could follow. Miami is expected to seek moving the case to federal court.

🧑‍⚖️ Read full Sportico article here

The NCAA Division I Council has proposed a rule change that would allow student-athletes and staff to bet on professional sports while maintaining prohibitions on college sports betting and actions that could impact game integrity. The proposal, which must also be approved by Divisions II and III to take effect, reflects a shift from total prohibition to a harm-reduction approach, focusing enforcement on behaviors tied to collegiate competition. Existing bans on betting-related sponsorships, sharing of insider information, and gambling on college sports would remain in place. If adopted, the rule would apply only to future conduct and not retroactively.

📄 Read full NCAA article here

The Oklahoma City Thunder won their first NBA title since relocating from Seattle in 2008, defeating the Indiana Pacers 103–91 in Game 7 of the Finals. The team pulled away after Pacers guard Tyrese Haliburton exited early with an Achilles injury. General Manager Sam Presti built the roster with homegrown talent like Chet Holmgren and Jalen Williams, along with strategic free-agent signings, while keeping the team well under the luxury tax. With the league’s fourth-youngest roster and full rotation returning next season, the Thunder are positioned for continued success. Contract extensions for Holmgren, Williams, and potentially a $380 million deal for Gilgeous-Alexander could shape their financial future as they aim to become the NBA’s next dynasty.

🏀 Read full Front Office Sports article here

Three Division I quarterbacks—LaNorris Sellers (South Carolina), Kevin Jennings (SMU), and Avery Johnson (Kansas State)—have become investors in The Cashmere Fund, a publicly listed venture capital fund that allows non-accredited investors to invest in VC-backed startups. This marks a shift in how college athletes are leveraging their name, image, and likeness (NIL) opportunities, as such investments were not permitted before the NCAA’s 2021 rule changes. The fund, which has about $16 million in assets under management, focuses heavily on consumer goods, tech, and health care. Sellers, Jennings, and Johnson join recent Cashmere investors like NFL MVP Josh Allen and Damar Hamlin. Their participation offers both exposure for the fund and early investing experience for the athletes.

📈 Read full Front Office Sports article here

The U.S. Olympic & Paralympic Committee ended 2024 with over $1.02 billion in total assets, marking its first time reaching billionaire status. Despite no government funding, the USOPC posted $565 million in revenue and a $129 million surplus, largely from broadcast deals, sponsorships, and income related to the Paris 2024 Olympics. Nearly $192 million was spent on direct athlete and NGB support. Over the 2021–2024 cycle, it generated $1.6 billion in revenue, but rising demands for athlete funding and looming college sports instability mean the financial challenges are far from over.

💰️ Read full Sports Examiner article here

The Big Ten and Big 12 announced a first-of-its-kind partnership with PayPal to handle athlete revenue-sharing payments starting July 1, when payments begin under the House v. NCAA settlement. The Big 12’s deal is worth nearly $100 million over five years and includes Venmo as the presenting partner of the Big Ten Rivalry Series and a sponsor of Big 12 championships. PayPal will provide secure and reliable payment solutions for student-athletes, with CEO Alex Chriss noting ongoing talks with other conferences. This marks a major shift in how schools distribute compensation in the new collegiate athletics landscape.

🤝 Read full CBS Sports article here

New York Jets owner Woody Johnson has agreed to purchase a 43% stake in English Premier League club Crystal Palace for £190 million ($254 million). The deal allows Palace to remain eligible for next season’s UEFA Europa League, as previous co-owner John Textor also owns French club Lyon and violates UEFA’s rules on multi-club ownership in the same competition. Palace is primarily controlled by chairman Steve Parish and U.S. investors Josh Harris and David Blitzer.

⚽️ Read full USA Today article here

⬆️ Shai Gilgeous-Alexander. After leading the Thunder to their historic title run and winning NBA Finals MVP, Shai Gilgeous-Alexander became the first player since 2000 to win regular-season MVP, Finals MVP, and the scoring title in the same season. - Jack Baer

⬆️ Cooper Flagg. The Dallas Mavericks selected 18-year-old forward Cooper Flagg with the No. 1 pick in the 2025 NBA Draft, fulfilling a lifelong dream for the top prospect. – Tim MacMahon

⬆️ Sophie Cunningham. Sophie Cunningham was fined for a flagrant foul and a post-play scuffle in the Fever’s win over the Sun—but the incident has skyrocketed her popularity, earning her nearly a million new social media followers and selling out her jerseys. – Lorenzo Gordon

⬇️ Indiana Pacers. The Pacers' title hopes crumbled when Tyrese Haliburton went down with a torn Achilles in Game 7. Tied at 16 when he left, Indiana couldn’t recover—getting outscored the rest of the way and falling 103-91 to the Thunder. – Steve Aschburner