How About a Free Market for College Athletes?
In 2010, CBS and Turner Broadcasting agreed to pay $10.8 billion to broadcast the NCAA men’s basketball tournament from 2011 to 2024. As a result of this contract, fans of this tournament can watch these games on four different networks. And perhaps more importantly (for those of us who work during the day), we can see these games on our computers in our offices.
Certainly all these games make us fans very happy. And all that money has to make coaches, athletic directors, and other university administrators happy. But what about the people we are actually watching?
The people on the court are referred to as student-athletes. And according to the NCAA rules, these athletes are supposed to be amateurs. In other words, other than a scholarship, these athletes are not supposed to be paid.