Duke B-Ball’s Yankee Like Financial Bucket

WSJ revealed “The Dark Money Behind Duke Basketball” & at many other universities now paying MILLIONS to assemble elite rosters of players going to the highest bidder via the transfer portal system. A poorly kept mystery that’s no accident?

Says the article ironically: “It’s no secret how the best college basketball teams are assembled these days – follow the money. It isn’t hard to find. The boosters who spend millions to lure in prized freshmen and coveted transfer players sit courtside at games, while the fundraising collectives that pool money to attract premier talent actively solicit donations online.” Yet, we’re also told, “If you’re looking for the money behind the most iconic brand in college basketball, the favorite to win the NCAA tournament and the team that landed future No. 1 NBA pick Cooper Flagg, you’re likely to find nothing at all,” that is, the paper could find little “financial footprint” to trace. Reason behind this “gigantic mystery” as to “who is paying for a roster that cost millions of dollars” is that “a group of 3 high net worth donors … have chosen to operate in a way that makes them unique in the braggadocious world of college sports – by conducting their business from the shadows.”

Put another way, these biggest Duke donors bury themselves & operational details – all “perfectly legal” – in a non-profit corporation in Delaware called “One Vision Futures Fund” that has an Arkansas address doing business in North Carolina. Its mission, to help Duke athletics. The university told WSJ this system helps insulate the players from the usual pressures of high finance & bidding wars in sports these days but wouldn’t disclose how much money is involved. BTW, “Duke already had something called the Legacy Fund, created … to endow the team” & minimum donation to that was $1 million. The bottom line” Even the New York Yankees would be envious of this $ pipeline.

Davd Soul