The NCAA Division I council recommended Monday that the organization waive a current rule that prohibits college athletes from profiting from their name, image and likeness.
Why it matters: The recommendation still has to be approved by the NCAA's board of governors, which is set to meet on Wednesday. New laws allowing student athletes to profit from their personal brands are set to take effect in at least eight states on Thursday.
Mark Walter and Todd Boehly agreed to buy a 27% stake in the Los Angeles Lakers from Philip Anschutz at around a $5.5 billion enterprise value. The franchise continues to be majority owned by the Buss family.
Why it matters: This may be more about the next deal than the current one. Financiers Walter and Boehly are part of the Los Angeles Dodgers ownership group, and now are well-positioned to buy out the Buss family were it to want to sell. Kind of like Laurene Powell Jobs did several years ago with the Washington Wizards.
