Sep 7, 2012, 6:29 PM EDT
According to the Associated Press, former Duke forward Lance Thomas is being sued for not paying an outstanding balance on nearly $100,000 worth of custom jewelry he purchased back in 2009 from a New York-based jeweler.
Where does college basketball come into play for the current New Orleans Hornet? The date of purchase (December 21, 2009; Duke beat Gonzaga 76-41 at Madison Square Garden on the 19th of that month), which lands square in the middle of his senior season at Duke.
The Blue Devils went on to win the national title that season, beating Butler 61-59 in the championship game.
According to the report Thomas dropped a $30,000 down payment for five pieces of diamond jewelry that cost a total of $97,800, and the suit was filed back in January in Austin, Texas.
At the time the suit was filed Thomas was a member of the Austin Toros of the NBA D-League.
The firm, Rafaello & Co., caters to celebrities and professional athletes and approved Thomas for a $67,800 line of credit that remains unpaid.
One question from a compliance standpoint isn’t the fact that Thomas made the purchase but rather where that $30,000 came from.
[Rafaello & Co. attorney Mike] Bowers said he’s seen no evidence that anyone other than Thomas was involved in the transaction and he doesn’t know why the Duke player was extended credit for most of the purchase.
“It was a clean, clear-cut transaction between Mr. Thomas and my client, and I don’t see anything that warrants me asking anything beyond that,” Bowers said. “Speaking hypothetically, if he came in on a bicycle with tattered jeans, I doubt seriously he would have been sold jewelry, but I’m not drawing conclusions. The terms here are clear.”
If Thomas received the money from a relative or a person the NCAA terms as an “established family friend” then there’s no issue with the $30,000.
Rule 188.8.131.52 reads as follows:
A student-athlete may receive a loan from an established family friend without such arrangement constituting an extra benefit, provided: [R] (Adopted: 1/11/94)
- (a) The loan is not offered to the student-athlete based in any degree on his or her athletics ability or reputation;
- (b) The individual providing the loan is not considered a representative of the institution’s athletics interests; and
- (c) The relationship between the individual providing the loan and the student-athlete existed prior to the initiation of the student-athlete’s recruitment by the member institution.
As for the remaining $67,800 the question there is whether or not the loan was provided with Thomas’ future earnings as a professional being considered, which is against NCAA rules.
...it would be if he received $67,800 credit based on expected future basketball earnings. NCAA prohibits that. Going to be interesting—
Dan Wetzel (@DanWetzel) September 07, 2012
Duke associate athletic director for media relations Jon Jackson informed the AP that the school was aware of the lawsuit and was looking into the matter.
Sep 18, 2014, 7:04 PM EDT
Mizzou Arena’s just ten years old, but the school has found some areas that need renovating.
Sep 18, 2014, 5:52 PM EDT
Freeberg makes the move from the College of Charleston to The Citadel, with J.D. Powell headed in the opposite direction.
Sep 18, 2014, 4:50 PM EDT
Calipari tweeted that if the coaches gained an advantage from helping revitalize USA Basketball he “doesn’t begrudge them in the least.”
Sep 18, 2014, 3:00 PM EDT
An important member in a 2015 class lacking guards has set a decision date.
Sep 18, 2014, 2:00 PM EDT
John Calipari helped some campers waiting for Kentucky’s Big Blue Madness sleep a little easier by giving away a mattress and some pillows.
Sep 18, 2014, 1:08 PM EDT
Baylor will be without an incoming recruit for the 2014-15 season.
Sep 18, 2014, 11:56 AM EDT
Coach K responded to recent criticisms lobbied at him about unfair recruiting advantages as USA Basketball’s coach.
Sep 18, 2014, 11:00 AM EDT
Providence is hoping a key member of its backcourt will be healthy this season after two straight years with a shoulder injury.
Sep 18, 2014, 10:05 AM EDT
One five-star prospect heard a recruiting pitch centered on LeBron James’ homecoming to Cleveland.
Sep 18, 2014, 9:10 AM EDT
Vince Carter highlight reels are still the best.
Sep 17, 2014, 11:25 PM EDT
With Isaiah Briscoe moving on to the college ranks next summer, Duval could be the next elite guard produced by the Playaz Basketball Club.
Sep 17, 2014, 10:10 PM EDT
Last year’s Hoops on the Haasephalt event attracted nearly 4,000 fans on the UAB campus.
Sep 17, 2014, 8:26 PM EDT
Despite rumors to the contrary, one of the best players in the Class of 2015 is 100 percent committed to attending LSU next year.
Sep 17, 2014, 6:55 PM EDT
“The Grateful Red” snapped up every available ticket within five minutes Wednesday morning.
Sep 17, 2014, 4:55 PM EDT
The Nittany Lions return five of their top six scorers from a team that finished the 2013-14 season with a 16-18 record (6-12 Big Ten).
Sep 17, 2014, 4:04 PM EDT
Jim Boeheim is not one to bite his tongue around the media.
Sep 17, 2014, 3:16 PM EDT
Tucker is a powerful dunker at 6-foot-4
Sep 17, 2014, 1:43 PM EDT
Is Oliver Purnell is tapping into a D.C. pipeline?
Sep 17, 2014, 1:08 PM EDT
Walker is currently suspended from the Texas team.
Sep 17, 2014, 12:15 PM EDT
Missouri will move on with team-related activities without two freshmen following an arrest.
- Kentucky’s John Calipari offers his thoughts on USA Basketball critiques 0
- Coach K responds to USA Basketball criticism during press conference 0
- A key piece for Providence is cleared for full-contact practice 0
- Jim Boeheim calls Yahoo’s Coach K story ‘completely off-base’ 8
- Jalen Rose believes Chris Webber should apologize for what happened at Michigan 4
- Thoughts on Antonio Blakeney, shoe companies and decommitments 1
- Top prospect in Class of 2014 signs endorsement deal with Under Armour 1
- Jim Boeheim calls Yahoo’s Coach K story ‘completely off-base’ (8)
- Former Indiana guard A.J. Guyton writes an open letter to Bob Knight (6)
- Big Blue Nation already camping out for Big Blue Madness? (PHOTO) (5)
- USA Basketball, Mike Krzyzewski and thoughts on today’s ‘takedown’ (4)
- Jalen Rose believes Chris Webber should apologize for what happened at Michigan (4)