Jun 24, 2013, 9:59 PM EST
The Ed O’Bannon case could be hurting the NCAA’s credit outlook, according to the Wall Street Journal.
Looks like the case is starting to affect other things outside the courtroom, with the case slowly catching on nationally after a slow start. O’Bannon, a former UCLA player, is looking to help former college players recoup royalties from their likenesses being used in video games.
The report marked the first time that litigation has emerged as a risk in a Moody’s report for NCAA debt. A federal judge in Oakland is weighing a class-action certification for the suit, launched by former UCLA basketball star Ed O’Bannon in 2009, that would add potentially thousands more current and former athletes to the case and expose to the NCAA to greater damages if it loses.
The NCAA’s credit rating has not changed, but the outlook presents a prediction of what it will be in the near future. This is especially true if the lawsuit O’Bannon is keying gains class status. The credit watch is a prediction that covers the next two years. Their current credit rating sits at Aa2, the third-highest rating available. If the case does gain class status, that would prompt the change, more than likely.
If the O’Bannon case gains class certification, Moody’s says the NCAA could face greater danger of a downgrade from the third-highest Aa2 rating, which would affect $40 million in debt the association took out in 2005 and 2010 to buy rights to basketball’s National Invitation Tournament and renovate its Indianapolis headquarters, among other expenses.
The NCAA is currently staring down $40 million of debt taken from 2005-2010.
Increasing interest in the case was the reason for the report. “We felt the trial has advanced to a point where it was worth looking at the credit again,” said Moody’s spokesman David Jacobson.
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Dec 20, 2014, 10:00 AM EST
Kwe Parker might only be a junior in high school, but he’s one of the best leapers in the country.
Dec 20, 2014, 9:00 AM EST
If you don’t feel like watching lower-tier bowl games, you’ll be happy to know that Saturday is loaded with great games.
Dec 19, 2014, 11:45 PM EST
Here’s a rundown of Friday night’s action.
Alex Mitola’s buzzer-beater three gives Dartmouth a 58-55 overtime win over Northern Illinois (VIDEO)
Dec 19, 2014, 11:12 PM EST
Alex Mitola ended with 18 points for the Big Green.
Dec 19, 2014, 10:13 PM EST
Eastern Kentucky had 14 threes. Miami had 12 field goals.
Dec 19, 2014, 8:59 PM EST
The senior forward is apparently playing for the Wisconsin Bearcats.
Dec 19, 2014, 7:30 PM EST
Villanova is off to another good start in the regular season, but heading into the New Year, the Wildcats will need to rack up the wins in postseason play.
Dec 19, 2014, 6:49 PM EST
The SMU forward missed the first 10 games.
Dec 19, 2014, 6:15 PM EST
The Gators could be shorthanded once again in Saturday’s non-conference contest with Wake Forest.
Dec 19, 2014, 5:00 PM EST
The Indiana sophomore was struck by a vehicle driven by a teammate back in November.
Dec 19, 2014, 4:15 PM EST
Antravious Simmons averaged 0.7 points and 0.7 rebounds as a redshirt freshman at VCU.
Dec 19, 2014, 3:27 PM EST
The Wildcats are on the road to take on one of Conference USA’s best teams in UTEP, and both No. 18 Miami and No. 20 St. John’s are in action as well.
Dec 19, 2014, 2:44 PM EST
Jordan Gathers had yet to play in a game this season after undergoing hip surgery in June.
Dec 19, 2014, 1:26 PM EST
Kansas State is one of many programs looking to land Semi Ojeleye, but all of their scholarships are accounted for currently.
Dec 19, 2014, 12:04 PM EST
Jones’ dunk on five-star forward Cody Riley is one of the best you’ll see this year.
Dec 19, 2014, 11:30 AM EST
When you talk Duke basketball in 2014-15, you start with Player of the Year candidate Jahlil Okafor, but there are plenty of other keys to Duke’s success as we get closer to the new year.
Dec 19, 2014, 10:30 AM EST
Patrick Cole has been suspended indefinitely.
Dec 19, 2014, 9:00 AM EST
Oklahoma-Washington, Ohio State-North Carolina and UCLA-Kentucky are just three of the marquee matchups.
Dec 19, 2014, 12:41 AM EST
Even with the win there are things Duke needs to improve upon, most notably the fact that they’ve committed 36 turnovers over the last two games.
Dec 18, 2014, 10:45 PM EST
Also of note was Ole Miss avoiding what would have been their fourth home loss of the season.
- Markus Kennedy cleared to play immediately for SMU 0
- Weekend Preview: A loaded Saturday slate highlights the weekend 4
- Rebounding, foul shooting help No. 2 Duke make up for 19 turnovers in win over UConn 0
- Michigan State starting forward to miss next two games with non-displaced wrist fracture 0
- Film Session: What’s plaguing Marcus Paige? 1
- Throwback Thursday: UConn ‘Shocks The World’ against Duke (VIDEO) 1
- New Year’s Resolutions: Virginia Cavaliers 1
- Gregg Marshall writes to Wichita State students after seeing empty seats in student section (PHOTO) (7)
- Report: David Robinson’s son will be preferred walk-on at Duke in 2015-16 (VIDEO) (6)
- West Virginia’s Bob Huggins torches Marshall after coach calls Huggs ‘afraid’ (5)
- Without Alex Poythress, No. 1 Kentucky’s offense looks comfortable in win over No. 21 North Carolina (4)
- Lauren Hill’s playing career over, to become honorary coach (4)