Moody’s downgrades the NCAA’s credit outlook based on concerns about the O’Bannon case.
This quote is a doozy:
“The escalation of risks reflect the growing perceived disconnect between the amateurism of student-athletes, as codified by the NCAA, and the commercial success of high-profile college sports,” the agency’s report said. “Increased public discourse about the best interest of student-athletes combined with highly publicized litigation could destabilize the current intercollegiate athletic system and negatively impact the NCAA and its member universities.”
“Perceived disconnect”? The NCAA? Mark Emmert has no idea what Moody’s is talking about.