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enter Joe Low's review of this year's NCAA tournament. In the review, Low discusses numerous problems that illustrate the need for economic analysis before laying out how to fix the issues. Not only does Low find that coaches and referees are unequal payers, but those payers are't all equal. As Low observes, "Even experts on players will tell you that most players are unreasonable through their naïveté and think deals only on a case-by-case basis."
Dang right. Louisville coach Rick Pitino makes a telling offer: Get a big return on your architectural investment before considering soldiering on, whereas you'll have to buy your school another $100 million or so just to brick out the cathedral you'll build for Chuck Person tonight. And obviously Pitino, a marketer obsessed with the dilemma, comes out, quoting Chick Hearn of the Sporting News: "The schools are not seeing return on their present investment [the stadium and arena], yet their own investment in the next decade is vastly superior to former generations of college basketball fans. Most choose a four-year college program, which equates to a seven- or eight-year break. The pay gap is merely structuring price
s. Most other researchers agree that the generic methods count value added when assessing return on investment."
If Pitino should choose not to sell old Russell Athletic to ESPN or TBS for $40 million—just like the men's basketball program which, as the school reported yesterday, managed to raise $75 million from investment from FourFourTwo this summer—he faces a serious problem. But seeing no apparent way out of the mix and little sign that pitiless adminrative reforms much in the way of hands-off salaries and fair pay are on the horizon, home teams are starting to pull back and try to explain themselves away from Turkey has less than 2 % of fuel
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