SportsCrack Blog

Tuesday, March 20, 2012

Oklahoma State Just Upped The Ante In Shady College Football Ethics

Sure Ohio State had it's Liar Liar Vest on Fire scandal and Miami had it's Boats N Hoes but this new story about Oklahoma State taking out life insurance policies on their own boosters makes me sick to my stomach. Seriously I got to take a shit after reading this...

T. Boone gave some bad advice. Oklahoma State’s athletics department took out $10 million life insurance polices on 27 elderly boosters in 2007. The scheme was expected to reel in as much as $350 million. The Cowboys paid $33 million in premiums over two years before canceling the policies in 2009, when not one of the old codgers passed from this earth.

OSU tried to get out on a technicality, though a U.S. District Judge ruled the life insurance company could keep the money. This is sort of like that time where the athletics department lost $77 million investing in T. Boone’s hedge fund before the financial crisis.

How is this even legal? Taking out life insurance policies on some of your old boosters just smells wrong. I know college football programs gamble every year with huge overhead but you have to be kidding me with this shit.

I think we have to make a shirt for this right? It only seems fair. Best idea sent in gets a FREE SHIRT.

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