It’s not exactly a blood diamond, but NCAA Tournament games are a real cash cow that doesn’t pay the guys who toil on the ground, making it all possible. Don’t believe me? Well, when you hear the actual numbers, blood diamond might sound more apt. Maybe blood sapphires. The $$$ breakdown after the jump.

Back in 2009, former UCLA basketball star Ed O’Bannon led a group of athletes in filing an antitrust lawsuit against the NCAA regarding the use of their likenesses in promotional materials. The suit was immediately recognized to have far-reaching implications for the NCAA – and thanks to some changes to the suit and a recent decision by a judge, the stakes are even higher.

Casual sex will make your life a living nightmare and no one will ever actually love you for who you are if you play sports for a living. That’s the main takeaway from Broke, last night’s 30 for 30 documentary on the financial pitfalls that professional athletes often face. More, after the jump.

In July of 2008, as he sat rotting in the federal penitentiary in Leavenworth, Kansas, Michael Vick’s life was unraveling. And it wasn’t just because he was in jail on dogfighting charges: Vick’s money situation was a mess.

What if we told you there was a new development to talk about in the Floyd Mayweather-Manny Pacquiao saga? Would you get excited? Well, uh, don’t.

Digital Domain Media Group Inc., the digital production company founded by director James Cameron and best known for producing visual effects for movies like Titanic and Transformers, has filed for Chapter 11 less than a year after going public. This is bad news for one noted investor.

People love old-time baseball memorabilia. Willie Mays is one of the greatest baseball players in history. Combine Willie Mays and old-time baseball memorabilia, and you’ll probably wind up with something someone will pay a lot of money to get their hands on.

The Super Bowl is a week from Sunday, and even if you’re not a Giants or Patriots fan, you’ll be into the action thanks to opportunities to do three things to excess: eat, drink, and gamble. After the jump, a few of the more absurd ways you’ll be able to partake in the latter.

Given that Joe Paterno was such an iconic figure in the Penn State community, it’s only natural there’s a high demand to publicly pay respects…and, alas, that some are taking advantage.

When it came out last month that Kobe Bryant and wife Vanessa were getting a divorce, some took an interest in the fact that the couple apparently had no prenuptial agreement. Well, that apparently worked to Vanessa Bryant’s advantage.