According to SI, “within five years of retirement, an estimated 60% of former NBA players are broke”.

It makes you wonder is there an ongoing systemic risk? Should the professional leagues intervene?

During this recession, we have seen many millionaires lose tons of money. But with athletes, the situation intensifies by the fact that they are often young, uneducated, inexperienced, and distracted by their sudden fame.

SI did an excellent job in coving this topic from many different points of view. This article is a must read!

Source:  SI - How (and Why) Athletes Go Broke

The tournament starts Thursday and Friday, with the opening-round game played Tuesday between Alabama State and Morehead State.

Davidson has been left out of this years NCAA Tournament. The nation’s top scorer, Stephen Curry, will play in NIT.

Upset Watch: Utah State & VCU

Print your bracket: Yahoo! Sports, CBS Sports, ESPN

Maloof seemed pretty confident, saying “we’re going to get something done”.

But this seems highly unlikely; NBA officials released an ambitious $1.9 billion development plan for Cal Expo which would include a new arena for the Kings. They believe the new arena would cost upwards of $600 million. This seems like a great idea, lets finance a new stadium with tax payer money, while cutting city services.

Meanwhile, it is estimated that Pacers will lose $30 million this season and have lost money every year except two during the last 28 years.

Pacers are saying that they simply cannot afford the $15 million per year operating costs of Conseco Fieldhouse. Conseco Fieldhouse is currently owned by the Capital Improvement Board, City of Indianapolis. So there is a good chance Pacers might leave if the Indianapolis Capital Improvement Board does not pickup those costs.

But the CIB cannot help with the cost, because they are also facing a $43 million deficit.

Rumors around the league reveal San Jose, Kansas City, Seattle, and Las Vegas are potential future NBA homes.  It might be a good idea for the Pacers to move, since they were last in the league in attendance.

But can you image Hoosier state without a pro basketball team?

Just after days of getting released from the Cowboys, the Buffalo bills signed Terrell Owens to a $6.5 million, one-year deal Saturday. The deal included a $4 million signing bonus.

Terrell Owens said “I’m leaving America’s team (for) North America’s team”.

TO leaves Dallas, one of the biggest football media markets in the league, for one of the smallest and starting to make big news for the Buffalo Bills.

Owens made nearly $14 million last year and was scheduled to make $5.7 million in base and a roster bonus with the Cowboys. Rosenhaus got him $800,000 increase for this year.

“[Owens] thanks the Cowboys organization for releasing him and adding to his bank account,” Rosenhaus said on ESPN.

Bills owner Ralph Wilson was the driving force for this unlikely signing. Apparently Wilson used his private jet to pick us up Owens and his agent.

Bills as a team finished 25th in total offense and their leading receiver Lee Evans had only three touchdown catches.

ESPN.com’s John Clayton broke the story on Saturday.

The deal gives Stats a monopoly over the sports information statistic business. The company will be half owned by AP and Murdoch’s News Corp.