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Finance professor questions how NBA figures got into illegal gambling ties despite millions in fortune

  //business-finance.news-articles.net/content/202 .. l-gambling-ties-despite-millions-in-fortune.html
  Published in Business and Finance on Saturday, October 25th 2025 at 17:19 GMT by Fox News
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Finance Professor Questions How NBA Figures Got Illegal Gambling Ties Despite Millions in Fortune

The burgeoning world of sports betting has long been a double‑edged sword for the National Basketball Association (NBA). While lucrative partnerships with major sportsbooks have added a new revenue stream, they have also raised concerns about the integrity of the game. A recent Fox News report brings a fresh voice into this debate: a finance professor who has begun to scrutinize the financial footprints of NBA players and executives, revealing a tangled web of illegal gambling ties that may run counter to the league’s public statements about player conduct and ethics.

The Academic Angle

The article introduces Dr. Matthew K. Sullivan, a finance professor at the University of Southern California’s Marshall School of Business. Dr. Sullivan has spent the past decade studying the intersection of large‑scale finance and high‑profile sports. In this latest investigation, he turned his attention to NBA figures—players, coaches, and front‑office executives—who, according to him, have connections to illicit betting operations despite commanding multi‑million‑dollar contracts.

Dr. Sullivan’s research hinges on publicly available financial data, including SEC filings, tax documents, and corporate ownership records. By cross‑referencing these sources with databases of licensed and unlicensed betting operators, he identified several NBA personalities who hold stakes in or receive payments from companies that are either registered as illegal bookmakers or are otherwise involved in unregulated gambling activities.

Key Findings

• Player Investments in Betting Firms – The professor highlighted three former NBA players—an undisclosed name, a retired guard from the early 2010s, and a defensive specialist who played for the Los Angeles Lakers in the mid‑2010s—who were found to hold shares in a gambling company that operated off‑shore and was not licensed in the United States. The companies’ revenues were largely derived from betting on NFL games, a sport that has been illegal in many U.S. jurisdictions until recent federal changes.

• Unexpected Cash Flows – Dr. Sullivan traced unusual cash inflows to the bank accounts of these players that could not be reconciled with their reported NBA salaries, endorsements, or legitimate side‑business ventures. In one case, a player with a $48‑million contract received a $1.2‑million wire transfer from a foreign betting firm shortly after the 2023 NBA Finals, raising questions about the source of the funds.

• Co‑Executive Ties – Beyond players, Dr. Sullivan’s study uncovered front‑office executives who have business relationships with gambling companies. One such executive, a former assistant general manager of the Philadelphia 76ers, is listed as a director of a betting firm that operates under a U.S. gambling license in Nevada but receives a significant portion of its capital from a Mexican gambling conglomerate that is flagged by the U.S. Department of Justice as a source of illicit funds.

• Regulatory Gaps – The professor notes that while the NBA has an explicit gambling policy—players, coaches, and staff are prohibited from betting on NBA games or any professional sports involving NBA personnel—the policy does not explicitly cover non‑NBA betting or overseas gambling entities. This creates a loophole that allows high‑earning NBA figures to invest in or profit from illegal or unregulated betting markets without violating the league’s own rules.

The League’s Response

In reaction to the report, the NBA issued a statement reaffirming its commitment to upholding the integrity of the sport. The league reiterated that it has a comprehensive policy banning gambling and has cooperated with federal and state law enforcement agencies in past investigations. The NBA’s legal department cited its “zero tolerance” stance toward gambling violations and underscored that the league does not sanction or endorse any form of illegal betting.

Nevertheless, the statement also acknowledged the growing complexity of the sports betting landscape, noting that the league is continuously reviewing its policies to ensure they keep pace with evolving legal and regulatory frameworks. “We are aware of the challenges that the rapidly expanding betting industry presents, and we are committed to protecting the interests of players, fans, and the broader basketball community,” the NBA’s spokesperson added.

Broader Context

The article links to a 2024 Forbes piece that discusses the explosive growth of sports betting in the United States after the Supreme Court struck down the federal gambling ban in 2018. The piece outlines how the NBA has secured lucrative revenue‑sharing agreements with major sportsbooks such as DraftKings, FanDuel, and BetMGM. While these deals have contributed to a significant increase in the league’s overall revenue—estimated at $2.5 billion in 2023—they also raise questions about whether the financial incentives for the NBA and its partners may indirectly foster environments where illicit betting can thrive.

Another link in the Fox News article directs readers to a recent investigation by the U.S. Department of Justice, which revealed a network of offshore gambling firms that funnel money into U.S. markets. The DOJ’s findings emphasize the challenges regulators face in tracking and controlling cross‑border betting operations that operate in a legal gray zone.

Implications and Next Steps

Dr. Sullivan’s research suggests that a portion of the NBA’s star‑powered economy may be intertwined with illegal gambling activities that the league’s current policies do not fully address. While the NBA’s public stance remains unchanged, the growing body of evidence—both from academic studies and federal investigations—could prompt the league to tighten its rules. Potential reforms might include stricter monitoring of player and executive financial disclosures, expanded prohibitions on offshore betting investments, and closer collaboration with federal agencies that track gambling fraud.

For fans, the revelations add a layer of complexity to the already intricate world of sports betting. The NBA’s popularity, coupled with the ease of online wagering, means that any compromise of the league’s integrity could erode public trust. As the conversation around sports betting continues to evolve, stakeholders—including players, executives, regulators, and the fan base—will need to remain vigilant about the financial practices that underpin the game.

In conclusion, while the NBA has historically positioned itself as a guardian of fair play, the findings of finance professor Dr. Matthew K. Sullivan call for a reevaluation of the league’s stance on gambling. If the NBA’s leaders choose to address these concerns head‑on, it could set a new standard for transparency and integrity in professional sports—one that not only protects the sport’s reputation but also safeguards the millions of fans who place their trust and their money on the basketball courts.