Wednesday briefing: Obama-Trump dispute; tariff impacts; Ozzy Osbourne; William Anthony McNeil Jr.; and more
Trump said the U.S. has a deal with Japan to lower proposed tariffs.
The rock world is paying tribute to Black Sabbath legend Ozzy Osbourne.
Officers who punched a Black man during an arrest will not be charged.
U.S. Olympic officials effectively barred trans women from women's competition.
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Yahoo
27 minutes ago
- Yahoo
Trump can't save Olympic sports through executive order, but he can by funding them
There is probably little good that can come from President Trump's executive order on college sports given that it's legally questionable, vaguely written in terms of enforcement and an unpredictable stick of dynamite thrown into the middle of legislative movement on the current SCORE Act making its way through the House of Representatives. But rather than trying to limit by presidential edict how and what college athletes get paid, there is something Trump could do that would address one of the major concerns for his administration. Much of the executive order focuses on protecting opportunities for Olympic sport athletes. With athletic budgets getting squeezed by up to $20.5 million going directly to athletes thanks to the House vs. NCAA settlement, there's widespread fear that non-revenue programs across the country will be on the chopping block. And given the NCAA's role as the de facto development system for much of America's success at the Olympics every four years, a significantly smaller allotment of scholarships could mean both fewer educational opportunities for young people and an erosion of America's standing on the medal table. So here's a suggestion for the Trump Administration: Want to leave a legacy for Olympic sports? Use government money to fund them. Dan Wolken: Attempts to curb payments to college athletes keep failing. There's only one way forward. In nearly every country around the world except the United States of America, federal dollars are funding Olympic sports programs. But here, it's the responsibility of the U.S. Olympic and Paralympic Committee and college athletic departments. The former is funded by corporate sponsorships and private donations. The latter is funded by college football. That system, imperfect as it may be, has worked for a long time. If it doesn't work anymore because the economics of college sports have changed, then we need to tweak the system. And if international domination of swimming, track and field and gymnastics is a priority for America, then what's the problem with taxpayers having a little skin in the game? It's not as if public dollars paying for sports is a new concept in this country. You can find the evidence by driving past nearly any pro stadium or arena if you live in a major city. Surely there are some smart people who can figure out how to build a federally funded joint partnership between the USOPC, various National Governing Bodies and the NCAA that coordinates and supports elite athlete development in a handful of Olympic sports that matter most, allowing schools to focus on providing opportunities and educating those who need athletic scholarships to attend college. Admittedly, this idea is a little radical, potentially impractical and rife with unintended consequences. But one way it could work, at least in theory, is that a certain percentage of the top American recruits in the key Olympic pipeline sports would go into a recruiting pool. When they choose a school, this government-funded organization would pay for the four-year scholarship, attach an NIL payment for the athlete to represent the organization and provide a grant to the school as reimbursement for the development cost. To make it more equitable, schools would be limited to a certain number of recruits every year from that elite pool of athletes. The rest of the roster would be filled with either foreign athletes or non-elite American recruits that they must pay for themselves. One obvious criticism of this plan is that smaller schools would get squeezed out even further, given that they're more likely to have a budget crisis than a Texas or an Ohio State and less likely to recruit elite athletes. This might require the NCAA to rethink how it stratifies schools into three divisions and instead move toward a two-tiered model where you either meet certain scholarship and funding standards to be in the Olympic development division or compete in the non-Olympic division, which would functionally be more like intramural or club sports. And maybe none of this is workable. But the point is, it's time to come up with some creative, bold solutions rather than just whining about how schools can't afford to pay for their non-revenue sports anymore. For many, many years, the USOPC has gotten a free ride on the back of the NCAA system, which has only been possible because universities illegally colluded not to share revenues with the athletes that played a significant role in generating them. But the good news is, all the systems are in place to keep Team USA's supremacy intact. There has to be a way for more formal collaboration between the USOPC and the NCAA that can save scholarships, development opportunities and teams from being cut. It just needs the funding. And the federal government can make that happen. Trump can make that happen. If he wants a real and lasting legacy as a president who kept the Olympic movement stable at a time of necessary change in college sports, that's how he can do it. Not an executive order destined to be picked apart and ultimately made irrelevant. This article originally appeared on USA TODAY: Donald Trump can't save Olympic sports through EO, but could do this
USA Today
28 minutes ago
- USA Today
Trump can't save Olympic sports through executive order, but he can by funding them
There is probably little good that can come from President Trump's executive order on college sports given that it's legally questionable, vaguely written in terms of enforcement and an unpredictable stick of dynamite thrown into the middle of legislative movement on the current SCORE Act making its way through the House of Representatives. But rather than trying to limit by presidential edict how and what college athletes get paid, there is something Trump could do that would address one of the major concerns for his administration. Much of the executive order focuses on protecting opportunities for Olympic sport athletes. With athletic budgets getting squeezed by up to $20.5 million going directly to athletes thanks to the House vs. NCAA settlement, there's widespread fear that non-revenue programs across the country will be on the chopping block. And given the NCAA's role as the de facto development system for much of America's success at the Olympics every four years, a significantly smaller allotment of scholarships could mean both fewer educational opportunities for young people and an erosion of America's standing on the medal table. So here's a suggestion for the Trump Administration: Want to leave a legacy for Olympic sports? Use government money to fund them. Dan Wolken: Attempts to curb payments to college athletes keep failing. There's only one way forward. In nearly every country around the world except the United States of America, federal dollars are funding Olympic sports programs. But here, it's the responsibility of the U.S. Olympic and Paralympic Committee and college athletic departments. The former is funded by corporate sponsorships and private donations. The latter is funded by college football. That system, imperfect as it may be, has worked for a long time. If it doesn't work anymore because the economics of college sports have changed, then we need to tweak the system. And if international domination of swimming, track and field and gymnastics is a priority for America, then what's the problem with taxpayers having a little skin in the game? It's not as if public dollars paying for sports is a new concept in this country. You can find the evidence by driving past nearly any pro stadium or arena if you live in a major city. Surely there are some smart people who can figure out how to build a federally funded joint partnership between the USOPC, various National Governing Bodies and the NCAA that coordinates and supports elite athlete development in a handful of Olympic sports that matter most, allowing schools to focus on providing opportunities and educating those who need athletic scholarships to attend college. Admittedly, this idea is a little radical, potentially impractical and rife with unintended consequences. But one way it could work, at least in theory, is that a certain percentage of the top American recruits in the key Olympic pipeline sports would go into a recruiting pool. When they choose a school, this government-funded organization would pay for the four-year scholarship, attach an NIL payment for the athlete to represent the organization and provide a grant to the school as reimbursement for the development cost. To make it more equitable, schools would be limited to a certain number of recruits every year from that elite pool of athletes. The rest of the roster would be filled with either foreign athletes or non-elite American recruits that they must pay for themselves. One obvious criticism of this plan is that smaller schools would get squeezed out even further, given that they're more likely to have a budget crisis than a Texas or an Ohio State and less likely to recruit elite athletes. This might require the NCAA to rethink how it stratifies schools into three divisions and instead move toward a two-tiered model where you either meet certain scholarship and funding standards to be in the Olympic development division or compete in the non-Olympic division, which would functionally be more like intramural or club sports. And maybe none of this is workable. But the point is, it's time to come up with some creative, bold solutions rather than just whining about how schools can't afford to pay for their non-revenue sports anymore. For many, many years, the USOPC has gotten a free ride on the back of the NCAA system, which has only been possible because universities illegally colluded not to share revenues with the athletes that played a significant role in generating them. But the good news is, all the systems are in place to keep Team USA's supremacy intact. There has to be a way for more formal collaboration between the USOPC and the NCAA that can save scholarships, development opportunities and teams from being cut. It just needs the funding. And the federal government can make that happen. Trump can make that happen. If he wants a real and lasting legacy as a president who kept the Olympic movement stable at a time of necessary change in college sports, that's how he can do it. Not an executive order destined to be picked apart and ultimately made irrelevant.
Yahoo
an hour ago
- Yahoo
Michael Saylor Amps Up Bitcoin War Chest With $2.8 Billion Sale
(Bloomberg) -- Michael Saylor's one-of-a-kind capital markets machine just got bigger. Trump Awards $1.26 Billion Contract to Build Biggest Immigrant Detention Center in US The High Costs of Trump's 'Big Beautiful' New Car Loan Deduction Can This Bridge Ease the Troubled US-Canadian Relationship? Salt Lake City Turns Winter Olympic Bid Into Statewide Bond Boom As crypto prices continue to boom, Saylor's Bitcoin holding company, Strategy launched a new kind of preferred stock, and then promptly upsized the deal from $500 million to $2.8 billion, according to a person familiar with the transaction who asked not to be identified. The security that priced on Thursday, which the company is calling Stretch, promises buyers a hefty 9% annual payout, with no end date attached — unusual in the arcane world of preferred stock offerings. The deal offered the latest demonstration of Saylor's Wall Street wizardry as he continues his years-long effort to transform a middling software firm, which used to be known as MicroStrategy, into a financial juggernaut obsessed with one goal: raising as much money as possible to acquire as many Bitcoin as possible. Some 600,000 coins, or around $70 billion worth at last count. Since Strategy's first purchase in 2020, Saylor has sold equity, issued various types of debt and layered stacks of preferred shares on top. In the process, he has encouraged a fleet of imitators and spurred a new industry of public companies following a so-called treasury strategy dedicated to buying and holding cryptocurrencies. Many of the previous financial instruments that have fueled Strategy's rise have ended up being more popular than expected, but even against that backdrop the demand for Stretch was notable. The company's common shares rose 0.5% on Wednesday, and are up 43% for the year. In Strategy's complicated and unusual capital structure, the new shares sit above the company's common stock and its other preferred shares — which carry names like 'Strike' and 'Stride' — but remain subordinate to its convertible bonds and a preferred stock known as 'Strife.' Unlike those earlier offerings, Stretch allows Strategy to tweak the dividend. Each month, the firm will set a new payout rate aimed at keeping the share price near $100, raising or lowering the level as needed. It's part pricing model, part trust exercise, and a clear reminder that Strategy creates its own rules. That flexibility may appeal to Saylor's large fan base of retail investors, but it also adds a fresh layer of uncertainty to an already complex capital structure. And there are signs that Saylor's tactics may be hitting up against somewhat diminishing returns. The value of the company, relative to the Bitcoin it owns, has gone down. In its latest offering, Strategy offered the Stretch shares at a discount to win over investors. The shares, which are set to carry an initial dividend of 9%, are being sold for $90 each, the bottom of a marketed range and a discount to their face value of $100, according to the person familiar with the deal. But the outsized demand for the deal provides the latest sign of both Saylor's avid following and the continued speculative fervor running through the markets. Morgan Stanley, Barclays Plc, Moelis & Co. and TD Securities worked on the deal, Bloomberg previously reported. --With assistance from Dave Liedtka and Yiqin Shen. Burning Man Is Burning Through Cash Elon Musk's Empire Is Creaking Under the Strain of Elon Musk It's Not Just Tokyo and Kyoto: Tourists Descend on Rural Japan A Rebel Army Is Building a Rare-Earth Empire on China's Border Confessions of a Laptop Farmer: How an American Helped North Korea's Wild Remote Worker Scheme ©2025 Bloomberg L.P.
