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TheStreet Open House

The NCAA Needs a Manziel Amendment

NEW YORK ( TheStreet) -- This Johnny Manziel thing is getting beyond ridiculous. Seriously, I've had it up to here with it. I'll admit, I used to think that college athletes shouldn't whine and complain all that much. They have it made: College football limelight, national superstars, free tuition and living. But sometimes, it's not all what it's cracked up to be.

After I read this piece about Johnny Manziel and his family, my thoughts changed considerably. I highly suggest reading it if you have not yet. As my father said after reading it, "the media is going to kill this kid and his family."

I know, I know. He wanted the fame. He wanted all the Twitter followers and attention. Until it got to the way it is today. Now there are claims that Manziel signed memorabilia for a broker and in exchange, received a couple thousand dollars. Is this a rumor turned NCAA investigation, or is it legitimate? We don't know yet, but we know it won't go away anytime soon.

Before I argue the fact that he should be able to do this, why on Earth would he? If you read the article above, Johnny's father, Paul Manziel, comes right out and says his family is very well off due to the family oil trust.

Johnny drives a new Mercedes-Benz because his father was worried that he may obtain it in an illegal manner if the family didn't buy him one. He sits court side at NBA games and hangs out with celebrities. It makes no sense that he would risk his entire collegiate, and therefore, professional career for a lousy couple of grand, especially when he has legal access to it from his family.

Everyone makes money on these athletes, except for them of course. Before getting blasted, I do understand both sides, sort of. I get that tuition, room and board, tutoring and all that jazz is expensive. But it's not like the schools are losing money because of it.

Why? Because they make millions -- in some cases, in excess of $100 million per year from football alone, such as the University of Texas -- which will pay for athletes' tuition and tutoring for the next 1,000 years. In fact, the top 15 schools combined for a total of $1 billion in revenue in 2010 and the NCAA's pull exceeded $870 million dollars for the 2011-2012 season.

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