Grayson Weir
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College athletics, like anything, do not function without financial support and Syracuse may have bit the hand that feeds it. The Orange’s top booster has vowed not to back the school’s athletes through Name, Image and Likeness.
Adam Weitsman is disassociating from the university and from the basketball program in particular.
The 54-year-old, who owns a scrap metal processing company in upstate New York, has an estimated net worth of more than $1,000,000,000. That’s billion with a B.
Weitsman is a billionaire who pumps a large amount of money into Syracuse athletics. He frequently sits courtside at the Carrier Dome alongside high-profile celebrities and athletes— from Tom Brady to Pete Davidson to Giannis Antetokounmpo and countless others.
Weitsman promised to pay more than $2 million in NIL deals to current and future Syracuse athletes earlier this year. That is a huge contribution in an era where financial opportunity can lead a team deep into the postseason— just ask Miami.
Syracuse was on a similar path.
As such, Weitsman predicted that his financial backing would help the basketball team reach the national championship within five years. So much for that!
Weitsman cited Syracuse chancellor Kent Syverud as his reason for stepping away. The two have never met, even though the latter has been in his role since 2014, but the former recently got a bad vibe.
From what I understand, hearing it from sources at the university, he did not like the high-profile nature of the celebrities coming to games and the way I was going about NIL, discussing it with the media.
— Adam Weitsman, via Syracuse.com
In response to the pushback from Syverud, Weitsman is bowing out. He only knows how to do things his way, so if that isn’t working, then he’s good.
He was not comfortable with that, but the only way I knew to go about doing NIL is to do it high-profile. We’re in Syracuse, New York. We have to bring attention to our area.
Even though I didn’t go to Syracuse, I love Syracuse athletics and every single person that works there. But I’m not the boss. If the boss doesn’t want me there, I understand.
— Adam Weitsman, via Syracuse.com
Although NIL is not everything, it is a crucial piece to the puzzle in today’s era of recruiting and the transfer portal. Weitsman’s money, or lack thereof rather, will hurt. The courtside celebrities? Maybe not as much. But $2 million in NIL money is a big loss.
Kent Syverud has NEVER been in a position of having to deal with an athletics program in his previous positions as Dean at Vanderbilt University School of Law and George Washington University School of Law. He’s been in charge at Syracuse for 10 years. He’s certainly never had to deal with folks having such a visible role in university business.
He doesn’t like a guy like Adam Weitsman from the unwashed masses of non-Syracuse people having as much influence or so much attention.
He said so and the businessman decided that if he ain’t wanted, he’ll just wander away and find somewhere else to put his money.
I don’t blame Adam at all.