Friday, July 3, 2015

Why Ivy League sports matter

How Penn and other Ivy schools use college athletics to network and land the big jobs and contracts

Why Ivy League sports matter

0 comments

Here's a story for every NCAA football or basketball fan who wonders why the Ancient Eight (Harvard, Yale, Princeton, Penn, etc.) and other braniac schools bother with the time and expense of fielding Division I teams when they almost always get whipped by the big-name state schools and very few of their players go on to the pros:

It's not really about sports. It's about contacts, contracts, and jobs.


"Penn’s athletic board of overseers includes:

- George Weiss, founder of the George Weiss Associates Inc. hedge fund in Hartford, Connecticut;
- Robert Wolf, chairman and chief executive officer of UBS Group Americas in Stamford, Connecticut; and
- Mark Werner, the former JP Morgan Securities Inc. vice chairman who is co-founder and CEO of Pierpont Securities LLC, also in Stamford...

'We call them our alumni mafia,'” says Quaker football coach Al Bagnoli. These guys and other sports-oriented alumni provide internships, recommendations, jobs and "insights into a company's needs" as athletes use their Ivy League degrees to get real jobs.  Bloomberg story here.



0 comments
We encourage respectful comments but reserve the right to delete anything that doesn't contribute to an engaging dialogue.
Help us moderate this thread by flagging comments that violate our guidelines.

Comment policy:

Philly.com comments are intended to be civil, friendly conversations. Please treat other participants with respect and in a way that you would want to be treated. You are responsible for what you say. And please, stay on topic. If you see an objectionable post, please report it to us using the "Report Abuse" option.

Please note that comments are monitored by Philly.com staff. We reserve the right at all times to remove any information or materials that are unlawful, threatening, abusive, libelous, defamatory, obscene, vulgar, pornographic, profane, indecent or otherwise objectionable. Personal attacks, especially on other participants, are not permitted. We reserve the right to permanently block any user who violates these terms and conditions.

Additionally comments that are long, have multiple paragraph breaks, include code, or include hyperlinks may not be posted.

Read 0 comments
 
comments powered by Disqus
About this blog

PhillyDeals posts drafts, transcripts and updates of Joseph N. DiStefano's columns and stories about Philly-area business, which he's been writing since 1989.

DiStefano studied economics, history and a little engineering at Penn and taught writing at St. Joseph's. He has written thousands of columns and articles for the Inquirer, Bloomberg and other media, wrote the book Comcasted, and raised six children with his wife, who is a saint.

Reach Joseph N. at JoeD@phillynews.com, distefano251@gmail.com, 215.854.5194 or 302.652.2004.

Reach Joseph N. at JoeD@phillynews.com or 215 854 5194.

Joseph N. DiStefano
Also on Philly.com:
letter icon Newsletter