Bill seeks to end 'vulture practices' in kids sports: What it means
A new bill introduced in Congress takes aim at private equity's involvement in youth sports. Here's what it means for athletes and their parents.
WASHINGTON — What's best for our kids? What’s best for our family? Those should be the central questions, Sen.
Chris Murphy (D-Connecticut) says, of youth sports. “Instead, private equity owners ask,” Murphy said, “‘What can make me the most money? ’” Murphy was speaking Wednesday, May 13, at the U.
S. Capitol as he and Rep. Chris Deluzio (D-Pennsylvania), introduced the Let Kids Play Act , a new federal bill that takes aim at private equity firms operating within youth sports.
The bill defines what the Congress members call “vulture practices,” such as requiring that families stay at specific hotels for kids sports tournaments, and adds momentum to a Congressional hearing in December that addressed what it called a “crisis” in the industry . Lawmakers have stated such firms are profiting from families' fear of missing out with their sons’ and daughters’ athletics. The youth sports industry generates more than $40 billion in annual revenue and is fueled by parents often paying thousands of dollars per kid to participate.
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