Excerpt:
If we simply paid athletes, coaches would still have value but not nearly as much. For example, suppose Louisville has the best college coach in the country, but offered an athlete a salary of $20,000 in addition to the full scholarship. Suppose UCLA had the 10th best coach, but offered that same athlete a salary of $35,000. You could imagine that many of the athletes in this situation would choose to take the higher salary over the best coach.
