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Or at least cease to exist as we currently know it. I'm OK with that. Why is it incumbent upon the University system to act as the minor league feeder system for the pros?
Colleges/Universities already have the infrastructure and system set up to be the minor leagues for football, bball, etc. The professional leagues, outside of baseball, do not have the desire to spend what it will cost to build that infrastructure and put that system in place. They would have to hire more coaches, trainers, front office people, lease buildings/offices, build/lease stadiums, etc...
Baseball is a different animal and cant be compared as it has had their minor league system set up since the beginning. Also I highly doubt the top players in football and basketball would enjoy playing in the minors like in baseball. The minor leagues in baseball is a horrible living experience for 95% of the minor leaguers. Outside of those drafted who receive large bonuses the rest of the guys are getting paid squat. They cant afford food so they eat like crap, most of them have 2nd jobs outside of baseball to take care of their family and themselves, they live in either host family homes or places worse than dorms, they travel on buses and most of the facilities are not equipped with the essentials for a weight training regiment. Not to mention they are under team control for 6 years and get paid an extreme discount until they are arbitration eligible or FA eligible after the 7th year.
I highly doubt the football players and bball players realize how great they have it right now compared to the lower level minor leaguers in baseball. Let them spend a year or 2 in the minor leagues of baseball and I'm sure they will change their minds of wanting to be paid. They have better housing, better transportation, better weight training and meal programs not to mention they are receiving a free education while making valuable connections for after college.