ESPN insider Adam Schefter usually makes headlines because of a groundbreaking report involving an NFL player or team. On Thursday, he's being talked about due to his involvement with a gambling company.
According to Timothy L. O’Brien of Bloomberg.com, Schefter has recently invested in Boom Entertainment. The company is responsible for making sports and casino gambling apps.
Schefter isn't the only notable investor in Boom Entertainment. It turns out New England Patriots owner Robert Kraft has also invested some money into the company. While there are some minor concerns that Schefter could be change how he covers the Patriots because of his connection with Kraft, that seems unlikely.
The real concern, however, is that Schefter's involvement with Boom Entertainment could affect how he reports NFL news in the future.
"Schefter’s stock in trade are football scoops such as new contracts, trades, injuries, starting line-ups and the other gossipy stuff that gives viewers a sense of who’s up or down, and who might win or lose," O'Brien wrote, via Bloomberg.com. "That information is also valuable to gamblers — or anyone who might own, say, a sizable stake in a newfangled gambling company interested in digital sports betting. Viewers, and Schefter’s 8.5 million Twitter followers, might end up wondering whether he will shade his opinions or bury important information if he directly or indirectly has money riding on games and athletes."
O'Brien asked ESPN if the network had a conflicts of interest policy outlining "ethically acceptable investments for its employees," like Schefter's investment in Boom Entertainment. ESPN declined to say whether it has that kind of policy.
It'll be worth monitoring this situation for the foreseeable future, especially if Schefter is allowed to go through with this investment.