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March Madness Biz Notes

Friday, 21 Mar 2008 | 9:03 AM ET
CNBC.com

CBSSports.com is allowing fans to create their own highlight clip set to the song "One Shining Moment," which will play for the 22nd straight year at the end of this year's tournament. Last night, I caught up with "One Shining Moment" composer David Barrett who licensed the rights to CBSSports.com for the highlight clips this year. "I'm really glad CBS decided to do something with this," Barrett told me.

Barrett said that he does receive checks from iTunes as a result of cashing in off the song, but "it's not like I'm doing as well as the girl who was with Eliot Spitzer," Barrett said, making reference to Ashley Dupre, who reportedly made more than $200,000 in digital downloads in a week.

The Duke Blue Devils beat the Belmont Bruins 71-70 last night. They probably should have. And I'm not talking about the fact that Duke was a No. 2 seed and Belmont was a No. 15 seed. According to the most recent numbers filed with the Department of Education (from the 2006-07 season), Duke spent $106,770 on every basketball player, while Belmont spent $13,671 on every basketball player.

So by that measure the game shouldn't have been so close. The oddsmaker didn't think the game shouldn't have been so close either. Not only was Duke a 20-point favorite, but they had Duke's odds of winning the West region (I know, still could happen at 3 to 1) Belmont's? 300 to 1.

Questions? Comments? SportsBiz@cnbc.com

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