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Syracuse forward C.J. Fair answers questions following the Orange's loss to Michigan in the Final Four.

(Lauren Long | llong@syracuse.com)

C.J. Fair is worth a million bucks. No, seriously, he is. And that might be underestimating it.

While Syracuse fans know that the forward is probably going to be the most valuable player for the Syracuse men's basketball team next season Time Magazine recently put a number on his additional value to Syracuse University — $943,478.

Fair snapped a picture from the article recently and wrote, "I didn't know I would make this much. ... if only tho (sic)."

In the Time Magazine piece (subscription only), author Sean Gregory took the business model for the NBA, where the collective bargaining agreement provides players approximately 50 percent of the revenue generated by the league, and applied it to college sports.

From government Title IX documents, the magazine determined that the Orange basketball program reported $25,888,761 million dollars in revenue in 2011-12.

Fair's estimated value to the school was 50 percent of that total divided by 13, the number of scholarships offered on an NCAA men's basketball team. Gregory then subtracted the value of Fair's room and board of just more than $52,000.

That methodology, of course, is incredibly simplistic and was used to showcase what some believe is a huge disconnect in college sports, where players make money for all those around them but are unable to profit themselves.

By using this methodology, the magazine concluded that every SU scholarship player has the same value. Fair is a star and fan favorite and would likely have the most value of any SU player.

If you assume Fair could also be making money from endorsements like members of the SU coaching staff do, and that his skills would be worth more than the last guy off the bench in an open market, Time could have claimed that forward's actual worth is even higher.

Under current rules, Fair is entitled to his scholarship and some per diem money, a nice setup to be sure, but nowhere near what the magazine states his worth to the university is.

Time's inclusion of Fair came in its recent cover story on Texas A&M quarterback Johnny Manziel and the lack of financial compensation for college athletes, a debate that has roared over the summer as athletes have allegedly tried to cash in on the love affair between the country and collegiate sports.

Manziel has been one of the biggest stories in sports this year, accused of selling his signature to autograph dealers. In the past two weeks, Sports Illustrated has released a five-part series that includes accusations of players at Oklahoma State being paid, and Yahoo! Sports alleged this week that five SEC players took money that trickled down from agents and financial advisers.

As all this is occurring, Ed O'Bannon is suing the NCAA in a federal antitrust lawsuit that some think will change the landscape of college sports and end amaturism, claiming that players deserve a piece of the NCAA's television and marketing deals.

So what's your take on the NCAA's great debate? Should Fair be able to take advantage of his value while he's a Syracuse star? Or is his scholarship reward enough?