Who knows what the outcome of these investigations will be? It seems clear, however, that at least in basketball the shoe companies are right at the middle of the cheating. I'd be curious to see if they are also involved in football recruiting.
As for basketball: I'm sure that getting rid of shoe companies won't get rid of the cheating. Bill Self, and countless other coaches, will clearly try to find a new way.
I think the NCAA needs to step in and do away with contracts and connections to shoe companies. No more sponsorships, no more apparel deals, no more huge payouts to schools or coaches. Next, drop down a level and do the same. A player is involved with an AAU program that is sponsored by an apparel company? Not eligible. The AAU team played in a tournament sponsored by an apparel company? Not eligible. A high school team is sponsored by an apparel company? Not eligible.
Yeah, its heavy handed. Yes, it seems to fly in the face of a free market and capitalism. But, collegiate sports are their own world. The NCAA has rules against all sorts of things that are allowed in general society.