That seems likely.
I have also heard speculation that it was a dispute over a girl.
Everything I've heard about it so far, since it happened:
He was armed with a knife.
He was at a track meet that he had no reason to be at. He isn't on the team, no one in his family was partaking.
He was going from tent to tent, rummaging through other people's things. (Each of the tents are owned by individuals, not by the location they were at).
The victim had confronted him when he noticed he was going through his things.
The thug threatened him, daring him to try to do something about his rummaging.
The victim didn't like this thug going through his things, so put his hands on him to try to get him out of his tent.
The thug pulled out his knife and stabbed the victim in the heart.
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As for other details:
A GoFundMe was set up, but was taken down fairly quickly.
They put up another fundraiser on another site, which apparently managed to gather around $500k.
Bail had originally been set to $2M (iirc), but the (black, female, and clearly an activist) judge lowered it to $250k, so he's currently on house arrest with an ankle monitor, instead of in jail.
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Rumors (unconfirmed):
Reports that his family used the remaining money to buy a mansion. (Edit April 16th: see post #9 blow)
Apparently they delayed releasing the footage of the stabbing so that it would be easier to let him out on bail.
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This dude's a scumbag who needs to be behind bars, and a murderer who needs to be put to death (upon conviction).
The judge, who is clearly a DEI hire, should be disbarred, and arrested for letting a murderer, for the most part, get away with his crime. Activist judges should not be judges.