Briefly, here's the baics... libel is written and slander is spoken.
Here the players likely don't have a case for two reasons. One, truth is an absolute defense to libel. Not every detail in the article has to be true, just the substance of it.
Second, there is a heightened barrier for "public figures".... a label courts have applied to lots of different plaintiffs, and an area where a concrete definition has largely been elusive. Since the 60's the law requires that a public figure prove that the defendant knew what he was saying was false, or very-likely false. This differs from ordinary persons who just need to show you lied about them, it was published (made public to others), and you suffered damages. Public figures need to show the defendant knew what he was saying wasn't true. And you don't need to be the President or Charlie Sheen to qualify as a public figure, courts have recognized a limited-purpose public figure.
Two things to consider in determining if the player is a public figure for this limited purpose; 1) Did they interject themselves into a controversy? If they commented on their recruiting process, or potential violations, to the press, then that is one factor a court would consider. 2) Another factor to weigh is whether their position of prominence (even just as a star HS athlete) gives them a high degree of access to the media, and an ability to counter criticisms that ordinary persons probably cannot.
That would be the crux of any legal argument; if the the gist of the article is not "true", and if the player is a public figure and therefore needs to prove Borzello knew he was lieing.