Person entered the plea on Tuesday in Manhattan federal court, averting a June trial.
Prosecutors say he accepted $91,500 in bribes to steer players with NBA potential to a financial adviser.
Person’s plea falls in line with those entered by three other former assistant coaches at major college basketball schools. Those ex-coaches are awaiting sentencing, and their terms are likely to be measured in months rather than years.
Person, former associate head coach at Auburn, was drafted by the Indiana Pacers in 1986 and played for five NBA teams over 13 seasons.
His sentencing is scheduled for July 9.