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The 75-300 is not a good lens. But if you're on a budget, you can get a used one for around $150.
If you find a lens you're interested in, google it, find out what the new and used price is and read some reviews.
Seems like you are leaning towards Canon, here is what I would suggest:
1. Amazon.com: Canon EOS Rebel T1i 15.1 MP CMOS Digital SLR Camera with 3-Inch LCD and EF-S 18-55mm f/3.5-5.6 IS Lens: Electronics
Brand new T1i with the 18-55mm EF-S f/3.5-5.6 IS lens
Also has a very good burst rate for the sports end of things
-should take care of most photo jurnalism stints
All the reviews I read on this lens said it was good for sports and does the job. Can I ask why this isnt a good lens?