||11-17-2011 10:06 PM
NCAA making money, hand over fist
NCAA Internal Finance Figures Surface | ThePostGame
Someone at the NCAA headquarters in Indianapolis is going to have a lot of explaining to do after closely guarded financial statements from the organization were leaked online for the world to see...
...Deadspin reports the NCAA took home $693.2 million in revenue in 2008. A majority of that cash came from March Madness which saw Kansas, Memphis, North Carolina and UCLA – all No. 1 seeds – reach the Final Four at the Alamodome in San Antonio. Bill Self's Jayhawks beat John Calipari's Tigers in the championship game.
Just over 51 percent ($359 million) of the 2008 NCAA revenue went back to Division I schools, with slightly more than 33 percent ($230 million) used to stage championship events. Another $26 million (3.7%) was headed to the NCAA's "management and general fund," leaving 3.4 percent ($24 million) in profit.
In addition, Deadspin reports the NCAA had invested a breathtaking $356 million in different financial markets....
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