USAToday.com reported Monday that the NCAA has now surpassed $500 million in net assets, including a $260 million endowment fund.
The information provided is a result of “an examination of the NCAA’s previous audited financial statements and membership reports, its federal income tax returns and a series of interviews and e-mails with association executives,” according to the story.
In all, the analysis showed that the NCAA’s spending went to as much as $800 million, with an all-time high of $503 million being distributed to Division I schools. The analysis showed that the NCAA made at least $860 million during the 2012 fiscal year.
“We are not speculating on our year-end numbers,” spokesman ErikChristianson said via e-mail. “But we expect to post a surplus at the end of the year and make a supplemental distribution to our members after receiving final audited financial results.”
Another crazy finding? A large amount of the NCAA’s money comes from the television rights they gave to CBS and Turner Broadcasting for the NCAA Tournament, which pulled in $666 million in 2012. Along with the $18.8 million provided from ESPN’s rights to the women’s tournament, the total percentage of revenue provided is 80-percent. Insane.
There are a lot of numbers in the article, with great research provided by USAToday. The bottom line is that the NCAA is making a ton of money off these college kids and coaches in the midst of heated debate over whether college athletes should get paid, which is another blog for another time.
The NCAA is making a ton of bank and distributing it among the schools, including a huge endowment. This should stir the pot in this debate of paying college athletes.
But mainly, this is an eye-opener to anyone wondering exactly what type of profit the NCAA brings in. College sports is more and more looking like a business.
David Harten is the editor of The Backboard Chronicles. You can follow him on Twitter at @David_Harten.
CHAPEL HILL, N.C. — He’s back.
For the first time this season — and for the first time in more than a year that he hasn’t been hampered with some kind of foot or ankle injury — Marcus Paige donned a North Carolina jersey, and it didn’t take him long to find the form that made him the NBCSports.com Preseason National Player of the Year.
On the first Tar Heel possession, Paige came off of a ball-screen, drove the lane and found Kennedy Meeks at the rim for a layup. Not 30 seconds later, he came off of a down screen and buried a three. Paige would finish with 20 points and five assists as No. 9 North Carolina put together a fairly resounding win over No. 2 Maryland in the Dean Dome on Tuesday night, winning 89-81.
Paige finished 7-for-12 from the floor and 4-for-5 from beyond the arc, hitting a number of threes in the second half that helped hold off a Maryland push sparked by their own all-american point guard, Melo Trimble.
Trimble was erratic early on, committing three turnovers in the first six minutes and eight on the night, but it was his play at the end of the first half and early second half that kept North Carolina from blowing their doors. At one point, Maryland was down 32-19 and in danger of getting run out of Tobacco Road.
In total, Trimble finished with 23 points and 12 assists, hitting four big threes during that stretch. He either scored or assisted on 11 of Maryland’s first 12 second half field goals.
As good as Paige was, the bigger story may actually be Joel Berry II. He took two dumb threes in the first half — which played a role in Maryland being able to make this a game — and he missed a few free throws late, but overall he was terrific. He finished with 14 points and five assists, making 3-of-5 threes and turning the ball over just twice. He’s clearly beat Nate Britt out at the point guard spot, and his ability to take pressure off of Paige as a secondary ball-handler and playmaker is huge.
(More to come from Chapel Hill…)
North Carolina is hosting No. 2 Maryland in a heated contest in the ACC/Big Ten Challenge. Terps sophomore guard Melo Trimble is playing very well and part of his performance was dropping North Carolina’s Nate Britt with a crossover in the second half.
(H/T: The Cauldron)