NCAA Men's Championship Game - Kansas v Kentucky

NCAA passes $500 million in net assets

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Non-profit, eh? 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.

VIDEO: Utah Valley’s Mark Pope dances, lip syncs with daughters

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New Utah Valley head coach Mark Pope made quite an impression on fans at the team’s Midnight Madness celebration last night. That’s because Pope did a dance and lip sync routine with his four daughters that turned out to be pretty impressive.

The former BYU assistant looks to be the leader in the clubhouse for best coach dance so far this preseason. We’ll see if any other coaches pull out elaborate routines at madness celebrations the next few weeks.

UConn commit tears ACL for second time

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UConn commit Juwan Durham, a four-star big man in the Class of 2016, has torn the ACL in his right knee for the second time in seven months. The Florida native committed to the Huskies and head coach Kevin Ollie back in September. The 6-foot-9 forward is regarded as the No. 31 overall prospect in the national Class of 2016, so he can really be a force when he’s healthy.

In a report from’s Bob Putnam, UConn was notified of the injury immediately and there is no change in plans with the commitment. The Huskies also own commitments from four-star point guard Alterique Gilbert and three-star power forward Mamadou Diarra in the Class of 2016. Having Diarra, an active, rim-protecting presence, helps with Durham’s recovery, since he can provide some more front court depth.

If Durham rehabs back to full speed, UConn has a very talented power forward who was just hitting his stride in the Florida state playoffs last February. UConn has a nice class so far with this group, especially if Durham can recover, With a year to recover until next season, Durham can hopefully play during his freshman season in 2016.