The NCAA had nearly $872 million in total revenue in the 2012 fiscal year, according to a report from USA Today’s Steve Berkowitz.
With around $801 million is total expenses, the NCAA recorded a surplus revenue of $71 million, which sounds like a huge number until you consider that it’s about 10% of the money generated annually by the NCAA’s broadcasting contract with CBS and Turner.
There’s also this, from the report:
The surplus, an all-time best for the organization, increased its year-end net assets to more than $566 million, roughly double where they stood at the conclusion of the 2006 fiscal year.
Among the NCAA’s $530 million in unrestricted assets was an endowment fund that had grown to more than $282 million as of the end of its 2012 fiscal year, Aug. 31. That’s more than double what the fund was worth six years earlier.
Of the $872 million in revenue generated by the NCAA this year, $504 million was distributed to Division I schools, $115 million on association-wide programs and $38.3 million on management and general spending.
Too bad those piles and piles of money isn’t enough to give the people generating them a fair cut of the profits.
You can find Rob on twitter @RobDauster.
Illinois suffered another blow in what has already turned out to be a brutal season.
Mike Thorne is expected to miss the rest of the season after tearing his meniscus. He reportedly underwent surgery on Monday to repair the injury.
Thorne, a transfer from Charlotte, was starting at center for the Illini and doing a good job of it as well. He was averaging 13.4 points and 8.4 boards, although Illinois has started off the season 3-4.
The reason for that slow start has mainly been those injuries. Tracy Abrams is already out for the season after tearing his achilles, and the Illini training room looked like a M.A.S.H. unit. Kendrick Nunn just returned two games ago from surgery to repair a torn thumb ligament. LeRon Black is still getting back to speed after offseason knee surgery. Jaylon Tate is back after dislocating a finger. Jalen Coleman-Lands was slowed by a stress fracture.
John Groce entered this season on the hot seat, and dealing with all of these injuries certainly isn’t helping his cause.
We talk about a lot of stuff of the podcast today, mainly because a lot of stuff happened since we last spoke with you all.
For starters, we need to discuss the ‘realness’ of Syracuse and Xavier. Are they both truly top 15 teams, or do they just have top 15 resumes? We also dive into Chris Mack’s epic troll-job of Dayton at the Advocare Invitational final.
Other topics we touched on: Whether or not Scott is ever going to apologize to Wayne Selden, Wichita State’s tournament hopes, Texas A&M and whether we’d take Ben Simmons, Kris Dunn or Denzel Valentine today.
As always, you can subscribe to the podcast in iTunes right here. It’s the quickest way to get access on your cell phone or tablet.