Report: Wichita State lost money during its Final Four run last spring

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The prospect of an athletic department losing money during postseason play isn’t all that shocking, as it’s something we’ve become used to seeing in major college football. But this isn’t seen to be the case in college basketball, with their being four postseason events (as opposed to 35 bowl games) and the NCAA tournament raking in all kinds of revenue dollars for the NCAA and its participating conferences and schools.

And when a team that hasn’t seen as much of the national spotlight as the “usual suspects” makes a deep run, the benefits of increased national exposure include an increase in apparel money and more often than not an increase in applicants as well. Those are rewards that Wichita State will likely reap due to their run to last season’s Final Four (and their hot start to the current season) in the years to come.

However according to a report from Forbes Magazine, the Shockers actually lost money in the short-term. The program saw its expenses, in which Forbes included coaching bonuses, rise to $5.4 million last season with extra travel being one area of impact. While that isn’t a large sum for say, a Kentucky or Kansas, that isn’t exactly a small amount for a program that doesn’t receive as much national attention.

But while direct spending skyrocketed, the prize money payouts were minimal. The NCAA’s tournament distributions are spread out over six-year rolling periods, with conferences receiving around $1.5 million for every tournament game played by member schools. Put another way, that means Wichita State’s performance last year will net the Missouri Valley Conference more than $7.5 million over the next six years.

That number shrinks quite a bit, however, when broken down to the per-school level. Rege Klitzke, the head of the Wichita State Athletic Department’s business office, says that, after the conference gets a share, the NCAA distribution amounts to an extra $70,000 to $80,000 for the school each year. According to Klitzke, “From a strictly numbers standpoint, [the financial gains] are not as substantial as some people tend to think.”

Once again, this is merely a short-term “loss” that more than a few athletic departments experience during the month of March. But given the long-term benefits and the essentially “free” advertising that can come as a result of a deep tournament run, it’s a trade-off any school would be willing to make.

h/t Matt Norlander

LaSalle parts ways with longtime head coach Dr. John Giannini

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La Salle announced on Friday that they are parting ways with head coach John Giannini.

Giannini had been the head coach of the program for 14 seasons, amassing a record of 212-226. Before taking over at La Salle, he spent seven seasons as the head coach at Rowan and eight seasons coaching at Maine.

“Today Bill Bradshaw and I mutually agreed that La Salle University could benefit from a new voice in leading the program,” said Dr. Giannini. “It is difficult to admit this but I have given every effort possible for success and I have received nothing but support and encouragement from Bill and President Hanycz. Greater things may be accomplished for this storied program and great university with the approach of a new coach. I am forever grateful, especially to my loyal staff and dedicated student-athletes. I look forward to my next challenge and La Salle’s future success.”

Kentucky clarifies ‘false reports’ they did not shake Kansas State hands after loss

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After Kansas State knocked off Kentucky in the Sweet 16, the purple Wildcats alleged that the blue Wildcats did not shake their hands after the game.

“They didn’t shake our hands,” Kansas State junior guard Amaad Wainright told ESPN last night. “It’s sorry.”

“They know what they did.”

Kentucky bristled at the allegations.

“They were turned and celebrating, so I walked off,” Kentucky head coach John Calipari said. “There was no disrespect for anything. It’s just that they were celebrating, and I was happy for them.”

“My team’s not like that. There’s no disrespect in any way. They beat us. They deserved to win the game.”

NCAA amends rule to allow Isaac Haas to play

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BOSTON — The NCAA has changed their interpretation of the rule that kept Isaac Haas out of the second round of the NCAA tournament.

Haas broke his elbow in Purdue’s first round win over Cal St.-Fullerton, but he was not allowed to play in a second round game against Butler because his brace did not meet NCAA standards.

So they changed those standards.

“With ample time this week to review the intent of the playing rule, the committee decided to provide a more contemporary interpretation, while keeping health and safety for all players the highest priority,” said Gavitt. “Technology has improved materials used in braces, so now there will be more flexibility in applying the rule as long as the brace is fully covered and padded. Isaac and other players in similar circumstances should be able to play, as long as the brace is safe for all.”

Sources have told NBC Sports that, despite Haas’ lobbying to get onto the court, he is not expected to play on Friday night. If he does, it will be in a very limited capacity.

“He didn’t practice the last two days,” Painter said on Thursday, “and when you don’t practice, you don’t play.”

“I don’t see him playing until he can practice and show me he can shoot a right-handed free throw and get a rebound with two hands.”

USC’s Chimezie Metu declares for NBA draft

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USC junior forward Chimezie Metu announced on Thursday evening that he will be declaring for the NBA draft:

This decision is not surprising. Metu finished his degree — Law History and Culture —  in three seasons. He held himself out of USC’s NIT games in an effort to keep himself from getting injured with NBA workouts on the horizon.

Metu averaged 15.7 points, 7.4 boards and 1.6 blocks for the Trojans this season. He is considered a borderline first round pick.

VIDEO: Kansas State legend celebrates revenge on Kentucky 67 years in the making

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In 1951, Kansas State lost to Kentucky in the National Championship game.

Ernie Barrett, who eventually became the school’s athletic director and is known as “Mr. K-State“, played on that team.

He’s wanted to get revenge on Big Blue ever since.

On Thursday night, Kansas State did.

Ernie was there, and here was his reaction in the locker room: