The cancellation of March Madness because of the coronavirus pandemic has dealt a costly blow to college sports programs, the National Collegiate Athletic Association indicated on Thursday.
The NCAA said that financial distributions to Division I member institutions at the end of the 2019-20 academic year would be $225 million—just 37.5% of the expected $600 million amount. The reason for the big drop is the cancellation of winter and spring championships, especially the NCAA men’s basketball tournament, the organization’s marquee event and biggest moneymaker.
The much-lower payment stands to put a big pinch on college sports programs—especially at schools that don’t have huge money-spinning football programs. It could hurt women’s sports programs that typically generate much less revenue. And the retrenchment comes as the NCAA is under pressure to provide more compensation to athletes.
Todays WSJ
The NCAA said that financial distributions to Division I member institutions at the end of the 2019-20 academic year would be $225 million—just 37.5% of the expected $600 million amount. The reason for the big drop is the cancellation of winter and spring championships, especially the NCAA men’s basketball tournament, the organization’s marquee event and biggest moneymaker.
The much-lower payment stands to put a big pinch on college sports programs—especially at schools that don’t have huge money-spinning football programs. It could hurt women’s sports programs that typically generate much less revenue. And the retrenchment comes as the NCAA is under pressure to provide more compensation to athletes.
Todays WSJ
