The NCAA released a financial statement on Wednesday, and the organization pulled in over $989 million in revenue during its financial year 2014. The entire statement is available at the link if you enjoy reviewing financial statements, but as you might imagine, the majority of that revenue came from the men’s basketball tournament TV contract.
The NCAA made $989 million in revenue last year
March Madness is very good business.
Kevin Jairaj-USA TODAY Sports
The organization also reported expenses of over $909 million, with $547 million being distributed to Division I schools. It also spent a whopping $158 million in legal expenses, an increase of over $36 million from the previous year. That does not include any settlements it will be paying as a result of a concussion lawsuit, and as well as the Sam Keller and Ed O’Bannon suits.
After all the NCAA’s other expenses were totaled up, it was left with a surplus of over $80 million, which is up nearly $20 million from just a year ago. Just incredible sums of money for a humble not-for-profit athletics organization.
Now wouldn’t it be horrible if athletes could get their share of this money?
H/T: USA Today
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