Alabama Football Program Nets $47M-Plus Profit Texas A&M Athletic Department Makes $57.2M In '15-16 N.C. Still In Limbo As ACC Championship Host Site Washington State Athletic Deficit Shrinking LSU Athletics Turns $12M Profit In '15-16 Sources: BC Wasn't Going To Renew Bates' Contract Kentucky Increases Price For Football Season Tickets Florida AD Stricklin Puts Twitter To Good Use Schools Increasingly Rely On Private Plane Use Boston College AD Bates Resigns To Take CSA Job
NCAA'S BUDGET HAS ESTABLISHMENT OF FUND FOR LEGAL EXPENSES
Published August 20, 1998
The NCAA has been forced to "kink the hose" on its Div. I member schools, "slowing down the flow of revenue that feeds them," according to Steve Rock of the K.C. STAR, who noted that more money will now "be dumped into a multi million-dollar fund that someday might have to bail the NCAA out" of recent legal defeats. Still, despite the two recent legal setbacks, NCAA President Cedric Dempsey "doesn't view this as a fragile time for the NCAA." Rock reported that the NCAA's budget for the '98-99 academic year includes a total distribution to the Div. I schools and conferences of $141M, "almost the exact amount that was approved at this time a year ago." At the start of this decade, distribution to "all" NCAA members was less than $80M. All told, projected operating revenue for the '98-99 academic year "stops just short" of $283M, an increase of nearly $16M from a year ago. Total expenses, meanwhile, are projected to be $266M, up less than $5M. Rock reported that the NCAA is taking a "hard-line approach to its budget, pooling some resources ... and dumping them into a fund" that could be used to pay damages on its restricted-earnings coaches case. The fund reserve is now at about $10M, and is expected to reach $30M by the conclusion of the '98-99 school year (K.C. STAR, 8/19). EL JEFE: Dempsey is interviewed in a Q&A and said the NCAA "can be much more cost-efficient. I don't necessarily believe that means we stop all resort-type of hotels" for member meetings. Dempsey, on if the NCAA should sell its Learjet: "It depends on what [membership] expects of me. I could not travel 200 days a year commercially. ... If they don't want me to do that, I'll readjust" (K.C. STAR, 8/19).