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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).