SBD/12/Collegiate Sports

NCAA RESTRICTED EARNINGS A HOT TOPIC AT S.A. CONVENTION

          The NCAA is still attempting to "settle pending
     litigation concerning restricted-earnings coaches," a suit
     the organization lost which awarded $67M in damages to
     former coaches who fell into the "now defunct" category,
     according to Tim Griffin of the SAN ANTONIO EXPRESS-NEWS. 
     At the NCAA Convention in San Antonio, Penn State Univ.
     President Graham Spanier said, "The NCAA is healthy and
     continues to be solvent and will get through this.  But
     there is no question that legal fees and the potential for
     settlement cost of this lawsuit pose a significant challenge
     to all of us."  Griffin writes that the "looming payment"
     could reach up to $80M.  The plaintiffs told the NCAA that
     "they prefer the settlement in one payment, rather than
     disbursed over several years," meaning the organization
     "probably would have to borrow if a lump-sum payment is
     figured."  NCAA Gen. Counsel Elisa Cole said that the
     organization continues to negotiate an out-of-court
     settlement (EXPRESS-NEWS, 1/12).  Among ways to pay include
     a "flat fee, divided equally among" the Div. I members, and
     a "weighted assessment that would have some member schools
     paying more than others" (DALLAS MORNING NEWS, 1/12).  

Return to top

Related Topics:

Colleges, NCAA

Video Powered By - Castfire CMS Powered By - Sitecore

Report a Bug