CBS, Turner Plug March Madness In N.Y. Subway NCAA Tourney Sites See Fast Ticket Sales Adidas Unveils Postseason Jerseys For 10 Schools Terms Of Penn State's Nike Deal Remain Secret SEC Reviewing Alcohol Sales Policy Springsteen To Headline Final Four Concert Air Force Sports Hit With 10% Budget Cut Rutgers Targets Athletics Solvency By '22 Delany Against More Friday Football Games O'Bannon Documents Detail NCAA's Stance
Upcoming Conferences and Events
NCAA RESTRICTED EARNINGS A HOT TOPIC AT S.A. CONVENTION
Published January 12, 1999
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).