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 Memphis Basketball Beating Attendance Projections Arizona State Earns Record Revenue For FY '16 Ohio State AD Smith Talks New CFP Role Auburn Makes $15M Profit In FY '16
TIME TO PAY UP: NCAA'S COST OF RESTRICTED EARNINGS CASE
Published April 15, 1999
The NCAA is going to ask all Div. I schools "to share the pain" in its $54.5M settlement in the restricted earnings case, according to Doug Tucker of the AP. Under a plan approved this week by the NCAA Div. I Management Council, payments into the settlement fund would range from a low of around $77,000 for small schools, to a high of around $240,000 for the largest schools. Though smaller schools said that they should have to pay little or nothing at all, the larger schools stressed that it was the smaller schools who voted for the rule. The sum will begin to be paid out in about 6-8 months to the roughly 2,000 coaches in various sports whose annual salaries were "unlawfully capped" by the NCAA at $16,000 (AP, 4/15). USA TODAY's Steve Wieberg writes that the plan, which still must await final approval next week from the NCAA's Board of Directors, will obtain funds for the settlement from the following sources: $18.125M from the NCAA's revenue-sharing pool, taking more from upper-end Div. I schools that annually receive more; $18.125M in equal payments from all Div. I schools; and $18.25M in reserves that have been set aside by the NCAA over the last two years. Schools now must come up with $40,000 to $57,000 each in the next three weeks -- possibly through a special loan program (USA TODAY, 4/15). WHO PAYS WHAT? The following lists the conferences with the highest and lowest average payments per school. Highest five: ACC ($239,989), Big Ten ($227,680), SEC ($197,864), Pac 10 ($195,855) and Big 12 ($195,122). Lowest five: Trans America ($76,674), Northeast ($77,128), Big South ($77,724), Mid-Eastern ($78,241) and Mid-Continent ($79,165) (NCAA).