St. John's AD Monasch Resigns Oregon Tops List Of Public School Athletic Finances Walter Byers Passes Away At The Age Of 93 Nine Cities Bid On '18-'0 CFP Title Games Ole Miss Sets New Revenue Mark Texas Unveils New Ticket Upgrade Website New Houston AD Yurachek Settling In Georgia Approves Increased Athletic Budget Pac-12 Paces Ahead Of Other Conferences In Revenue "SNF" Leads Primetime For Fourth Time
Upcoming Conferences and Events
NCAA PAYS OUT $54.5M IN SALARY CASE, MOST FROM CBS DEAL
Published May 12, 1999
The NCAA "officially brought an end" to its restricted earnings settlement yesterday by transferring more than $54.5M to an account controlled by the attorneys for the restricted earnings coaches, according to Doug Tucker of the AP. The total payout included $19,754.40 in interest since the NCAA was three days late in making the payment. Coaches' attorney Dennis Cross: "They wanted to wait until all the points in the written agreement were settled and we didn't get that done until this morning." NCAA Dir of PR Wally Renfro said "everyone is very glad to have this finally resolved." The NCAA, which is relocating its headquarters from K.C. to Indianapolis next year, "had expected to get much of the money through a tax-free bond issue guaranteed" by the state of IN, but the state Legislature adjourned without addressing the bill. As a result, the NCAA came up with the majority of its payment from the almost $200M it receives from CBS for the rights to the NCAA basketball tournament (AP, 5/12).