An audited financial statement released by the NCAA on Friday showed that the organization "suffered a total revenue decrease" of more than $76M during its FY '15, according to Steve Berkowitz of USA Today. Distributions to D-I members increased $20M, and the NCAA "operated at a loss" of more than $9M on the year. This is the first time the NCAA "has had an annual deficit" in the 11 years USA Today has compiled the organization's financial statements. Before '15, the NCAA had "never had an annual surplus" of less than $10.9M. In '14, the NCAA had more than $82M in "investment income," but in '15 it reported nearly $21M in investment losses. NCAA PR & Media Relations Dir Stacey Osburn said that the organization "attributes most of those losses to the large stock-market decline that occurred in August." Those losses "overwhelmed" modest increases in TV and marketing rights fees. Additionally, management expenses rose to $45M from $42M the year prior. Despite the loss, the NCAA's "year-end net assets" stood at close to $698M -- about $70M more than FY '13 (USATODAY.com, 3/4). YAHOO SPORTS' Nick Bromberg writes while the NCAA's investments "didn't perform as well as expected," the organization also "increased payouts" by $20M to more than $920M. That combined with $76M in loss of revenue allowed the deficit to happen. If the NCAA has "a better year in the stock market" in '16, it could top $1B in revenue. Regardless, the sanctioning body "isn't in immediate financial danger" (SPORTS.YAHOO.com, 3/4).
