NCAA Brings In Nearly $61M Surplus For FY '13, With Almost $913M In Total Revenue
The NCAA recorded a nearly $61M surplus for FY '13, a smaller total than the organization "had in each of its two previous years," but the "third consecutive year in which the annual surplus has exceeded" $60M, according to a financial statement cited by Steve Berkowitz of USA TODAY. This pushed the NCAA's "year-end net assets" to more than $627M, "just less than double where they stood" at the end of FY '07. The documents show that the NCAA had nearly $913M in total revenue in FY '13, and also "had a little more than" $852M in total expenses, including a record $527.4M distributed to Division I schools and conferences. For the NCAA's '13 revenue, $681M "came from the multimedia and marketing rights agreement with CBS and Turner Broadcasting that primarily is connected" to the NCAA men's basketball tournament. The new financial statement -- dated Dec. 4, 2013 -- "continued to include a statement of the NCAA's confidence in its ability to prevail in, or settle, various lawsuits without a major impact on its assets" (USA TODAY, 3/21).
STRIVING FOR WHAT'S RIGHT
: Former UCLA F Ed O'Bannon and attorney Michael Hausfeld Friday appeared together on the online "Larry King Now" broadcast to discuss their efforts to sue the NCAA for using O'Bannon's image while in school. O'Bannon said the efforts by players at Northwestern Univ. to begin unionizing was great because they were "speaking out and speaking up for themselves. ... It's about time." Hausfeld said, "In order to exercise a voice you have to first realize you have a voice and that is a step … to bring the athletes together." He added, "There is an effort that is gaining momentum to form an association of athletes at the college level across divisions and across sports so that they can have a level playing field and balance the enterprise itself with an equal voice on behalf of the athletes." O'Bannon said, "My biggest thing is to right a wrong. If someone uses your likeness, then you should be compensated for it." Host Larry King said if O'Bannon and Hausfeld win their lawsuit, "this will be historic." King: "This could revolutionize sport as we know it in America." Hausfeld said it "would revolutionize college sports because it does include current players as well as former players" ("Larry King Now," ORA.tv, 3/21