Amateurism’s been berry, berry good to M.E.

“I, for one ,as a Big Ten AD, am tired of being used as a minor league for professional sports,” Burke said. “What was right for the NCAA in the first 70 years of its history, maybe we ought to go back and say, ‘What’s changed?’”

Let me give you a little hint, dumbass.

The NCAA had total revenue of nearly $1 billion during its 2014 fiscal year, according to an audited financial statement the association released Wednesday.

The total resulted in a nearly $80.5 million surplus for the year – almost $20 million more than the surplus the NCAA had in 2013 and the fourth consecutive year in which the annual surplus has exceeded $60 million.

USA TODAY Sports has compiled the NCAA’s financial statements for each of the past 10 years, and the latest surplus is the largest the association has recorded during that time. Its greatest previous annual surplus was the $70.9 million it recorded in 2012.

The latest surplus increased the NCAA’s year-end net assets to nearly $708 million — more than double where they stood at the end of its 2008 fiscal year.

Mind you, that comes after a whopping $547.1 million distribution to Division I schools and conferences.

For that kind of money, Morgan, I’d let ’em use me all they want.  It sure beats the way student-athletes get used.

9 Comments

Filed under It's Just Bidness, The NCAA

9 responses to “Amateurism’s been berry, berry good to M.E.

  1. Tom Slicker

    Why does the NCAA, which does not own any facility for hosting a sport, does not provide the scholarships to the atheletes need over $700 million in assets?

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  2. 3rdandGrantham

    Translation: woe is me. I make a substantial, high 6 figure salary due at least party to free market labor established under the guise of “student athlete.” Yet I still feel abused and totally taken advantage of by these greedy pro organizations. Now if you’ll excuse me, I need to check my bank account to see if my monthly 50k direct deposit went through yet.

    People who get it, get it. People who don’t get it, don’t get that they don’t get it. AD’s clearly are in the latter camp.

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  3. Ant

    What has really changed is that many more of the student athletes (maybe encouraged by family and or friends) value the quick money of one and done more than an education. No amount of money that the schools, NCAA, or the conferences have has had any bearing on what Burke said.

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    • What has really changed is that many more of the student athletes (maybe encouraged by family and or friends) value the quick money of one and done everyone today values the money more more than an education.

      Fixed that for you. I guess what’s going on up at North Carolina was a bunch of greedy asshole kids in your mind. I bet that had nothing to do with the fact that the school knew it could corrupt its academic mission because better athletics meant more money. Nope – just all them “look at me” asshole kids are the ones that have created this culture of chasing money.

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      • Ant

        The fact that more people are greedy today is irrelevant to the specific comment of Mr Burke above. It is solely the lack of value some of the student athletes and their families place on the student athletes education.
        Now if you want to discuss why they value it less that is another topic.

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        • Beat me to it. Fair enough and we’re somewhat on the same page here. I’d argue that it isn’t just the athletes and their families that place little value on the education so my level of sympathy for schools in this whole culture is pretty low, but I think you agree with that.

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    • Wow – my response was a little harsher in tone than I intended. What I’m trying to say is that it’s intellectually dishonest to pretend that the money grubbin’ culture in college athletics wasn’t created by the colleges themselves. I don’t understand this cognitive dissonance that we have towards college athletics where we act like it’s some sort of criminal offense that athletes see how much they’re generating and wonder why they can’t earn any of it.

      When the day comes that colleges stop charging for tickets, stop admitting partial qualifiers, and stop accepting TV money, and get rid of the bullshit majors that exist purely to keep athletes eligible that provide no meaningful job skills / higher educational value – then we’ll truly be free of this culture. I’d also like a pony, but I’m pretty confident that ain’t happening anytime soon either.

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  4. Scorpio Jones, III

    Secondary translation: I want my high six-figure salary to be worth what it would have been worth in 1964…Next year in Provence.

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