… and pretty soon you’re talking about real money. A shit ton, as a matter of fact.
The NCAA’s cancelation of last season’s Division I basketball tournament because of the COVID-19 pandemic resulted in a $600 million annual decline in the association’s total revenue for its 2020 fiscal year, its new audited financial statement shows.
That’s a decrease of more than 50% compared to 2019.
The document, a copy of which was obtained by USA TODAY Sports, showed a $700 million decline in television and marketing rights revenue, nearly all of which came from the NCAA’s multimedia and marketing rights contract with CBS and Turner. In the association’s 2019 fiscal year, it reported nearly $868 million in such revenue
The NCAA received $270 million from event cancelation insurance, the statement said, but that covered only a small portion.
I’m guessing there won’t be a repeat of that in 2021.
Although I can’t help but wonder what Emmert would do if players collectively decided to sit out March Madness unless the NCAA dropped its opposition to their NIL rights. Besides shit his pants, I mean.