Fallout from the winter sports cancellations, particularly the basketball tournament. Note, this does not include losses incurred directly by the conferences when their hoops tourneys were canceled.
I hope this doesn't put any programs (in any sports) in jeopardy.
NCAA slashes distribution to Division I schools by $375M
https://www.espn.com/college-sports...aa-slashes-distribution-division-schools-375m
The NCAA board of governors voted unanimously on Thursday to distribute $225 million to Division I schools in June -- less than half of what it had previously budgeted -- following the cancellation of its basketball tournaments and other winter and spring championships ...
The NCAA had planned to distribute about $600 million, with the first distribution scheduled for April.
The NCAA generates most of its revenue from TV and marketing rights from the men's basketball tournament, along with ticket sales from national championship events.
The NCAA said $50 million will come from its reserves and that it also has a $270 million event cancellation insurance policy, which will be used to pay off a line of credit to cover the remaining distribution within 12 months.
...
According to the NCAA, Division II members will receive 4.37% of actual revenues, currently projected to be about $13.9 million, which is $30 million less than last year. Division III will receive 3.18% of actual revenues, about $10.7 million, which is about $22 million less than last year.
I hope this doesn't put any programs (in any sports) in jeopardy.
NCAA slashes distribution to Division I schools by $375M
https://www.espn.com/college-sports...aa-slashes-distribution-division-schools-375m
The NCAA board of governors voted unanimously on Thursday to distribute $225 million to Division I schools in June -- less than half of what it had previously budgeted -- following the cancellation of its basketball tournaments and other winter and spring championships ...
The NCAA had planned to distribute about $600 million, with the first distribution scheduled for April.
The NCAA generates most of its revenue from TV and marketing rights from the men's basketball tournament, along with ticket sales from national championship events.
The NCAA said $50 million will come from its reserves and that it also has a $270 million event cancellation insurance policy, which will be used to pay off a line of credit to cover the remaining distribution within 12 months.
...
According to the NCAA, Division II members will receive 4.37% of actual revenues, currently projected to be about $13.9 million, which is $30 million less than last year. Division III will receive 3.18% of actual revenues, about $10.7 million, which is about $22 million less than last year.
