While everyone tries to figure out how to keep basketball players from accepting cash from agents, it’s worth noting that the NCAA topped $1 billion in revenue for the first time last year.
According to an audited financial statement published by USA Today, the NCAA pulled in $1.06 billion from September 2016 through August 2017, the majority coming from the 2017 NCAA Tournament, which produced $761 million in revenue. An additional $129.4 million came from ticket revenue and $60 million from marketing rights.
The NCAA reported expenses of $956 million, $560.3 million which went back to its Division I institutions. Thanks to a $105.1 million operating surplus, the organization was left with almost $399 million in total net assets. Most of the growth from the previous year came from increases in TV and marketing fees, revenue from championship events, and investment income.
All of that money and everyone’s up in arms about agents buying kids dinner.