The NCAA is swimming in the money despite recent controversies ranging from colleges catching heat for corruption and scandals involving its star players. A new report claims the organization has hit $1 billion in annual revenue.
According to reports, the college organization easily made over a billi last year based on a newly released financial statement.
The NCAA had close to $1.1 billion in annual revenue during its 2017 fiscal year, according to an audited financial statement the association released Wednesday. It is the first time the association has surpassed $1 billion in annual revenue, although it had come close in two of its past three fiscal years. (USA Today)
Remember, college sports doesn’t make any money. Oh, and this is just the NCAA Tournament. The “members” make billions more from media deals, apparel deals, licensing deals, etc. And, the money keeps going UP. https://t.co/6XaOpugvPo
— Jay Bilas (@JayBilas) March 7, 2018
NCAA has since gone to social media to deflect from the negative press and tell followers money goes toward student athletes.
In late February, NBA icon LeBron James publicly called the NCAA a scandalous business.
“The NCAA is corrupt,” James said when asked about the college basketball scandal at Tuesday’s shootaround in Cleveland. “We know that. I’m sorry. It’s going to make headlines, but it’s corrupt.” Yahoo Sports reporters Pat Forde and Pete Thamel revealed documents on Friday that implicated dozens of current and former college players from the most high-profile Division I college basketball programs in a scandal involving payments from former NBA agent Andy Miller and his company. (Yahoo! Sports)
Former NBA and college basketball star Jalen Rose recently made headlines after suggesting NCAA players should boycott the upcoming March Madness tournament.
Jalen Rose to NCAA basketball players: "Don't play in the NCAA Tournament. Send a message young fellas … go for the money."
— Adam Reisinger (@AdamReisinger) February 24, 2018
Last month, Detroit Pistons coach Stan Van Gundy called out the NCAA over multiple publicized corrupt money-grubbing scandals.
Over the course of seven minutes early Sunday, Van Gundy blistered who he thinks are the real culprits of the scandal — the NCAA and college presidents. “The NCAA is one of the worst organizations — maybe the worst organization — in sports,” Van Gundy said. “They certainly don’t care about the athlete. They’re going to act like they’re appalled by all these things going on in college basketball. Please, it’s ridiculous and it’s all coming down on the coaches.” (Detroit Free Press)