Jim Moran says only 20 colleges make a profit from sports
Some very relevant information in a short article. All those who want to pay college athletes need to open their checkbooks and chip in.
In view of the below, I don't see how anyone thinks colleges should pay any athlete beyond the scholarship benefits.
Median revenues generated by athletic departments increased by 3.2 percent from 2012 to 2013, while expenses went up 10.6 percent;
Of the 20 schools that made money, the median profit was $8.4 million;
Of the 103 schools that lost money, the median deficit was $14.9 million;
The highest total revenues generated by an athletic department was $169.7 million;
The highest total expenses by an athletic department was $146.8 million.
ESPN paid $7.3 billion for the college playoffs in 2012. They have more money than they let on. Divide that into 124 is $60 million a team. The numbers are obviously cooked. Why?
DK