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As a subscriber you can listen to articles at work, in the car, or while you work out. Subscribe NowNational Collegiate Athletic Association revenue increased for a 14th consecutive year as income from investments doubled and media rights agreements brought in more money for college sport’s governing body.
Revenue climbed 8 percent, to $989 million, in the 12 months through Aug. 31, from $912.8 million in fiscal 2013, according to a Deloitte & Touche LLP audit released Wednesday. Income from investments doubled to $82 million, while revenue from media rights rose $27 million, to $753.6 million, or 76 percent of the total.
The Indianapolis-based NCAA distributes most of its revenue to member conferences and institutions. Last year, it dispensed $908.6 million on scholarship funds, grants, student assistance, championship events and payouts for teams in the annual NCAA men’s basketball tournament. The governing body is undergoing governance changes aimed at providing more money to athletes.
The NCAA is appealing an Aug. 8 ruling by U.S. District Judge Claudia Wilken in Oakland, California, that said its structure is a cartel that violates antitrust laws by limiting what schools can offer athletes. The case was brought by former UCLA basketball player Ed O’Bannon.
In 2014, the NCAA reached a proposed settlement in a class-action lawsuit related to student-athlete concussions, in which it said it would provide $70 million for testing and research. The NCAA also proposed a $20 million settlement in another suit related to the use of student likenesses in video games.
The Deloitte audit, dated Dec. 12, said the NCAA plans to work with insurers to pay both those totals. It said the NCAA cannot, at this time, reasonably estimate the financial impact of the O’Bannon case.
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