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Dude from Oklahoma had the Kurt Angle technique on the suplex
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Awesome news. Thanks gunna.Newbs, Ive been told twice that DGreen will verbal to Tennessee after Bama game.
If I am late, I apologize, but this had me cracking up at work. Watch the whole thing, b/c there is a surprise in the last 5 seconds
Oklahoma beats ND, tho
3 BE teams in the BCS Top 25 . More than the ACC and BIG.
NCAA assets pass $500M, including $260M fund
Steve Berkowitz, USA TODAY SportsShare
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2012-10-15-final-four
(Photo: Jack Gruber, USA TODAY Sports)
Story Highlights
Quasi-endowment has doubled in past six years; protects against loss of basketball tournament money
Audited figures pending, but fiscal-year revenues were at least $860 million
Expenses likely more than $800 million, including record $503 million to Division I membership
8:14PM EDT October 15. 2012 - While many of the nation's major-college athletics programs are struggling to support themselves financially, the NCAA not only is providing more assistance to schools than ever but also accumulating money as never before.
Although audited figures for its recently concluded 2012 fiscal year are pending, a USA TODAY Sports analysis has found, the NCAA now likely has more than $500 million in net assets. Among its unrestricted assets is an endowment fund of more than $260 million, more than double where it stood six years ago.
The analysis is based on an examination of the NCAA's previous audited financial statements and membership reports, its federal income tax returns and a series of interviews and e-mails with association executives.
The endowment fund has been designated as a quasi-endowment, which means the money is intended to be retained and invested, but unlike a permanent endowment, its principal can be spent. It was established in 2004 by the NCAA Executive Committee, a group of college presidents that oversees association-wide matters, primarily to protect against an event that could impact what is overwhelmingly the NCAA's greatest revenue source: the Division I men's basketball tournament.
The NCAA had at least $860 million in revenue during its 2012 fiscal year, which ended Aug. 31, the USA TODAY Sports analysis found. More than three-fourths of that revenue came from the basketball tournament's multimedia rights agreement.
While the association's expenses are less clear, the analysis found they likely exceeded $800 million, with $503 million being distributed to Division I schools and conferences, an all-time high, spokesman Erik Christianson said in an e-mail.
"We are not speculating on our year-end numbers," Christianson said via e-mail. "But we expect to post a surplus at the end of the year and make a supplemental distribution to our members after receiving final audited financial results."
That distribution will occur early in 2013.
Said Kathleen McNeely, the NCAA's vice president of administration and chief financial officer: "In the future, we are going to be challenged to see the increases (in revenue) we've seen the last three, four years. This is why we continually seek to be good stewards of our resources for the benefit of our members and ultimately our student-athletes."
The NCAA's financial performance comes against the backdrop of an ongoing and now-litigious battle over the benefits college athletes, especially those in the revenue-generating sports of football and men's basketball, should receive for playing.
In addition, while the NCAA is sending more money to its membership, it also is paying its executives — beginning with President Mark Emmert — substantially more than it has in recent years, and it says it expects the compensation figure to continue rising.
The overwhelming majority of the NCAA's money comes from its Division I men's basketball tournament rights deal with CBS and Turner Broadcasting System that provided $666 million in 2012, according the association's audited financial statement for the year ending Aug. 31, 2011. Another $18.8 million came from the NCAA's contract with ESPN for the rights to the Division I women's basketball tournament and other NCAA championships.
Those two contracts accounted for around 80% of the association's revenue, Christianson said; the NCAA gets additional money from ESPN for basketball's National Invitation Tournament and international rights.
The NCAA annually budgets for the amount of money it expects to distribute to Division I members. If actual operational revenues and expenses come out better than expected, the NCAA makes a supplemental distribution during the following year.
In fiscal 2012, the NCAA planned to distribute $467 million. But because of its financial performance in 2011, said Keith Martin, the NCAA's managing director of finance and operations, it was able to send another $36 million to the members: an average of nearly $100,000 per Division I school and conference. That made 2012 the fifth consecutive year in which the NCAA made such an additional distribution — and the amounts have risen dramatically. In 2008, an additional $1 million went back to the members; in 2010, it was $15 million.
Part of the reason for the increase is that NCAA, in fiscal 2010, began putting more of its annual operating surpluses toward supplemental distributions to the membership and less toward the quasi-endowment, which also has retained any investment earnings. The fund was set up for several potential purposes:
-- To supplement insurance in case of a catastrophic, temporary loss of the men's basketball tournament rights fees.
-- A hedge against a decline in the value of future rights contracts (all of which have increased since 2004).
-- To eventually grow into a fund large enough to throw off money to support NCAA programs.
The fund began with $45 million, and the original goal for its growth was $500 million, which has been lowered to $380 million, Martin said.
Iowa State athletics director Jamie Pollard, president of the 1A Athletic Directors' Association, said the fund and its effect on distributions to members is not something ADs follow closely. "I don't think there is any AD that minds revenue," he said, "but none of us is holding our breath waiting for (NCAA governing groups) to make a decision" about supplemental revenue distributions.
Speaking generally about the quasi-endowment, Pollard said: "I'm a believer in having a really healthy reserve for a lot of strategic reasons. What (amount) it should be is a matter for the" governing groups and the NCAA executives to decide.
The money could be an important cushion in the face of a federal anti-trust lawsuit that was filed in May 2009 and now is set for trial in 2014. Lawyers for former and current football and men's basketball players are seeking damages from the NCAA; video-game maker Electronic Arts and the nation's leading collegiate trademark licensing and marketing firm, Collegiate Licensing Co., for what they say is illegal use of the athletes' images, names and likenesses.
The notes to the NCAA's 2011 financial statement, issued in December 2011, acknowledged pending lawsuits and claims, but stated in part: "The NCAA does not believe the ultimate resolution of these matters will result in material losses or have a material adverse effect on the consolidated financial position ... of the NCAA."
NCAA executive vice president and general counsel Donald Remy said in a statement Sept. 26: "The NCAA remains confident it will prevail when this case is appropriately tried: in court, with all the evidence."
Remy is among a group of relatively new NCAA executives, whose collective pay will begin showing increases over that of their predecessors the next time the association files its federal tax returns — and will continue rising. Like other private non-profit groups, the NCAA is not required to make public its employment contracts. Its tax returns must annually report the most recent calendar-year compensation of its officers and its five most highly paid employees who are not officers.
Excluding severance payments, the NCAA's payroll for these individuals was just under $6 million in the 2008 calendar year, about $6.4 million in 2009 and about $6.3 million in 2010 (the most recent year available). However, the 2010 figure includes a little less than $400,000 as the compensation to Emmert, who began working for the NCAA in early October 2010. That means he was being paid at a rate of nearly $1.6 million per year, nearly 40% more than predecessor Myles Brand made in 2008, Brand's final full calendar year on the job.
Because of turnover and reorganization that has occurred under Emmert, it is difficult to pinpoint the number of individuals who were designated as officers during the 2011 calendar year — and thus will have their pay disclosed when the NCAA files its next tax return in the summer of 2013.
But when asked about the direction of the NCAA's executive payroll, Christianson said via e-mail: "Executive salaries should begin to trend upward as a result of the completion of the transition to a new administration. President Emmert's compensation for a full year will be reported next year. We would anticipate a trend upward in future years.
"The NCAA Executive Committee reviews executive compensation annually with an independent third party and aligns compensation with the comparative marketplace."
The USC - Notre Dame game is looking better and better each week. It might even be better than the USC - Oregon game.
Notre Dame will beat USC, they're one physical *** team.
Ducks will quack all over USC as well.
hush.Notre Dame will beat USC, they're one physical *** team.The USC - Notre Dame game is looking better and better each week. It might even be better than the USC - Oregon game.
Ducks will quack all over USC as well.
So next week Florida #1 and Bama #2 in the BCS then?I seriously see Tennessee beating Bama' this weekend.
Talk about a job saving win for Dooley if that happens
I seriously see Tennessee beating Bama' this weekend.
Talk about a job saving win for Dooley if that happens
So next week Florida #1 and Bama #2 in the BCS then?
It was a joke...sort of anyways.Alabama would drop to like #10 if they lost to Tennessee.
I seriously see Tennessee beating Bama' this weekend.
Talk about a job saving win for Dooley if that happens
Do you need attention so bad that you just say stupid **** like this?I seriously see Tennessee beating Bama' this weekend.
Talk about a job saving win for Dooley if that happens
Not quite sure what to make of the SC offense right now. O line is still a concern.
So tell me who has had the hardest schedule?
Nobody ever wants to give us credit, pathetic.
Notre Dame will beat USC, they're one physical *** team.
Ducks will quack all over USC as well.
Florida played Texas A&M too though.
Look at Tommy Tubberville though