The Friday File: While the NCAA college basketball tournament may or may not cost the economy money in lost worker productivity and sales, the sure losers are the 99% of Division I college players that don’t make the NBA. They work for a “benevolent” monopolist that strictly prohibits the players from monetizing their talent and that “pays” the players a subsistence wage. The winners: the NCAA, networks, universities and coaches.
Tag Archives: March Madness
March Madness
In ’11, March Madness earned the NCAA $548 million from TV rights and $40 million from ticket sales; 96% of all NCAA revenue. And, in 05-06 (the latest year for which data are available) the average salary for the 65 coaches in the Big Dance averaged $960,000. Yet, the schools do dismally. Again for the 05-06 season, the median Division I men’s basketball team generated $480,000 of revenue and $1.33 million of costs!