1. Ellen DeGeneres Ending Her TV Show
  2. Mexico City Basketball Team will Join the NBA G League in 2021-2022
  3. Virgin Hyperloop Gives Us a Look Into The Future
  4. WATCH: Stranger Things Season 4 Teaser “Eleven, Are You Listening?”
  5. CDC Predicting a Sharp Decline In U.S. Covid Cases
  6. Lady Gaga Dognappers Arrested for Robbery and Attempted Murder
  7. Biden Set To Launch Largest Food Program In American History
  8. Top 3 Moments of the Strangely Uneventful 2021 Oscars
  9. New York Comic-Con 2021 Set For Limited-Capacity
  10. Mars Helicopter Ingenuity Makes Historically Successful First Flight
  11. Protests Surge In Brooklyn Following The Daunte Wright Shooting
  12. United States Puts Freeze On Johnson & Johnson Vaccine
  13. Iconic Rapper DMX Dead At 50
  14. Republican Arkansas Governor Vetoes Anti-Transgender Healthcare Bill
  15. Matt Gaetz Under Fire For Sexual Misconduct
  16. Nike Suing Lil Nas X Over Popular ‘Satan Shoes’
  17. 16 Women Have Now Accused Deshaun Watson of Sexual Assault
  18. Gun Industry Preps For Surge In Sales After Boulder and Atlanta Shootings
  19. Rallies Appear Across The Country After Atlanta Spa Killings
  20. Disneyland Set To Reopen In April With Higher Capacity Than Expected
  21. The City of Minneapolis Set To Pay $27 Million To George Floyd’s Family
  22. Netflix Starting To Crackdown On Password Sharing
  23. Queen Elizabeth Responds To Prince Harry and Meghan Markle’s Oprah Interview
  24. Texas and Mississippi Lifting Mask and Covid Restrictions
  25. Why Thousands of Farmers Are Protesting In India
  26. Tiger Woods Transferred To New Hospital After Terrible Car Crash
  27. After Nearly 3 Decades, Fry’s Electronics Has Gone Out Of Business
  28. After 28 Years, Daft Punk Breaks Up
  29. NCAA Allowing 25% Capacity at March Madness Basketball Tournament 2021
  30. Death Toll Rises as Texas Has A Huge Power Outage
  31. The UAE Hope Spacecraft Takes First Photo of Mars
  32. Large Stadiums Set to Open in New York
  33. Trump’s Lawyer Admits To The Former President’s Lies
  34. Country Singer Morgan Wallen Dropped by Radio & Label After Using Racial Slur
  35. Fantastic Beasts 3 Shuts Down Filming After Positive COVID Test
  36. Popeyes Embraces GameStop Stock Madness + Subway Breaks Out New Deal
  37. Robinhood Receives 2 Lawsuits After Restricting Gamestop Trades
  38. Tesla Features it’s Model Y For First Annual Profit
  39. 2020 NCAA Revenue Drops 50% After Basketball Tournament Cancellation
  40. Biden Gearing Up to Sign 10 Covid-19 Related Executive Orders
  41. Kroger’s New Smart Cart Eliminates Checkout Payments
  42. Exploring the Darkest Parts of the FBI’s History in “MLK/FBI”
  43. New York City Cutting Business Ties with Trump After Extreme Backlash
  44. Trump Lashes Out at Big Tech After Deadly Capitol Riot
  45. Legendary Dodgers Manager, Tommy Lasorda, Dead at 93
  46. Congress Calls for Trump’s Removal from Office
  47. Children of Bodom Guitarist Alexi Laiho Dead at 41
  48. “Soul” – The Most Inventive Movie of 2020
  49. As Unemployment Continues, Burger King Launches Dollar Menu
  50. ‘The Last Blockbuster’ – Feeling Nostalgic Yet?
  51. FDA Endorses Emergency Authorization of Moderna’s Coronavirus Vaccine
  52. Facebook Gaming Launches Black Creator Program
  53. Tom Brady’s Jersey Theft Arrested In Massachusetts
  54. Biden Will Ask Americans to Wear Masks for His First 100 Days
  55. Spotify Takes the Blame for Joe Rogan and Alex Jones Podcast Disappearance
  56. “Wonder Woman 1984” Set To Hit HBO Max and Movie Theaters
  57. Facebook Made Alterations to News Feed
  58. Make Way for Holiday Specials On Your Favorite Streaming Platforms
  59. Customers Stockpiling as COVID Cases Increase
  60. The Weeknd Set To Head Super Bowl 2020 Halftime show
  61. ‘Borat 2’ Star Maria Bakalova Moving Up In Hollywood
  62. Apple Makes Big Leaps at “One More Thing” Event
  63. Al Roker Diagnosed With Prostate Cancer
  64. New Set of Restaurant Restrictions Among Rising COVID-19 Cases
  65. Central Park Comes Alive With Music-Based App: Soundwalk
  66. Assassin’s Creed to Hit Netflix?
  67. Sony Confirms Netflix, Disney Plus, and Twitch for PS5 Launch
  68. Sacha Baron Cohen Disrupts Pence Rally Dressed As Trump
  69. Coca-Cola to Discontinue Tab Drink After 6 Decades Of Iconic Status
  70. Spotify Silent On Anti-Semitism
  71. Green Lantern Coming to HBO Max
  72. Trump’s Latest Immigration Restriction Fires Shots At Work Programs
  73. Avatar 2 & 3 Expected To Hit Theaters Soon!
  74. Target Set To Hire 130,000 Employees for Holiday Season
  75. Artists Deal With Increased Security Fees While Touring
  76. Tatiana Maslany Set to Play She-Hulk in New Marvel Film
  77. Come Check Out Facebook’s First Ray-Bans ‘Smart Glasses’
  78. Cardi B Files For Divorce From Offset
  79. Major Backlash for Disney Over Filming Mulan
  80. Beyond Meat To Expand Into China
  81. A Sad Day In Metal – Death of Power Trip’s Riley Gale At Age 34
  82. A Look Into Adam Sandler’s New Family-Friendly Horror Movie
  83. The QAnon Facebook Purge
  84. Ed Sheeran’s First Demo Album Up for Auction
  85. Oregon Food Bank Helping To Fight Hunger Statewide
  86. Neil Young Sues Trump’s Campaign for Using His Songs
  87. Marvel Ramping Up Production For Shang-Chi
  88. Pixel 4A Set For Early August Release?
  89. Backlash After Chainsmokers ‘Drive-In’ Charity Concert
  90. Airlines Losing Billions Due To Stalled Demand
  91. AMC Theaters Pushes Back Opening Once Again
  92. Snapchat Debuts Mini Apps With Headspace Meditations
  93. “Glee” Star Naya Rivera Saves Son Before Death
  94. Dinner Party Supergroup Debut Their New Album
  95. Is The United States Banning TikTok?
  96. Reddit Cracks Down On Hate With Subreddit Bans
  97. Face Mask Requirements Move To New States
  98. Disneyland’s Splash Mountain Set To Change
  99. New Fireworks Conspiracies Across the U.S.
  100. Canceling Theodore Roosevelt
  101. Starbucks Bans Black Lives Matter Clothing For Employees
  102. Top Industries Hit The Hardest By Coronavirus
  103. Top 10 Wholesaling Real Estate Companies In North Carolina
  104. Top 10 Side Hustle Ideas To Make More Money
  105. Kobe Bryant Dies In Helicopter Crash
  106. Second Deadly Coronavirus US Case Confirmed
  107. Mac Miller’s Family Releases “Circles” Album
  108. Eminem Drops Surprise New Album
  109. See the Full Coachella 2020 Lineup
  110. Jared Leto Stars In The New Trailer for “MORBIUS”
  111. Marvel Set to Unveil First Transgender Character–or is it?
  112. Are Real Estate Cash Homebuyer’s A Scam?
  113. Trump Killed a Guy and Now Twitter is Freaking Out about World War III
  114. The Top Ten Best Movies from 2019
  115. The Top 6 Albums of 2019
  116. Donald Trump is not really impeached!!!! (Real Footage)
  117. The Best “I’m Gonna Tell My Kids” Memes on Twitter
  118. “Joker 2” Announced with Director Todd Phillips To Helm Sequel
  119. Internet Sensation Grumpy Cat Dies At Age 7
  120. Maleficent Is Back in Disney’s Maleficent: Mistress of Evil
  121. IT: Chapter 2 Official Teaser Trailer
  122. Jaden Smith to Play Kanye in New TV Series?!
  123. J.I.D. Drops New Horror Themed Music Video For “151 Rum”
  124. Sonic The Hedgehog Official Trailer
  125. Director John Singleton Dies At 51
  126. Avengers: Endgame Expected To Make $300 Million The First Week
  127. Lil Dicky Hopes To Save “The Earth” In New Hilarious Music Video
  128. Will Smith Stars In A New Movie With Himself As “Gemini Man”
  129. Fast and The Furious Spinoff Features The Rock & Jason Statham
  130. French Montana Says Kanye West’s New Album Will “Change The World”
  131. Chucky Revived In New Child’s Play 2019 Trailer Of Remake
  132. Offset & Cardi B Drop Steamy New Video for “Clout”
  133. The Lion King Official Trailer Released
  134. Lollapalooza Announces It’s 2019 Lineup
  135. Joker Movie Teaser Trailer 2019
  136. Hip-Hop West Coast Artist Nipsey Hussle Shot & Killed
  137. Dora The Explorer Official Movie?!
  138. G-Eazy and Blueface Drop New Song for The “West Coast”
  139. Marvel Releases New Avengers: Endgame Trailer
  140. Fresh Prince of Bel-Air Remake?
  141. Game of Thrones Season 8 Official Trailer
  142. Cardi B & Bruno Mars Official New Music Video
  143. Oscar Winers for 2019 Academy Awards
  144. New Aladdin 2019 Trailers
  145. ALL 2019 Movie Releases Coming Out This Year
  146. “Modern Family” Show Canceled
  147. Rolling Loud 2019 Lineup Announced
  148. What Is A Vegan and What Is Vegan Food?
  149. Netflix Raising Prices…Again in 2019
  150. Funniest 10 Year Challenge Pics
  151. Spider-Man is Back in Spider-Man: Far From Home Official Trailer
  152. Funny Donald Trump Memes
  153. Woodstock 2019 Officially Announced
  154. How to Make Money on OfferUp
  155. R. Kelly Streams Go Up After Docuseries Airs on Lifetime
  156. Coachella 2019 Lineup
  157. Can the NFL Super Bowl End in a Tie?
  158. How To Make Money on eBay Selling
  159. How Amazon Music Works: Pros vs. Cons
  160. How to Make Money On Etsy
  161. How To Start Your Own Business
  162. Stranger Things: Season 3 Teaser Trailer (2019)
  163. Instagram’s New Update Outrages Users
  164. Jordan Peele’s New Movie Trailer ‘Us’ Looks Terrifying!
  165. Miss Spain First Transgender to Compete for Miss Universe
  166. MEN IN BLACK: INTERNATIONAL Official Trailer (2019)
  167. Hellboy (2019) Official Movie Trailer
  168. NFL Draft Moving to Las Vegas for 2020
  169. Offset Apologizes to Cardi B on Stage; Celebrities React
  170. How To Lose Weight For The New Year
  171. Godzilla Returns in Godzilla: King of the Monsters To Fight King Ghidorah
  172. Goodbye Facebook and Instagram? YouTube Now Has A Stories Feature
  173. MLB Oakland A’s Getting New Stadium Upgrade!
  174. Tumblr is Banning Adult Content from Their Platform
  175. Tips on How to Make Money Online
  176. Pork With Sautéed Granny Smith Apples
  177. BUTTERY ROASTED TURKEY FOR THANKSGIVING
  178. Ariana Grande – breathin (Official Music Video)
  179. Jennifer Lopez & Bad Bunny Drop New Music Video!
  180. NEW Toy Story 4 Trailers!! Meet The New Toys
  181. NEW POKEMON Movie Trailer!!
  182. 5 Tips That Will Make You a Successful Real Estate Agent
  183. The Top 25 Horror Movies of All Time
  184. Spotify is Now Letting Indie Artists Directly Upload Their Music
  185. Apple Announces NEW iPhone XS & XS Max and More…
  186. Louisiana Mayor Bans Nike Apparel from City Facilities
  187. Rapper Mac Miller Passes Away at Age 26
  188. Colin Kaepernick Facing Scrutiny for New Nike Ad?!
  189. MACHINE GUN KELLY FIRES BACK AT EMINEM (Listen to Diss)
  190. Listen to Eminem Kamikaze
  191. 6 MOST AMAZING MEANS OF TRANSPORT
  192. Burning Man Festival Taking Place This Weekend!
  193. Apple to build $5 billion campus for New Steve Jobs theater
  194. Instagram Changing its Features to Get Rid of Fake Accounts
  195. Apple to Introduce 3 New iPhones This Year?!
  196. “Get The Strap” Music Video – 6ix9ine, Casanova
  197. NFL Launches 2018 First Season Game on Sept. 6
  198. David Bowie’s Mentor Passes Away at 80
  199. Queen of Soul Breaks Record for Top Streams Since Passing
2020 NCAA Revenue Drops 50% After Basketball Tournament Cancellation

After the cancellation of the NCAA’s Division I men’s basketball tournament this past year due to the widespread COVID-19 pandemic, the unfortunate result was a $600 million loss in the total revenue for the association. The information for the 2020 fiscal year is readily available via a newly audited financial statement.

Compared to 2019, that is a 50% decrease.

The financial statement, which was obtained by several popular news networks, showed a decline of $700 million in revenue from television and marketing rights. Most of this money typically comes from contracts with Turner and CBS. In the NCAA’s 2019 fiscal year, the association reported revenue of around $868 million.

For the 2020 tournament, the NCAA was prepared to receive a hefty $827 million from Turner and CBS. Instead, the association only received $113.1 million, according to the recent financial statement.

“The NCAA lost more than $800 million in revenue” due to the cancellation of the men’s basketball tournament. The notes stated that this loss was due to the lack of ticket sales and TV/marketing rights agreements.

The statement did note, however, that the NCAA received $270 million in event cancellation insurance.

Due to this unprecedented drop in funds, the association had to adjust how it would distribute funds to is Division I conferences and schools. Rather than giving $611 million as they did in 2019, it could only shell out $246 million for 2020.

The latest financial statement provides the public with information regarding the impact of the tournament’s cancellation, though there are many other details that are left to the imagination.

The note on the statement says that the NCAA obtained a $125 million credit line through PNC bank on May 1, 2020. However, they also note that that credit line did not have any outstanding amount as of August 31, 2020.

This only reinforces how crucial the act of staging basketball tournaments during the 2020 season is to the NCAA. They recently announced that the men’s tournament for 2021 would be held exclusively at Indiana venues, which is quite a contract considering the fact that the tournament typically finds itself at a variety of locations around the country.

According to the most recent statement, the NCAA is set to receive $850 million from Turner and CBS during the 2021 fiscal year. Once again, the NCAA has event cancellation insurance in place for the 2021 tournament, which includes coverage for the pandemic. However, the amount of that coverage is not provided.

While things are going a bit closer as originally planned this year, many college commissioners are worried about increasing COVID-19 rates after the basketball season. Matt Norlander from CBS Sports reports the potential mid-season pause for basketball. Three factors here are giving administrators a tough choice to make, including lack of vaccine access, students returning to campus, and possibly new coronavirus restrictions from the federal government.

The NCAA basketball tournament is a significant revenue generator for the NCAA. To make sure that tournament is played this year, they will do everything they can possibly do, even if it means pushing the tournament back a month or two.

Tags: , , , , , ,

Related Article

Newsletter

Newsletter

Sign-up to be the first to get notified about the latest blogs!