By Brad Hubbard | @bradhubbard
As you fill out your bracket for that office pool you fully intend to win, it’s also a good time to stop and examine the money behind the NCAA Tournament. FRONTLINE looked into this several years ago in an episode called ‘Money and March Madness’.
The revenue generated from the TV rights and the tickets and concession accounts for 90% of the NCAA budget. So this is truly the most important thing for the NCAA. It is the preverbal cash cow.
Andrew Zimbalist appeared on the Nightly Business Report to talk the numbers. Zimbalist is an economist at Smith College and has written several books on finance and sports. Zimbalist points out that the NCAA will bring in about $900 million and distribute about $200 million back to the schools that are in the tournament. While that is an absurd amount a money, the majority goes back to the 1100 schools that make up the NCAA and the 85 other championships that the NCAA helps put on. (The College Football Playoff is not run by the NCAA.)
Go to the 20:27 mark.
Some would argue that this opening weekend of the tournament is the best sports weekend of the year. So while you are pretending to work and really secretly streaming the games on your computer or desperately trying to figure out what channel TRU TV is on, just remember the enormous amount of money that is brought in by the tournament.