March Madness Money
Pacific’s participation in the NCAA’s March Madness basketball tournament is generating lots of excitement. But it probably won’t generate a lot immediate revenue for the school.
Friday, March 18, 2005
CBS is paying the NC-double-A six billion dollars to broadcast March Madness games through 2013. The NCAA funnels much of the money to the various conferences that are represented in the tournament. The farther a team progresses, the more money the N-C-A-A pays their conference. Pacific is a member of the Big West Conference, which receives the revenue generated by its ten teams. Commissioner Dennis Farrell says after expenses are paid, the schools get a cut. "The rest will be divided equally among the conference members. So each school will get roughly fifteen thousand dollars this year."
That's not a lot of money for a sporting event that's become, not just big, but a huge business. Pacific officials say there are benefits from participating. National exposure enhances the university's image. And some alumni, pleased with the accomplishment, dig a little deeper into their pockets for contributions to the endowment fund.