Mind boggling to me.
"The NCAA had a nearly 60 percent depletion in its asset base after incurring $1.4 billion of expenses during its 2016 fiscal year, according to a report Tuesday.
Steve Berkowitz of USA TODAY Sports reported that the association posted more than a decade’s worth of payments in the fiscal year on legal settlements and costs and a special one-time distribution to I schools.
The net result, according to an audited financial statement released Tuesday by the association, was a $404 million loss in the NCAA’s year-end net assets, bringing the total to $294 million, the lowest year-end total since 2006, not adjusting for inflation."
https://www.seccountry.com/sec/repo...cal-year-depleting-60-percent-asset-base#free
"The NCAA had a nearly 60 percent depletion in its asset base after incurring $1.4 billion of expenses during its 2016 fiscal year, according to a report Tuesday.
Steve Berkowitz of USA TODAY Sports reported that the association posted more than a decade’s worth of payments in the fiscal year on legal settlements and costs and a special one-time distribution to I schools.
The net result, according to an audited financial statement released Tuesday by the association, was a $404 million loss in the NCAA’s year-end net assets, bringing the total to $294 million, the lowest year-end total since 2006, not adjusting for inflation."
https://www.seccountry.com/sec/repo...cal-year-depleting-60-percent-asset-base#free
