The NCAA Accidentally Leaks Its Financial Statements

[DiamondDust]

First the link: http://deadspin.com/5860390/the-ncaa-accidentally-leaked-five-years-of-financial-statements-online

As everyone knows, their biggest money maker is the basketball tournament... which is why the football heads will never turn over a playoff to the NCAA.

 

[RJ YellowHammer]

The numbers are shocking, but probably shouldn't be. We knew the deal with CBS and TBS for March Madness was worth a fortune.

 

[frogpelt]

The NCAA is a non-profit.

So, I guess they get to keep all profits that they re-invest?

According to the article they had 24MM in profit in 2008 and approx. 350MM invested in financial markets.

 

[uafan4life]

Some poor IT guy just lost his job.

 

[frogpelt]

The NCAA is a non-profit.

So, I guess they get to keep all profits that they re-invest?

According to the article they had 24MM in profit in 2008 and approx. 350MM invested in financial markets.

I sort of found my answer here: http://www.ncaa.org/wps/wcm/connect/public/NCAA/Issues/Commercialism/NCAA+tax+exempt+status

The non-profit status has been challenged by Congress but the NCAA considers championships part of its distribution to its members and claims that it distributes 96% of its revenue back to those members.

 

[GulfCoastTider]

I had conversations today with NCAA officials who told me that these documents weren't accidentally leaked at all, and that the Sharepoint server they have online is intended for membership and public access.

Here's the link:

http://fs.ncaa.org/Docs/Forms/AllItems.aspx

That link has been live since the Cats Illustrated users found it last night (although they briefly crashed the server). I've been poking around the folders off and on all day. I haven't found anything juicy, shocking or embarrassing, or anything that hasn't already been made public.

Edit to add: I do think that sooner or later, leaving that server wide open is going to result in an NCAA Wikileaks Moment.