Financial Effects Of Coronavirus Felt In NCAA As Revenue Distribution Is Significantly Cut
While NCAA officials prioritized the safety and well-being of coaches, athletes and fans when they cancelled sports for the reminder of the 2019-2020 season, the economic impact of that decision is starting to be felt around the country.
Thursday Sports Illustrated's Pat Forde reported that the NCAA announced a massive slashing of revenue distribution this year's due the cancelation of the March Madness tournament.
According to Forde, the NCAA Board of Governors voted to allot $225 million to member schools, which is 62.5% less than the $600 million they anticipated receiving.
The loss of revenue from conference tournament cancelations is also being felt right now.
The South Carolina women's basketball team was anticipating hosting the first and second round of the tournament
Athletic director Ray Tanner said that the loss from not hosting will not be that huge a blow to the university.
With baseball, softball and spring football cancelled, there could be a sizeable financial loss, but Tanner said he and school officials will deal with that as it comes.
"Certainly there will be economic impact but that has not been our focus," Tanner said. "Our focus has been the health and well-being of everybody involved. People that are that are in this community, in the city, in this state and that's been our emphasis, in particular our student athletes...the financial impact will be there, but that's not our main focus right now."