College basketball and football together generate more than $6 billion in annual revenue. Television deal terms are skyrocketing. Two years ago, the NCAA and CBS/Turner Sports agreed on a $10.8 billion deal to broadcast March Madness basketball games till 2024. The Big 12 conference has a 13-year contract with ESPN and Fox for $2.6 billion; the ACC has a deal with ESPN for $3.6 billion. That cash sluices everywhere on campus, irrigating many stadiums, halls and quads, but not one penny ends up in an athlete’s pocket.
Ponder this as you watch March Madness these next few weeks.
After his team’s championship win, according to Grantland, Nick Saban was asked by a reporter why he continues to coach instead of retiring after so many victories. Saban pulled a spin move with a righteous turnaround: “Why do you do what you do? Are you driven to be the best at what you do?” What he didn’t add was that he is set to make $45 million over the next eight years. On top of that, he can add whatever endorsement deals he gets and whatever Nike pays him and the university to outfit the team in its gear. His players receive nothing.
