NCAA walking out with 60 million of tax payer money and no one is talking about this?

[Mr swag]

How is this even legal

So they have a publicly funded school and now they will just take 60 million from tax payers

I smell a lawsuit about to be filed

 

[MMS]

 

[MN Fats]

They actually said that none of this money will come from taxpayer money. Penn St. said it will use reserve athletic funds or borrow the money if it has to. They are paying 5 installments of 12 million. And the money isn't going to the NCAA...its going to charities that help abused children.

 

[Edi]

Penn State received 208 million in donations, they can pay it

 

[Amare's Right Hook]

You didnt touch those kids, someone else did.

 

[Kings County]

Penn State received 208 million in donations, they can pay it

them nikkas who donated feeling

 

[KillbertArenas]

They actually said that none of this money will come from taxpayer money. Penn St. said it will use reserve athletic funds or borrow the money if it has to. They are paying 5 installments of 12 million. And the money isn't going to the NCAA...its going to charities that help abused children.

white lie

 

[the cac mamba]

white lie

 

[jadillac]

The football program makes that in 1 year in revenue.

They'll be fine and it wont be tax money

 

[Mr swag]

The football program makes that in 1 year in revenue.

They'll be fine and it wont be tax money

You understand revenue is NOT profit right?


They really gonna make 60million a year now after this hit? No. So where is the money coming from?

 

[MoneyTron]

You understand revenue is NOT profit right?


They really gonna make 60million a year now after this hit? No. So where is the money coming from?

You act like schools don't have a general fund. The school has an endowment of $1.8 billion with probably half of that not invested in random shyt.

The $60m is going to charities anyway.

 

[Schmoove]

They actually said that none of this money will come from taxpayer money. Penn St. said it will use reserve athletic funds or borrow the money if it has to. They are paying 5 installments of 12 million. And the money isn't going to the NCAA...its going to charities that help abused children.

Riiiiight...

 

[john goodman]

Psu isn't a full blown public school, they get a lot less tax money than you'd think

 

[rantanamo]

$60 million was their average profit/per year from the football/athletic program over the last few years. That's how the NCAA came up with the fine or at least that's what Emmert said this morning.

 

[...and some waffle fries]

You understand revenue is NOT profit right?


They really gonna make 60million a year now after this hit? No. So where is the money coming from?

I swear nikkas are dumb as sh1t! Schools generate money from athletics alone with merchandising, bowl games, national or local tv contracts, tickets sales, etc. Add that annual income up for the past 30+ yrs and 60m is actually very minute to a university like PSU.

Just because they not gon make 60 million from athletics in the future doesn't mean they don't have it.