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

[TYBG]

I'm pretty sure Big 4 companies audit

edit: Nothing to do w/ financial statements or taxes..business matters

 

[mastermind]

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?

they said profit


and most big time athletic departments are self sustained

 

[jadillac]

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?

It's profit. ESPN showed it earlier...Texas, ND, Penn St. are the top 3 most profitable football programs and it showed PSU making $60 mil PROFIT.

 

[CrimsonTider]

$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.

they said profit


and most big time athletic departments are self sustained

It's profit. ESPN showed it earlier...Texas, ND, Penn St. are the top 3 most profitable football programs and it showed PSU making $60 mil PROFIT.

The NCAA said the $60 million was equivalent to the average annual revenue of the football program. The NCAA ordered Penn State to pay the penalty funds into an endowment for "external programs preventing child sexual abuse or assisting victims and may not be used to fund such programs at the university."

 

[Da King]

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

which is why the 60 million is a fukking joke, one rich alumni cac would pay that in a day

 

[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

HARRISBURG, Pa. — A Pennsylvania state senator sued the NCAA on Friday over its use of the $60 million fine that Penn State is paying for its handling of the child molestation scandal involving former assistant football coach Jerry Sandusky, two days after the governor filed an antitrust lawsuit against the organization.

Sen. Jake Corman, who represents the area where Penn State’s campus is located and chairs the Senate Appropriations Committee, claims the NCAA’s plans to spend the $60 million are an illegal violation of his oversight role for state government spending.

“Even though the NCAA intends to wrest such a large sum of Pennsylvania public funds, it has refused to submit to any control by Pennsylvania elected officials and refused to commit more than 25 percent of those public funds to Pennsylvania causes,” Corman’s lawsuit said.

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Budget figures show the state contributed $214 million this year to Penn State’s $4.3 billion budget.

NCAA spokeswoman Emily Potter declined comment on Corman’s suit.

On Wednesday, Gov. Tom Corbett sued in federal court in an effort to have all of the Sandusky-related NCAA penalties thrown out, including the $60 million fine, a four-year bowl ban and a reduction in football scholarships. The NCAA called that action meritless.

Friday also featured further legal maneuvering by a pair of Penn State administrators accused of covering up abuse allegations against Sandusky and an order restricting the use of electronic devices at a hearing next week in Sandusky’s criminal case.

The county court filing by former Penn State administrators Gary Schultz and Tim Curley focus on the actions of Cynthia Baldwin, Penn State’s former chief counsel. The pair of court filings further explore their previously stated claim that their rights were violated when Baldwin accompanied them to grand jury appearances two years ago.

Curley and Schultz argue they were illegally deprived of adequate legal representation. At issue is whether Baldwin was acting as their lawyer, or solely on behalf of the university.

take them bytch ass NCAA to court

 

[big bun]

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

at you ignoring facts.

 

[Mr swag]

at you ignoring facts.

60 million of tax payer money going to a football organiztion????

so i can start an volleyball organzation and fine the federal government trillions???