Paying College Athletes 3
reputation is another thing entirely (Ohio State’s Jim Tressel resigns amid NCAA
investigations; Fans, school look to a new coach, 2011).
With the amount of money that flows through the NCAA it would only make
sense that the labor force that makes it possible for coaches to make such ludicrous
amounts of money and who cause marketers to spend millions of dollars make money
themselves. Such is not the case, and they are expected to be content with
scholarships that do not even cover the full cost of attending their college of choice
(Nocera, 2011).
Where Will the Money Come From?
The hardest part about paying college athletes is finding out where the money to
pay them is going to come from, because surely, it would be a nightmare considering
that the overwhelming majority of athletic departments operate in a deficit (Wilbon,
2011). When that is mentioned it is hard to make a case for paying athletes. That is,
until someone looks at the money that flows through the NCAA and some of the
divisions that make up the NCAA.
The NCAA signed a $10.8 billion dollar deal with CBS/Turner that is set to expire
in 2024. The deal gives CBS the rights to broadcast three weekends of basketball every
year. Those that are unfamiliar with college basketball will have trouble recognizing the
event that is being alluded to but those that are familiar will undoubtedly recognize
those three weeks as March Madness. On top of the CBS and NCAA deal, the Bowl
Championship Series, or BCS signed a four year deal with ESPN wherein ESPN pays
the BCS $500 million (Wilbon, 2011).