Some very interesting financial information about the NCAA has come to light, and the manner in which it happened is itself the subject of intrigue.
At first, it appeared that the NCAA had mistakenly left its internal SharePoint site unprotected, allowing fans, media and random knuckleheads to have complete access to its most sensitive economic information. It included years of accounting information, slideshows and much more.
Originally the information was spotted on Cats Illustrated, a popular Kentucky fan site. Someone emailed the scuttlebutt to the writers at Deadspin, who were able to get downloaded copies of the data before the NCAA could encrypt the information and make the important files inaccessible to Joe Public.
After Deadspin published it, the NCAA said the documents in question have always been publicly available. But as Bryan Fischer of CBS Sports tweeted, if no one knew the documents were out there, were they really "available?"
In either case, this is likely the first time such information has been reported.
Even the most casual aficionado of college sports is aware the NCAA isn't destitute, but just check out some of the revenue being produced by "amateur athletes" for those who run college sports.
Deadspin reports the NCAA took home $693.2 million in revenue in 2008. A majority of that cash came from March Madness which saw Kansas, Memphis, North Carolina and UCLA -- all No. 1 seeds -- reach the Final Four at the Alamodome in San Antonio. Bill Self's Jayhawks beat John Calipari's Tigers in the championship game.
More than 51 percent ($359 million) of the 2008 NCAA revenue went back to Division I schools, with slightly more than 33 percent ($230 million) used to stage championship events. Another $26 million (3.7 percent) was headed to the NCAA's "management and general fund," leaving 3.4 percent ($24 million) in profit.
In addition, Deadspin reports the NCAA had invested a breathtaking $356 million in different financial markets.
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