March madness is back again! This tournament is the money maker for the National Collegiate Athletic Association (NCAA) as it generates more than $800 million, which is about 75% of the NCAA’s yearly revenue.
Did you know that CBS and Turner broadcasting paid $10.8 billion for exclusive media rights between the two companies or that $1.32 billion was spent on advertisements in 2018? These figures fall only behind the National Football League (NFL). Companies are willing to spend this money, as young, college educated men tune in to view the tournament, and this demographic is a hard one to reach.
Despite all of these ridiculously large numbers, the players themselves see no money in return for being the reason it all exists! Coaches get bonuses for making it to the Big Dance, and Coach Calipari from the University of Kentucky makes more than the president of the United States, with a salary of $400 000 plus and an additional $5 million in endorsements! The NCAA claims that they are paying the players thousands by giving them a university education, but these players are at school for the basketball, and few will complete their degree.
The debate has long been raging about whether student athletes should be paid or not.