No athletic department could match what Kansas State did in 2010-11, according to an ESPN report.
The department was the most profitable of 99 public schools that field Division I-A football teams, pulling in a net income of nearly $23 million, according to open records requests for audited financial reports that schools submit each year to the NCAA. The 2010-11 fiscal year is most recent data available.
As for the methodology for defining net income, that is up for debate.
"The long-term prognosis is not good," Brand wrote to colleagues. "I am currently undergoing chemotherapy, and I am receiving excellent care. I will know in the next several months the success of this treatment."
Pancreatic cancer has a dismal survival rate and is often called a "silent killer" because it is difficult to detect in early stages.
Times are tough. The economy is a mess, corporate America continues to send jobs overseas, workers everywhere are getting laid off and yes, "student-athletes" are still being exploited.
Then there is one Myles Brand, head of the NCAA. His compensation for 2006-07 was $935,000, a 4% raise from the previous fiscal year. That is more than every public university president in the country.
Yes, the NCAA, which listed its tax-exempt purpose as keeping sports as "an integral part of the educational program and the athlete as an integral part of the student body," is rolling in money. At least eight other officials are pulling down over $275,000. The governing body also paid $971,000 to a company that provides charter air travel. Must be nice not having to rub elbows with the common folk.
People should be outraged. At least one group took action. A class-action lawsuit brought by former college athletes who alleged the NCAA failed to cover the full cost of their education was settled earlier this month. The tax records revealed that the NCAA paid $18.6 million for plaintiffs' attorneys' fees and a fund for former athletes to settle lawsuit.