We can all say that sport is one of a university’s sources of income because it generates a lot of money for the university. The question is, among all the athletic programs that are taking place in the university, which of them generates a profitable income for the university at a steady rate? That is what we will look at in this article. Let’s see What college athletic programs make a profit?
What college athletic programs make a profit?
All college athletic programs make a profit. The question we should be asking ourselves then is which athletic program makes more profit for the university? The answer shouldn’t be far fetched because it is all known that Football is still the most sought after in colleges. Football brings in an average of $32 million per school per year, as reported by financial website Zacks.com and it was set to begin even before the professional National Football Club (NFL) existed.
Apart from it being a revenue producer for colleges, it is also responsible for the development and also the growth of the institution they represent in their locality or region. What school will students like to attend if not the best and sought-after school in their various environments?
However, though the college athletes bring a huge amount and fame to the college annually, they are not permitted to receive monetary compensation both monthly or annually, as disputed by the NCAA (National Collegiate Athletic Association). They are only provided with non-monetary compensation, that is (athletic scholarships in which they scout high school annually to give scholarships to one or two of their best athletes mostly containing the quarterback and some other students), which contains the tuition, the accommodation, books, and other scholarship benefits.
A brief history of NCAA
Annually, at some expected time in the year, a group of men called NCAA goes to high school to scout their potential candidates for the next season’s college matches games, but we didn’t know how or where they originate from. NCAA is an abbreviation that stands for National Collegiate Athletic Association which was formed in 1906, fifty years after the commencement of the inter-varsity college race between Yale and Harvard. In 1906 they were called Intercollegiate Athletic Association(IAA), but due to some reasons, they adopted their current name NCAA in 1910, and that is what they have been using up to date.
The NCAA functions as a body that administers rules and regulations for college athletes in order for them to play fair and safe in every competition. They are not only required during competition but also required in the lives of the athlete’s studies by helping them balance their school activities with their athletics and other social activities they are involved in. Their role doesn’t stop there. They make sure the highest level of integrity and discipline is inculcated in all athletes, and the involved coach and also the student body, institutional autonomy, and philosophical differences are respected by the NCAA, and that has been one of their core values.
What other athletic programs bring profit to college
The average NBA team is worth $1.9 billion, up to 13% over last year and three times the amount from five years ago. Each NBA team received more than $110 million last season from equally-shared revenue like national media, sponsorships, licensing, and international streams. Total NBA revenue hit $8 billion last season, and this rates them as the 2nd revenue producer.
Hockey men’s game is no doubt the third revenue sports producer for colleges with about $2.5 million per school. 35% of the revenue comes from the ticket sale, and the rest comes from Television and media, concession and royalties from licensing.
Total MLB revenue increased from $1.5 billion in the year 2019 to $1.76 billion presently. Most of the total league-wide revenue was generated from their gate fee, likewise Television and media. This no doubt makes baseball the fourth revenue sports producer for colleges.
We are made to know that Football has been one of the athletics that generate income annually for the school they represent, and also how or where NCAA originated from. Other sports that generate revenue annually and how much they generate were talked about
Frequently Asked Questions
- Should the NCAA pay their athletes since they generate income for the school?
The answer is debatable, but if we look at it like this maybe you will rethink your thoughts. The NCAA pays colleges millions of money annually, which goes directly into the college fund, so the NCAA can’t be paying two bodies at the same time; rather, the college should be the one paying the athlete if at all they are to be paid.