NCAA Slashes Distribution by $375 Million
The NCAA will distribute $225 million to its Division I members in June. That is $375 million less than had been budgeted this year because the coronavirus outbreak forced the cancellation of the men's basketball tournament. March Madness is among the biggest revenue producers for the NCAA and its schools. The NCAA says $50 million will come from its reserve fund. A $270 million event cancellation insurance policy will help pay the rest.