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Originally Posted by Smittie61984
Okay thanks. Do they still get to make money off of their stuff? If so then this is probably a good thing for them. Instead of wasting money on scholarships for dumbass jocks who probably realistically have a 6th grade education +/_ a grade or two, they can take that same money and invest in the smart kids and move themselves up in the college rankings. Bowl ban ends, now in top 30, and can overcome my theory that the more important college football is to a national university the dumber the school.
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Actually, the Penn State football program brings in significantly more money than it costs and supports other programs that dont make money. With this punishment theyll have to borrow money from the school to keep things going. Last year the football program brought in $58.9M and the total cost of all athletic scholarships at the school was $12.3M
http://www.bloomberg.com/news/2012-0...ince-2006.html
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Football Revenue
The Nittany Lions generated $116.1 million in revenue in fiscal 2011 and turned a profit of $14.8 million, according to the school’s NCAA revenue and expenses report. Football accounted for $58.9 million in revenue and $43.8 million in profit, which helped support the school’s money-losing sports. The athletic program will borrow as much as $12 million annually each of the next five years to cover the NCAA fine, and the school will expect football to help pay the debt service.
Joyner said contracts as long as 10 years will keep many sponsors in the fold, giving the school time to repair its reputation. The athletic department earned $55.2 million from royalties, licensing, advertisements and sponsorships in the fiscal year ending June 30, 2011, according to school documents. Sandusky was charged in November.
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This is interesting, the 2011 PSU NCAA financial report:
http://www.psu.edu/ur/2012/openness/ncaa.pdf