Johnny Manziel Rips The NCAA After Report Reveals They Generated $1 Billion In Revenue Last Year
The NCAA is raking in the money and Johnny Manziel isn’t happy about it. Earlier today, ESPN’s Darren Rovell reported that the NCAA had generated a billion dollars for the first time in its history.
The NCAA pulled in more than $1 billion in revenue for the first time in history during the 2016-17 school year.
The $1.06 billion in revenue from September 2016 through August 2017 is reported in audited financials the organization released on Wednesday.
The majority of the revenue came from its usual source — the NCAA men’s basketball tournament. The NCAA pulled in $761 million from the 2017 NCAA tournament. That number is set to rise to $869 million this year.
The NCAA’s expenses were $956 million. The largest chunk of that spending went to dispersing $560.3 million back to its roughly 1,100 member institutions in 24 sports in all three divisions, as well as $200 million for a one-time payment the NCAA made to schools to fund additional programs.
Manziel who was once investigated by the NCAA for his dealings with an autograph broker while in college called out the organization and wanted them to “Pay Up”.