INDIANAPOLIS ( TheStreet) -- In the midst of March Madness, some of the best games in college history are missing winners while powerhouse schools and sponsors are recast as losers.Marcus Camby's 22 points and seven rebounds against Georgetown in 1996 that led the University of Massachusetts to its first Final Four appearance? Didn't happen. Derrick Rose missing a crucial free throw for Memphis in the 2008 championship game? Erased, all because of violations that led the National Collegiate Athletic Association to vacate their teams' post-season appearances and rescind both financial and athletic awards. "The requirement of NCAA membership for any institution is compliance with the rules," says Paul Dee, chairman of the NCAA's Committee on Infractions. "If the committee determines a vacation of record shall apply to wins in the postseason or something for which there might be recognition, anything that's related to them would have to be removed." On its own, vacation of a school's wins is the most clerical of punishments. Wins are removed from the NCAA's statistical database, banners are removed from campuses and records and awards are expunged from the school's books and media guides. Still, since 2000, 16 teams have had wins vacated for infractions that included academic fraud, competition by ineligible athletes, direct involvement of coaches and administrators and, in some cases, complete lack of institutional control. Money can complicate matters if wins are vacated for a revenue-generating program like football or basketball, which also tend to be attached to athletic sponsors like Nike ( NKE), Under Armour ( UA) and Adidas. If the NCAA decides it's necessary to return ill-gotten winnings, that decision can impact both a school and its sports program years later. "The NCAA basketball tournament winnings are paid out over six years and would have to be removed from the conference allotment," Dee says. "If there is to be a penalty that involves the surrender of money or the return of money to a sponsor, that would have to be worked out by the school." Such returns get costly on many levels. College football's Bowl Championship series doled out $142.5 million from its five 2010 bowl games to various athletic conferences. The Football Bowl Association says that smaller contests like the Sheraton Hawaii Bowl, Pacific Life Holiday Bowl and AT&T ( T) Cotton Bowl paid out $200 million to their participating schools and conferences in 2009. The men's basketball tournament uses a slightly more complicated formula involving participation, scholarships and wins to determine which conferences get multiple millions and which ones get a door prize, but sponsors tend to shovel in all their funding at once.