According to the Associated Press, the NCAA will furlough its staff of approximately 600 persons for three to eight weeks. The NCAA memo, obtained by the Associated Press, says the furloughs will begin Sept. 21.
All staff will experience a three-week furlough on that date, though some staff will be furloughed by up to eight weeks. However, furloughs do not impact senior executives. Instead, according to USA Today, senior management is taking 20% pay cuts.
“We are committed to supporting our member schools and conferences and student-athletes in every way possible, and yet I expect that some of our services to membership may be limited or delayed during this period furloughs,” wrote NCAA President Mark Emmert in the memo. “I ask for your patience as we all strive to weather these difficult times together.”
According to the NCAA, it "receives most of its annual revenue from two sources. That money is distributed in more than a dozen ways—almost all of which directly support NCAA schools, conferences and nearly half a million student-athletes." Those sources are the Division I Men's Basketball Championship television and marketing rights—which brings in $867.5 million—and championships ticket sales, which bring in $177.9 million.
The NCAA’s annual revenue in 2019 was $1.1 billion.
Only five of the NCAA's 90 championships are profitable. Those are men’s basketball, men’s ice hockey, men’s lacrosse, wrestling and baseball.
Private payrolls grew by 428,000 in August, ADP reported on Wednesday, well below the 975,000 expected from economists surveyed by FactSet though still better than July's tepid 167,000 positions created.
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