Every March the NCAA hosts the March Madness NCAA Basketball tournament. This year the tournament began on St. Patrick’s Day and will conclude on April 6. Each year, the NCAA increases the revenue potential. Before last year not all games were shown on TV, but to capitalize on ad revenue they have made it possible to view all the games. Here are some more money and number facts related to March Madness and college sports that may surprise you.
- March Madness ad revenue is higher than all other postseason sports. It exceeds $1 billion, while the NFL postseason spend is $976 Million. The NBA Playoff spend on ads is $536 Million. The MLB playoffs and World Series spend combined is $354 Million.
- CBS Sports and Turner Network have exclusive deals with the NCAA for showing the tournament games.
- The average cost of a 30 second ad during the tournament is $1.5 million.
- The average salary of the 68 coaches of the teams in the tournament last year was $1.4 million.
- If a coach makes it to the Sweet Sixteen, typically they receive a bonus between $20,000 and $100,000.
- Duke’s legendary head coach, Mike Krzyzewski, earned over $9.6 million last season.
- In 2012, the sports director of the University of Texas made more than the university president.
- The players do not receive any payment. The NCAA states that they are paid by receiving an education (and let’s be real, there are some other nice perks involved).
- According to CBS News, Division 1 NCAA basketball players spend an average of 37.2 hours a week devoted to the game.
- Alabama spent $2,000,000 on their practice facility. It has a hot tub the size of a pool.
- Kentucky has a designated dorm for their basketball players, with a private chef, lounge, recliners, pool table, buffet meals, TVs throughout, and all the sinks and showers are custom built for people 7’ tall.
- 40 million people are estimated to fill out 70 million brackets.
- The gambling on these brackets is estimated to reach $9 billion.
- Having a presence in the tournament has shown an increase in endowments and donations to the schools.
- Small schools in the tournament will see an increase in applications and an increase in licensing for apparel.
- The odds of getting a perfect bracket are 1 in 9.2 quintillion. The odds are so low that Warren Buffet says he will give $1 Billion to anyone who gets it all perfect. Of course, you have to have registered the bracket before the games started.
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