Sensitive NCAA Financial Data Leaked
Sensitive NCAA Financial Data Leaked
Some interesting financial data from the NCAA surfaced this week, apparently on accident. According to reports, officials with the NCAA left its internal SharePoint site unprotected, allowing anybody who stumbled onto the site access to some very sensitive economic data. The information included several years of accounting figures, slideshows, and much more. The info was discovered by a visitor to Cats Illustrated, a Kentucky Wildcats fan website, and someone informed bloggers at Deadspin, a sports news-based blog site.
The NCAA eventually learned of the unprotected data, and blocked the public's access, but not before Deadspin writers were able to download copies of all the exposed data and publish the figures on the Internet. After the info was published, the NCAA released a statement saying that the information had always been available, though no one knew it was there. According to one reporter who has followed the NCAA for more than 30 years, this is the first time in history that such sensitive details of the NCAA's finances have been revealed.
According to Deadspin, the info showed that the NCAA took in $693 million in revenue in 2008, with the majority coming from that year's March Madness men's basketball tournament in San Antonio. The data shows that 51 percent of that revenue, or $359 million, was returned to Division I schools, while $230 million, about 33 percent, was used to stage various championship events. Another $26 million was used by the NCAA in its “management and general fund,” leaving about $24 million in profits for the NCAA.
Some interesting financial data from the NCAA surfaced this week, apparently on accident. According to reports, officials with the NCAA left its internal SharePoint site unprotected, allowing anybody who stumbled onto the site access to some very sensitive economic data. The information included several years of accounting figures, slideshows, and much more. The info was discovered by a visitor to Cats Illustrated, a Kentucky Wildcats fan website, and someone informed bloggers at Deadspin, a sports news-based blog site.
The NCAA eventually learned of the unprotected data, and blocked the public's access, but not before Deadspin writers were able to download copies of all the exposed data and publish the figures on the Internet. After the info was published, the NCAA released a statement saying that the information had always been available, though no one knew it was there. According to one reporter who has followed the NCAA for more than 30 years, this is the first time in history that such sensitive details of the NCAA's finances have been revealed.
According to Deadspin, the info showed that the NCAA took in $693 million in revenue in 2008, with the majority coming from that year's March Madness men's basketball tournament in San Antonio. The data shows that 51 percent of that revenue, or $359 million, was returned to Division I schools, while $230 million, about 33 percent, was used to stage various championship events. Another $26 million was used by the NCAA in its “management and general fund,” leaving about $24 million in profits for the NCAA.
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