The NCAA is distributing $200 million in a one-time payment to D-I schools next month, with per-school allotments ranging from $165,000 to over $1 million. The cash comes from an endowment that the NCAA is liquidating.
The slice each school gets from the pot is determined by how many scholarships the school funded during the 2013-14 academic year. So the bigger your athletics department, the more money you’re getting. NC State will receive nearly $871,000, which is the sixth-highest allotment among current ACC member institutions. Let us celebrate this free cash with a money fight!
The money actually does come with a lot of restrictions from the NCAA, so NC State could not, for example, go out and put a down payment on a gold-plated recruiting yacht. (Yeah, I know, I was disappointed to learn this as well.)
The money is to be put toward “the direct benefit of the student-athlete and their academic success, life skills, career success, health and safety and student-athlete focused diversity and inclusion initiatives,” according the Q&A document. The money cannot be used for items such as coaches’ salaries, strength equipment, and stadium or arena improvements aimed at fans.
So I guess we could go buy some new computers or renovate a study hall or something lame like that. Or perhaps make a bulk purchase of the finest pocket protectors this money can buy. Or hire a life coach for every player on the men’s basketball team. It is a high pressure sport, after all.