The NCAA’s rainy day fund is reportedly just a fraction of what it was a few years ago.
According to The Washington Post, the fund was around $500 million back in 2015 in case March Madness was canceled or anything went drastically wrong. Sounds pretty solid, right? There must be a ton of money ready to spend after coronavirus canceled March Madness, right? (RELATED: David Hookstead Is The True King In The North When It Comes To College Football)
According to the same report, the NCAA spent $400 million of it without ever upping the insurance coverage for an event like March Madness being canceled.
That means the rainy day fund is somewhere in the range of $100 million. Below is a live look at the people who made this decision.
How is a situation like this even able to happen? You’d think the geniuses running the NCAA would be more than prepared for all hell to break loose.
There’s simply way too much money on the table to not be prepared. However, it would seem like they were caught with their pants down after allegedly spending 80% of the rainy day fund without increasing the insurance.
Just when you thought your faith in the NCAA couldn’t get any lower, here we are. They better find a fix to this situation ASAP.
There’s literally no excuse for this kind of situation to be unfolding.
