Penn State had the third highest take from college football in 2010, after only Texas and Georgia. What were Penn State’s football revenues? A mere $70.2 million. Its profits were $50.4 million, implying that they spent nearly $20 million on the football program. Of that, coach and abuse-condoner Joe Paterno’s salary alone was over $1 million.
Last year, the average profit for each of the 68 teams that play in a major conference was $15.8 million, or over $1 million per game. Clearly, there’s big money in college football. And whenever big money enters the game, values get shoved to the sidelines.
If I were President, Speaker of the House and Senate Majority Leader, I would enact a law limiting the amount of money that can be paid to a college for television rights. This would get to the heart of the matter. Fans who would object should take a time-out and get their own values in order.
Penn State had the third highest take from college football in 2010, after only Texas and Georgia. What were Penn State’s football revenues? A mere $70.2 million. Its profits were $50.4 million, implying that they spent nearly $20 million on the football program. Of that, coach and abuse-condoner Joe Paterno’s salary alone was over $1 million.
Last year, the average profit for each of the 68 teams that play in a major conference was $15.8 million, or over $1 million per game. Clearly, there’s big money in college football. And whenever big money enters the game, values get shoved to the sidelines.
If I were President, Speaker of the House and Senate Majority Leader, I would enact a law limiting the amount of money that can be paid to a college for television rights. This would get to the heart of the matter. Fans who would object should take a time-out and get their own values in order.