In the article, "College Basketball's Real Billion-Dollar Winners" written March 20, 2014 by Chris Isidore, he talks about the money involved in March Madness. Isidore says that it is not likely that someone will win the Warren Buffet-backed $1 billion dollar prize. But there will still be "big-dollar" winners. Men's college basketball produces $1.4 billion in revenue and the winners will be the ones splitting this money. For example, the University of Louisville has the richest basketball program in the country. This men's team alone had a revenue of $42.4 million, which produces a $26.7 million profit. The largest part of the revenue comes from the 14 year broadcast contract between NCAA and CBS. Out of all this profit made college athletes are wondering why they aren't being payed.
It doesn't surprise me that colleges make this much money off of sports like basketball and football. But most college players are offered scholarships to play sports, so I don't think it's necessary to pay them. I agree, that is a lot of money but it can be used to provide scholarships for future athletes. March Madness helps many colleges make more money and it increases ticket sales.
http://money.cnn.com/2014/03/20/news/companies/ncaa-dollars/index.html?iid=SF_BN_Lead
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