Tournament shares sans Tournament

[Edrick]

The NCAA Tournament media rights are already bought and paid for. Furthermore we know exactly how many games (regardless of whether they happen or not) serve as the denominator for the shares.

The question is what do you do if the games do not happen?

What would seem to be the most 'fair' is to have the Selection regardless and simply allocate the shares using the distribution.

I honestly have no idea what they'd do though

[gtmoBlue]

NCAA is between a rock and a hard place. Yes, there is a current contract in place. However, I doubt that CBS/Turner has paid out this year's installment in advance.
Need the tourney to receive this season's TV revenue stream from CBS/Turner.
No NCAA Tourney - no Check from CBS.

As for earning Units. Teams will get new units if the tourney is played (with or without fans in the stands). No tourney - no new units.
Previous years units will continue to be paid out of those years Basketball Fund pots.

2019 Tourney Revenues ($933 Million - $1+ Billion), 2019 Basketball Fund (approx $370 Million), 4% for Op Expenses (approx $37-40 Million).
Hopefully, the NCAA has lied previously and has held back monies from last years' tourney. They routinely state that they dole out the
remaining monies to all Div 1 institutions (approx $526 Million 2019 tourney). If the association actually gave out those funds, they will be broke should this tournament be cancelled.

[XUFan09]

Yeah, athletic departments across the country are going to be wrecked financially if the tournament is canceled.

[redmen9194]

Tournament is going to be cancelled. The major conferences cancelled their tournaments - the NCAA can't go forward.

[stever20]

Tournament is going to be cancelled. The major conferences cancelled their tournaments - the NCAA can't go forward.

not just major conferences- only 2 that are left that didn't cancel so far- MAAC and MEAC. And they still have until like 6pm to cancel today.

[DeltaV]

Yeah, athletic departments across the country are going to be wrecked financially if the tournament is canceled.

I heard on a sports talk radio that (at least some) conferences have insurance to cover the money if it isn't distributed for some reason or other. The main reason it was being discussed was because some minor D1 conference didn't have the insurance (or at least the proper rider for a pandemic).

I'd assume there is something covering the Big East, Madison Square Garden, the NCAA, and CBS/partners. The only problem is, how many companies offer those policies? Probably not a lot...and if there are a ton of claims, along with all the other sports events making claims as well, how long will they stay solvent?

[Savannah Jay]

Yeah, athletic departments across the country are going to be wrecked financially if the tournament is canceled.

I heard on a sports talk radio that (at least some) conferences have insurance to cover the money if it isn't distributed for some reason or other. The main reason it was being discussed was because some minor D1 conference didn't have the insurance (or at least the proper rider for a pandemic).

I'd assume there is something covering the Big East, Madison Square Garden, the NCAA, and CBS/partners. The only problem is, how many companies offer those policies? Probably not a lot...and if there are a ton of claims, along with all the other sports events making claims as well, how long will they stay solvent?

There are a number of insurance carriers that offer an "event cancellation" insurance policy...including some of the biggest carriers in the US/World (like AIG and Chubb). I would guess that the Big East carries a policy for the tournament. This instance could be problematic, though, as a communicable disease/transmissable pathogen outbreak usually requires that outbreak happen on the insured premises, though it's possible that any conference would negotiate a broader coverage trigger that would include something like an epidemic/pandemic not specific to the premises (for example, the coverage trigger could be a shutdown by civil authority, as the city of NY banned all gatherings of more than 200 people yesterday, i believe).

[Edrick]

Can always trust that someone from Omaha is going to know the insurance question.

[gtmoBlue]

NCAA is between a rock and a hard place. Yes, there is a current contract in place. However, I doubt that CBS/Turner has paid out this year's installment in advance.
Need the tourney to receive this season's TV revenue stream from CBS/Turner.
No NCAA Tourney - no Check from CBS.

As for earning Units. Teams will get new units if the tourney is played (with or without fans in the stands). No tourney - no new units.
Previous years units will continue to be paid out of those years Basketball Fund pots.

2019 Tourney Revenues ($933 Million - $1+ Billion), 2019 Basketball Fund (approx $370 Million), 4% for Op Expenses (approx $37-40 Million).
Hopefully, the NCAA has lied previously and has held back monies from last years' tourney. They routinely state that they dole out the
remaining monies to all Div 1 institutions (approx $526 Million 2019 tourney). If the association actually gave out those funds, they will be broke should this tournament be cancelled.

NCAA has tourney insurance... https://www.si.com/college/2020/03/13/n ... ey-revenue