Monday, December 12, 2016

Where the money is spent

When it comes to colleges, a heck of a lot is spent on football. One recent study found that 48 large football programs in 2014 spent a combined $772 million on football facilities -- a nearly 90 percent increase from 2004. Another study reported that only 24 Division I schools are making money on sports. That means over 300 schools are losing money -- a combined $2 billion a year. It is estimated that $100 billion has been spent on college sports in the past 11 years.

What is the money spent on? Infrastructure, such as stadium renovations with new press boxes, additional seating, giant jumbotrons, luxury suites, private jets, five-star hotels and large staffs. State-of-the-art training facilities are built with locker rooms, sports medicine centers, meeting rooms, weight rooms, nutrition centers and indoor practice fields. Clemson even offers a barber shop, bowling alley and laser-tag equipment for football players.

Then,of course, there's the coaching. The highest-paid public employees in 39 states are college football or basketball coaches. The highest-paid football coach in 2016 is Jim Harbaugh from the University of Michigan, who collects a $9 million salary. Nick Saban from Alabama will take home nearly $7 million, and Urban Meyer from Ohio State will collect $6 million. It is also not uncommon for schools to pay former coaches millions of dollars after they have been fired. A combined total of $50 million in "dead money" was paid to coaches for doing nothing last year.

Shouldn't some of this money not be spent on basic human necessities, such as education, health care and affordable housing?

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