Today’s tourist journalist is Joe Moglia, Executive Advisor to the President and Chairman Emeritus of Athletics at Coastal Carolina University.
The NCAA makes some big—frankly incredible—claims about its “mission and interests” on its site. Things like” organize and provide safe, fair and equitable competitors”, “provide world-class services to student-athletes and members that utilize the NCAA’s social scale”, “grow the college sports ecosystem”, and “deliver green funding for the NCAA mission”.
It all sounds pretty good. It’s even a house of accounts.
The business spent an remarkable$ 234 million on constitutional charges in fights against antitrust complaints and NIL dispute over the past four fiscal years. This is in addition to the$ 15 million that they have spent lobbying Congress for since 2019 ( along with the Power 5 ). Aside from winning a wrongful death lawsuit involving a injury, they have little to support it.

The NCAA has lost on NIL numerous times in jury. Following Judge Claudia Wilken’s request for the events to “go back to the drawing panel,” a little ballyhooed arrangement is in serious danger. The NCAA would be in danger if the lawsuit were to decline, but all of the organization’s expenditure on high-cost attorneys has failed to produce any results.
In 2011, the NCAA simply spent$ 4.1 million on legal fees, compared to$ 61.5 million next year. The group’s opportunities just generated$ 2.5 million more than they expended on legal costs last year. This is the business equivalent of a 103 degree temperatures. Something is very, very bad.
In what planet is wasting almost a quarter of a billion dollars over the course of four years on lawyers who are fighting to get players ‘ settlement in the interests of any of the organization’s stated beliefs?
Adding insult to injury, original NCAA President Mark Emmert was awarded$ 4.3 million in severance—compared to the$ 3.3 million he earned in 2022—when he stepped down last season. For what? He did a bad task running the business. He failed to take the NIL leadership, lost in the Supreme Court, and gave his son the option of trying unsuccessfully to entrance Washington in an effort to clear up the mess.
The committee would be in crisis mode if a big company’s CEO ignited the money in this manner. But the NCAA gets special care, because it pretends to be a non-profit that protects young players. But what kind of non-profit generates$ 1.26 billion in TV profit?
In fact, the NCAA drains funds from the program, spends hundreds of millions protecting itself, and delivers little of significance to its part companies or student athletes. The purpose of the NCAA has changed from protecting student sports and institutions to perpetuating the institution.
The funds used to compensate Emmert and pay light shoe law firms could have been used by athletics departments and universities to use them or to pay off specialized student athletes. However, many people forget that the NCAA is meant to serve them and not the other way around. University officials will eventually have to acknowledge that the NCAA is squandering money that could be used for different purposes and instead uses it for self-defense and compensation. The NCAA has repeatedly demonstrated that it is unable to resolve the issues facing school sports. It can scarcely protect itself. College sports need to walk on.

Moglia was TD Ameritrade’s CEO and president before becoming the chair of Fundamental Global LLC and Capital Wealth Advisors. He led the staff to four conference titles and a 56-22 general report as Coastal Carolina University’s head football coach in 2012 and became the program’s head coach in 2012. He is currently Coastal Carolina’s Chairman and President Emeritus of Athletics. You can find him on his site, on his LinkedIn website and on Twitter.