No Big 10 bowl revenue for four years, either

[jekelish]

Big 10 just announced that for the next four years, PSU will get zero bowl revenue, which would have been an estimated $13 million. The money will instead go to charity.

 

[fairfaxcuse]

wow...if that is accurate, the loss of revenue and combined with the NCAA hit of 60 mill, this just cost the university/state over 110 million.

 

[CuseLegacy]

1. Censure: The accepted findings support the conclusion that our colleagues at Penn State, individuals that we have known and with whom we have worked for many years, have egregiously failed on many levels—morally, ethically and potentially criminally. They have failed their great university, their faculty and staff, their students and alumni, their community and state—and they have failed their fellow member institutions in the Big Ten Conference. For these failures, committed at the highest level of the institution, we hereby condemn this conduct and officially censure Penn State.

2. Probation: The Big Ten Conference will be a party to the Athletic Integrity Agreement referenced in the NCAA release, and will work closely with the NCAA and Penn State to ensure complete compliance with its provisions over the 5 year term of the Agreement.

3. Ineligibility: As referenced in the NCAA release, Penn State’s football team will be ineligible for postseason bowl games. It will also be ineligible for Big Ten Conference Championship Games for four years, a period of time that runs concurrently with the NCAA postseason bowl ban imposed this morning.

4. Fine: Because Penn State will be ineligible for bowl games for the next four years, it will therefore be ineligible to receive its share of Big Ten Conference bowl revenues over those same four years. That money, estimated to be approximately $13 million, will be donated to established charitable organizations in Big Ten communities dedicated to the protection of children.

 

[orange79]

wow...if that is accurate, the loss of revenue and combined with the NCAA hit of 60 mill, this just cost the university/state over 110 million.

How did you get to $110M? 60 + 13 = 73. Or are you counting it as $13M per year? The press release is a bit unclear, I agree. I took it as $13M was the 4 year total. Not sure after rereading it.

4. Fine: Because Penn State will be ineligible for bowl games for the next four years, it will therefore be ineligible to receive its share of Big Ten Conference bowl revenues over those same four years. That money, estimated to be approximately $13 million, will be donated to established charitable organizations in Big Ten communities dedicated to the protection of children.

http://www.bigten.org/genrel/072312aaa.html

 

[rrlbees]

How did you get to $110M? 60 + 13 = 73. Or are you counting it as $13M per year? The press release is a bit unclear, I agree. I took it as $13M was the 4 year total. Not sure after rereading it.

4. Fine: Because Penn State will be ineligible for bowl games for the next four years, it will therefore be ineligible to receive its share of Big Ten Conference bowl revenues over those same four years. That money, estimated to be approximately $13 million, will be donated to established charitable organizations in Big Ten communities dedicated to the protection of children.

http://www.bigten.org/genrel/072312aaa.html

13 is the estimated 4 year total i think.

 

[CuseTroop]

How did you get to $110M? 60 + 13 = 73. Or are you counting it as $13M per year? The press release is a bit unclear, I agree. I took it as $13M was the 4 year total. Not sure after rereading it.

4. Fine: Because Penn State will be ineligible for bowl games for the next four years, it will therefore be ineligible to receive its share of Big Ten Conference bowl revenues over those same four years. That money, estimated to be approximately $13 million, will be donated to established charitable organizations in Big Ten communities dedicated to the protection of children.

http://www.bigten.org/genrel/072312aaa.html

You would think the PSU gets more than 3.25 million a year from the Big Ten right?

 

[fairfaxcuse]

my bad...i thought it was 13 per year based on original post. the link clarifies its- not nearly as big a fine.

 

[rrlbees]

You would think the PSU gets more than 3.25 million a year from the Big Ten right?

Bowl money.

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[CuseTroop]

Bowl money.

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ahh my bad