Praxis Makes Perfect

The counterargument is that college athletic departments fund themselves and actually put money back into a school’s general fund. This is simply not true. The October Knight Commission report of college presidents stated that the 25 top football schools had revenues on average of $3.9 million in 2008. The other 94 ran deficits averaging $9.9 million. When athletic departments run deficits, it’s not like the football coach takes a pay cut. In other words, if the team is doing well, the entire school benefits. If the football team suffers, the entire school suffers. This, to put it mildly, is financial lunacy. A school would statistically be better off if it took its endowment to Vegas and just bet it all on black.

—How Sports Attacks Public Education (via azspot: newleft)