<p>Lots of football programs lose money. Dan Fulks was the professor hired by the NCAA to analyze football finances in response to a congressional inquiry:</p>
<p>“For the 2006 fiscal year, 19 institutions in Division I-A football reported a profit from athletics, with an average of $4.3 million, according to Dan Fulks, an accounting professor at Transylvania University who analyzes athletic finances for the NCAA. Those 19 included many SEC schools, he said. The 99 other schools lost an average of $8.9 million.”</p>
<p>16 D-1 schools had a profit from their football programs that year. 99 D-1 Schools (that would be 86% of the D-1 schools) LOST money on their football programs. </p>
<p>And I still maintain that many real costs of college athletics are not charged to the athletic department, and football and basketball have more of these costs than any other sports. For example, at CU, which had massive legal expenses related to the football team, those expenses were not charged back to the athletic department. Similarly, the expenses of NCAA academic representatives aren’t necessarily charged back, and the athletic programs are often not charged for the capital expenditures associated with their programs, or for the liability insurance costs that would not be incurred were it not for these programs.</p>