he
richest university sports league in the world is NCAA's college basketball
tournament - known to sports fans as March Madness or the The
Big Dance. Here's a brief description:
Structure : This knockout tournament features 64 teams and 63
games spread over 10 days (3 weekends) in the month of March. The
tournament culminates in the Final Four, which eventually leads to
the national champion in college basketball.
So who gets to participate in the tournament? The NCAA operates around
30 regional round-robin leagues within conferences, or groupings of
universities, throughout the nation. The winner of each conference automatically qualifies for
the tournament. The remaining teams are chosen by a selection committee
based on their performance during the regular season.
Television : CBS has signed a 11-year $6 BILLION deal
with National Collegiate Athletic Association (NCAA) for exclusive
telecast rights on television, radio and the internet media. This deal
will give the NCAA an average of $545 million a year through 2013.
CBS has telecast the Final Four since 1983.
Money Distribution : What happens to the millions of dollars
obtained by the NCAA from the television networks? Are there petty bureaucrats and small-minded
officials who pocket the money?
Most of the money goes to pay sports scholarships to 40,000 male and
female athletes in Division I universities in USA. A full sports scholarship includes room, board, books and
tuition. Other expenses go into the running of the regular season and the
NCAA tournament, marketing,
licensing and other promotions.
Milestones in the Tournament History
1979
Magic Johnson's Michigan State University beats Larry
Bird's Indiana State University in the NCAA championship game. The
thrilling final galvanized the nation, set a television ratings record
(24.1) and elevated the Final Four to the Super Bowl status.
1982
Michael Jordan of the University of North Carolina hit a
jumper in the final seconds to beat Georgetown University in the NCAA
championship game.
1994
Bill Clinton becomes the first sitting president to attend the
Final Four. His university, Arkansas, goes on to win the national
championship.
1995
NCAA signs an 8-year $1.7 billion television rights deal with CBS,
running through 2002.
1999
NCAA signs a 11-year $6 billion television rights deal with CBS,
effective from 2003 to 2011.