PSU: Fine not as impactful as it seems

825121.png

PSU: Fine not as impactful as it seems

By RACHEL COHEN & BRENT KALLESTAD
NEW YORK -- The 60 million fine levied on Penn State by the NCAA doesn't look so big next to the scale of the athletic department's finances.
Penn State plans to pay the fine, part of sanctions announced Monday over the child sexual abuse scandal, in five annual installments of 12 million.
The Penn State athletic department had more than 116 million in revenue to more than 84 million in expenses for the 2010-11 school year, according to data reported by the school to the U.S. Department of Education. The expenses don't include debt service or capital expenditures.
Penn State won't be able to save money by making cuts in other sports. The NCAA specifically prohibited that as part of the punishment.
Instead of simply cutting costs, the athletic department can make up for any shortfalls in another way: raising money.
Major college athletic departments receive significant financial support from booster clubs. The Nittany Lion Club took in more than 82 million for the 2011 fiscal year, according to its annual report. That includes 34 million in special gifts for facilities. Its annual fund brought in 17 million, and donations for suites and club seats at Beaver Stadium totaled 12 million.
There were 50 contributors who gave at least 20,000 each.
Bob Harrison, Class of 1962, has donated more than 250,000 to Penn State in his life. Frustrated that the NCAA based its sanctions on what he considers a deeply flawed Freeh report, Harrison's support for the school and the athletic department has not wavered. And he believes he's not the only booster who feels that way.
"I would say a high percentage supporting the athletic program will continue to," said Harrison, who worked for Goldman Sachs for 28 years.
Pennsylvania Gov. Tom Corbett demanded assurances from the university that taxpayer money would not be used. Penn State said it would cover it with its athletics reserve fund and capital maintenance budget and, if necessary, borrow money.
The reduction in football scholarships handed down by the NCAA will save the athletic program some. The accompanying bowl ban could also reduce costs, because schools often lose money on lower-level bowls.
The NCAA said the 60 million represented the average annual gross revenue of the football program. The money will go toward outside programs devoted to preventing child sexual abuse or assisting victims.
The Big Ten also announced that Penn State would not be allowed to share in the conference's bowl revenue during the postseason ban, an estimated loss of about 13 million.
At Penn State, the men's basketball team had profits of nearly 5 million in 2010-11, according to the Department of Education report. Teams other than football and men's basketball had about 23 million in expenses, and the athletic department spent another 36.5 million on expenses not allocated to a particular sport. Football cost 19.5 million.
Of course, football revenue could lag if the team struggles badly on the field as a result of the sanctions, and ticket sales decrease.
The university said earlier this month that its fundraising was strong over the past year despite the scandal. Penn State received more than 208 million in donations for the fiscal year that just ended, the second-highest total in school history.

Former Virginia Tech coach Frank Beamer appointed to CFP committee

Former Virginia Tech coach Frank Beamer appointed to CFP committee

IRVING, Texas – Former Virginia Tech coach Frank Beamer, Ohio State athletic director Gene Smith and Robert Morris University President Chris Howard have been added to the College Football Playoff selection committee.

The three new members will begin three-year terms next season. College Football Playoff Executive Director Bill Hancock also announced in a statement Tuesday that Texas Tech AD Kirby Hocutt will return next season as the committee chairman and his term will run through February 2018.

Beamer, Smith and Howard replace Wisconsin AD Barry Alvarez, former U.S. Secretary of State Condoleezza Rice and former Michigan coach Lloyd Carr. Alvarez and Rice completed three-year terms this past season. Carr resigned from the committee during last season, his first on the panel, because of health issues.

Hancock also announced that the term for former Vanderbilt coach Bobby Johnson will extend through February 2019.

Beamer retired after the 2015 season, his 29th as Virginia Tech's head coach. He went 238-121-2 with the Hokies and led them to 23 consecutive bowl appearances.

Smith is in his 12th year as athletic director at Ohio State after serving as AD at Arizona State, Eastern Michigan and Iowa State. He also played and coached football for Notre Dame in the 1970s and early 1980s.

The 46-year-old Howard is one of the youngest university presidents in the country. He is a graduate of the U.S. Air Force Academy and former starting running back for the Falcons football team. Howard was a Rhodes scholar, attending Oxford University from 1991-94.

"All three played college football. And they will continue the CFP tradition of committee members with high integrity and a passion for college football," Hancock said in a statement.

RELATED: THE 25 UGLIEST UNIFORMS IN COLLEGE FOOTBALL

Perrantes, No. 19 Virginia roll past Clemson

usatsi_9809124.jpg
USA TODAY Sports Images

Perrantes, No. 19 Virginia roll past Clemson

CLEMSON, S.C. -- Virginia's London Perrantes thought about getting to Clemson a little early. After all, who doesn't love a parade?

"I thought that was cool," Perrantes said of the Clemson's football national championship parade and ceremony Saturday morning. "I wish I got to witness that. It was crazy packed coming in here."

Perrantes put on a show of his own in the game, making four 3-pointers and scoring a season-high 25 points to lead the 19th-ranked Cavaliers to a 77-73 victory against the Tigers.

It was the senior's second straight game with 20-plus points after coach Tony Bennett encouraged him to shoot more often.

"He kind of gave me that confidence to go out and play," Perrantes said.

The Cavaliers (13-3, 3-2 Atlantic Coast Conference) shot 58 percent from the field in their second straight win since dropping two in a row to Pittsburgh and Florida State. Marial Shayok tied his career high with 17 points, and Isaiah Wilkins finished with eight points and 13 rebounds.

Virginia blew a nine-point lead in the second half, but Perrantes stepped up for the Cavaliers down the stretch. After Clemson tied it at 70 on Jaron Blossomgame's three-point play with 2:18 left, Perrantes made his fourth 3-pointer to put Virginia back in front.

Perrantes pushed the lead to 75-70 with another basket with 41 seconds left, prompting many of the fans to head for the exits.

"When we need him the most he shows up," Shayok said. "When he's rolling, everybody's rolling."

It was a festive day at Clemson (11-6, 1-4), with the school holding a big party to celebrate its first national championship in football in 35 years. But the basketball team dropped its fourth straight game since winning nine in a row.

Blossomgame led the Tigers with 22 points, and Avry Holmes and Gabe DeVoe each scored 15.

"This is our fourth league game that's come down to the last minute and we've only won one," said Brad Brownell, Clemson's seventh-year coach. "That's frustrating for all of us."

The Cavaliers shot 10 for 18 on 3-pointers, just the second time this season they finished with double-digit baskets from behind the arc.