PSU: Fine not as impactful as it seems

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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.

Seth Allen's late 3-pointer lifts Virginia Tech past Clemson

Seth Allen's late 3-pointer lifts Virginia Tech past Clemson

BLACKSBURG, Va. – Seth Allen's 3-pointer with 3.8 seconds left to play carried Virginia Tech to a 71-70 victory over Clemson on Tuesday night.

Zach LeDay scored 19 points for the Hokies (19-8, 8-7 Atlantic Coast Conference), who also beat the Tigers by a point on Jan. 22. Virginia Tech won for the third time in four games and moved to 14-1 at home this season.

The loss was the latest in series of excruciating defeats for the Tigers (14-13, 4-11), who dropped their fifth game in their past six outings. Clemson is now 3-10 in games decided by six points or less.

Clemson's Marcquise Reed hit a baseline jumper with 21.6 seconds remaining to give the Tigers a 70-68 lead. Out of a timeout, Allen missed a layup with 10 seconds left, and LeDay got the rebound, but the ball was knocked out of his hands and went out of bounds off Clemson.

Virginia Tech then worked the ball to Allen, who buried a 3-pointer from the top of the key. Allen finished with eight points.

Reed led the Tigers with 18 points.

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No. 18 Virginia struggles against Miami, loses its fourth straight game

No. 18 Virginia struggles against Miami, loses its fourth straight game

CHARLOTTESVILLE, Va. — Bruce Brown made a 3-pointer with 23.8 seconds left in overtime, and Miami beat No. 18 Virginia 54-48 on Monday night for the Cavaliers fourth straight loss.

Brown scored 14 points to lead the Hurricanes (19-8, 9-6 Atlantic Coast Conference) to their third consecutive victory. Kamari Murphy and Dejan Vasiljevic added 10 points each.

Devon Hall scored 15 points to lead Virginia (18-9, 8-7), which last lost four straight in 2009-10, Tony Bennett's first season as coach. Isaiah Wilkins added 10 points and 10 rebounds, including two free throws with four seconds left in regulation to tie it.

Miami thought it had won when Davon Reed hit a 3-pointer at the end of the second half, but a video review was used to determine he released the ball just after the buzzer.

A putback by Marial Shayok with 39 seconds left gave the Cavaliers a 48-47 lead, but Brown made his only 3-pointer of the game on the Hurricanes' ensuing possession, and Miami sealed it at the free-throw line.

Both teams shot under 40 percent, with Virginia at just 31.4 percent, and it wasn't until Hall made a pair of free throws with 3:38 left in the second half that either team broke the 40-point mark. However, the Cavaliers were then scoreless until Wilkins made 1-of-1 on a trip to the line with just five seconds left in regulation. 

CSN Mid-Atlantic contributed to this report. 

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