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NCAA Reportedly Posts $9 Million Deficit In 2015 Because Of Stock Market Decline

The NCAA is not accustomed to losing money, but 2015 was a different story.

According to a report by USA Today's Steve Berkowitz, the NCAA posted loses of more than $9 million in 2015, marking "the first time the association has had an annual deficit in the 11 years for which USA TODAY Sports has compiled its financial statements." Prior to 2015, it had never posted a surplus of less than $10.9 million, Berkowitz says. 

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Why the drastic change? NCAA spokeswoman Stacey Osburn told USA TODAY the association attributes most of those losses to the large stock market decline that occurred in August 2015.

From Berkowitz's story:

A comparison of the association’s past two financial statements shows that the annual loss for 2015 is driven by a dramatic change in the performance of the association’s investments. In fiscal 2014, the NCAA reported more than $82 million in investment income. In 2015, it reported nearly $21 million in investment losses.

Berkowitz continues to dive deeper into the story and provides tons of interesting information - all worth reading - and you can find it here.

[USA TODAY]