Sunday, March 28, 2010
But Phil, you'll say, colleges are non-profit while the professional team owners do what they do for profit. Fair enough, but I'd counter that being a non-profit in terms of tax status only restricts what you do with excess income. It does not restrict your underlying motive. Moreover, colleges try to generate as much revenue as possible. Further, since most of their costs are fixed costs, as in the pros, maximizing revenue is the same as maximizing profits (or minimizing losses).
So when I see, for example, coaching salaries in the academy that look similar to those in the pros, I usually don't raise an eyebrow.
But this raised both of my eyebrows.
Lew Perkins, the University of Kansas athletic director, was the state’s highest-paid employee in 2007 at $646,281.
But that’s a paltry sum compared with what Perkins received in 2009 — $4.4 million.
Perkins’ pay is the equivalent of $85,000 a week — about 10 KU students’ average yearly tuition payments. What’s more, $4.4 million appears to place Perkins far beyond that of any athletic director in the nation.
Labels: NCAA; college sports