NCAA

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.

Georgetown gets a boost with Jessie Govan returning to school

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Georgetown gets a boost with Jessie Govan returning to school

After testing the NBA Draft waters, Georgetown center Jessie Govan decided to return to the Hoyas for his senior season.

Govan announced his intention to return on Instagram a week before the final commitment deadline.

Returning to the Hoyas is definitely a boost to the program that will be in their second year under head coach Patrick Ewing.  At 6-10, Govan was the team’s leading scorer (17.9 ppg) and rebounder (10.0 rpg) averaging a double-double last season.

Paired alongside power forward Marcus Derrickson, the Hoyas were nearly unstoppable in the paint. Derrickson though decided to forgo his senior year and signed with an agent after the season.

Had Govan decided to leave that would have meant over 56 percent of the team’s scoring and rebounding would have departed (to graduation or professional pursuits) in a handful of months. Not the best outlook for a 15-win team that went 5-13 in the Big East.

Instead Ewing gets back his leading scorer that many believe he can mold as a young protégée. While in the draft process without an agent Govan had workouts with the Boston Celtics and the New York Knicks. Both are valuable experiences that he will bring to a relatively young Georgetown squad.

Having Govan for one more year will bridge Ewing’s second season to transfer big-man, Omer Yurtseven to his first year of eligibility in 2019. They were set up to having a walk-on and two sophomores being the only returning Hoyas over 6-6 for the upcoming season.

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Future NBA prospect Omer Yurtseven transfers to Georgetown from NC State

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USA TODAY Sports

Future NBA prospect Omer Yurtseven transfers to Georgetown from NC State

The pieces are starting to come together for Patrick Ewing.

On Monday the Georgetown Hoyas picked up perhaps the biggest (literally and figuratively) target of the transfer market, Omer Yurtseven.

From North Carolina State, the transfer from Istanbul Turkey will have two years remaining of eligibility. Due to NCAA transfer rules, he is not allowed to play for the 2018-19 season.

MORE NCAA: TOP BUZZER BEATERS IN NCAA TOURNAMENT HISTORY

Standing at 7-0, the center helped power the Wolfpack to an NCAA tournament bid this past season. Averaging 13.5 points, 6.7 rebounds, and 1.8 blocks a contest, Yurstseven earned All-ACC Third Team honors in the 2017-18 season. He also touted a 58.3 shooting percentage and was not afraid to pull it up from deep either (22 made three-pointers).

NC State lost in the first round of the NCAA Tournament to No. 8 Seton Hall, but he was limited due to foul trouble with only two points and two rebounds in 14 minutes of play.

Initially, he is the option to fill the void that Jessie Govan will leave, whether that is during this offseason or next. Already the team has lost power forward Marcus Derrickson

Yurtseven will just be another frontcourt talent for Ewing with the Hoyas.

It was widely reported that he was considering playing options, both in the United States and abroad before this announcement. Easily he has the talent to go in first round of the NBA Draft whichever year he declares.

On the same day, the Hoyas also announced the signing of four-star guard James Akinjo.