The National Collegiate Athletic Association said the pandemic coverage included in the income loss insurance it had in place for 2020 and 2021 is "no longer available" and that it is exploring alternatives.
The NCAA received $ 81 million from insurance companies for loss of revenue during the fiscal year ended August 31, 2021, related to reduced ticket sales and additional costs for precautionary measures against covid-19, according to its most recent financial statements published on its website.
This followed an insurance payment of $ 270 million in 2020 to the cancellation of the NCAA Men's Basketball Tournament as a result of COVID-19.
19, "the Indianapolis-based organization said in the statement.
" Management explores alternatives va solutions for pandemic risk management and will continue to monitor impa.
The NCAA reported $ 1.16 billion in revenue for the fiscal year ended August 31, 2021, up from $ 519.2 million the previous fiscal year.