Just how valuable is the term “Mach Madness?”
The NCAA understood just how valuable it is when they shelled out millions to have sole control of the trademark.
- Quietly last October, the association paid $17.2 million to sports and entertainment marketer Intersport to stop using the term “March Madness,” which has been attached to the NCAA’s Division I men’s basketball tournament since the 1980s.
The settlement, spelled out in financial statements but unbeknown to most in the member schools and conferences, gives it sole ownership of a trademark that has been the subject of several legal disputes and challenges over the years. While large on its face, the eight-figure amount accounts for less than 2½% of the association’s $700 million-plus budget.
As you can see, there is a lot of money involved in collegiate sports. If the NCAA’s budget is in excess of $700M, how much are they raking in?
I could dive into the topic of whether or not college athletes should receive compensation for playing ball, but I’ll save that for another post.
Read the full story HERE at USA Today.
