Report: NCAA sees revenue decline by $600 million with 2020 Tourney cancellation

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USA TODAY reported this week that the 2020 NCAA Tournament's cancellation cut the NCAA's revenue by more than half year-to-year with a $600 million annual decline.

Per USA TODAY, the NCAA reported more than $800 million in lost revenue from the tournament cancellation and recouping $270 million from cancellation insurance.

Despite the major financial hit, the NCAA believes it is still in a good spot.

"Given the NCAA’s strong financial resources, continued efforts to manage spending, and the loss-of-revenue insurance for fiscal year 20-21, management believes the Association is well positioned for current and future obligations," the NCAA told USA TODAY in a statement.

The plan for the 2021 NCAA Tournament is to host all 68 teams in the Indianapolis-area, starting March 18 with the First Four round and through the Final Four at Lucas Oil Stadium from April 3-5.

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