Texas Tech University Athletics
Texas Tech Gets Relief on NCAA Reimbursement
Texas Tech Gets Relief on NCAA Reimbursement
June 30, 2000 LUBBOCK, Texas - Texas Tech learned today that it will have to repay $282,800 from it's share of the 1996 NCAA Basketball Tournament revenue distributions. The sum is considerably less than the original $1.3 million recommended by the NCAA Committee on Infractions in the 1998 infractions case. The Division I Championships/Competition Cabinet this week agreed with the Committee on Infractions to a revised recommendation that required Texas Tech to return 90-percent of past and future distributions it received for participation in the 1996 Basketball Championship. The amount Texas Tech is required to return is now limited to 90-percent of the sum the institution has received or will receive from the Big 12 Conference, rather than the 90-percent of the total distribution originally recommended. "While we are certainly not proud of the circumstances which led to the original findings by the Committee on Infractions, we are pleased the committee agreed to revise the reimbursement to 90-percent of what we have actually received from the Big 12 Conference," Athletic Director Gerald Myers said. Revenue from NCAA Basketball Tournaments is distributed over a six-year period based on "units", or rounds advanced in the championship tournament. Texas Tech advanced to the regional round of 16 in 1996, earning three units. Unit values for Texas Tech have totaled $962,274 in revenue for the Big 12 Conference to date, with Tech's share being $265,498. Revenue earnings from the 1996 tournament will continue through 2002, with Texas Tech receiving an estimated additional $48,724. "We have been working steadfastly with the NCAA since the 1998 infractions report to resolve this financial matter," Myers said. "Now we can put this totally to rest and continue to move forward with the business of competing for championships." |
