Count college sports among the sagging economy’s latest victims.
A newly released NCAA report shows that just 14 of the 120 Football Bowl Subdivision schools made money from campus athletics in the 2009 fiscal year, down from 25 the year before.
Researchers blame the sagging economy and suggested that next year’s numbers could be even worse.
The research was done by accounting professor Dan Fulks of Transylvania University, a Division III school in Lexington, Ky. It shows the median amount paid by the 120 FBS schools to support campus athletics grew in one year from about $8 million to more than $10 million.