Study Finds NCAA Basketball Tournament Costs Businesses $13.8 Billion in Lost Productivity Each Year

Equities Staff  |

Video source: YouTube, CBS Sports HQ>

In the wake of the University of Kentucky's #2 seeded Wildcats getting upset on Thursday by the #15 seeded Peacocks of St. Peter's University, it's not just Kentucky fans who are feeling lost today.

According to a new study from WalletHub, the annual NCAA tournament that began this week costs American businesses $13.8 billion in lost productivity.

That's nearly 12 times the annual revenue of the NCAA itself.

Here are some more eye-popping numbers from the study:

  • Kentucky coach John Calipari is college basketball's highest paid coach at $8.1 million

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    per year.
    • University of Kentucky president Eli Capilouto and Kentucky Governor Andy Beshear make $1.2 million - combined.
  • An estimated $10 billion will be wagered on this year's tournament.
  • The tournament is expected to generate $200 million in revenue for the city of New Orleans, site of the championship game.
  • The NCAA pays the players participating in the tournament exactly $0.

Congratulations to St. Peter's, who will face Murray State in the second round.

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Sources: WalletHub, Equities News

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