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