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January 11, 2016 - Public Universities Spend Millions On Stadiums, Despite Slim Chance For Payoff

As reported by the International Business Times

"Between 2009 and 2013, public universities reported increasing their annual expenditures on football to more than $1.8 billion — a 21 percent jump in inflation-adjusted dollars, according to Knight Commission data reviewed by International Business Times. In that same time period, public universities’ reported debt on their athletic facilities has grown to $7.7 billion — up 44 percent in inflation-adjusted dollars in that time. In all, two-thirds of Division I public universities increased their spending on football or athletic facilities in that time period — when average tuition and student fees at public universities have risen more than 40 percent in the last decade.

"The payoff for all that investment? Nearly three quarters of all Division I football programs now run deficits, which are eventually covered by the rising tuition and student fees."

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