The NCAA recently made moves to lock in rights for its “March Madness” trademark.
Quietly last October, the association paid $17.2 million to sports and entertainment marketer Intersport to stop using the term “March Madness,” which has been attached to the NCAA’s Division I men’s basketball tournament since the 1980s.
The settlement, spelled out in financial statements but unbeknown to most in the member schools and conferences, gives it sole ownership of a trademark that has been the subject of several legal disputes and challenges over the years. While large on its face, the eight-figure amount accounts for less than 2½% of the association’s $700 million-plus budget.
It’s another story about the business of college sports, coming at a time when we’re seeing scandal after scandal, mostly revolving around improper benefits like tattoos for memorabilia.
Meanwhile, the Justice Department is asking why there isn’t a playoff system in college football.
The entire issue of money and college athletics will be front and center for the foreseeable future.
