DALLAS – The NCAA spent about $25 million on outside legal fees during its 2015 fiscal year, the association’s chief financial officer said Saturday during a presentation to college athletic business administrators.
The amount is nearly double the $13.8 million that the NCAA reported for this expense on its most recently available federal tax return – the one covering a fiscal year ending Aug. 31, 2014 – and it is almost four times the amount that the association had budgeted for the item, CFO Kathleen McNeely told USA TODAY Sports during an interview after the presentation.
Under IRS rules, the association has until July 15 to file its return for its 2015 year, but CFO Kathleen McNeely revealed the new spending figure while covering a variety of NCAA central office budget matters here at the College Athletic Business Management Association’s annual meeting.