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Sugar is Sweet

By Rick Karcher, Michael McCann, Geoffrey Rapp, Greg Skidmore, and Howard Wasserman

A few facts to follow up on the post by Michael on the suspension of five Ohio State Football players. Thankfully, the Coach did allow the players to participate in the Sugar Bowl on the condition that the juniors agreed to return to the school for their senior year rather than throw their hats in the NFL lottery ring. How charitable.

That Coach Jim Tressel recently had his contract extended for two years so he can continue to earn $3.5 million annually from The Ohio State University, a tax-exempt state university and recipient of millions of dollars in state and federal funds.

Speaking of tax exempt status, I am glad to report that the Sugar Bowl Foundation is a 501(c)(3) organization, making your contributions tax deductible. The CEO of the foundation, Paul Hoolahan, receives annual compensation of $645,386 for his fine work.

For playing in this great game, Ohio State receives about 17 million dollars.

Now you know why the NCAA was so upset about these kids besmirching such charitable endeavors by accepting those free tattoos.

Full post as published by Sports Law Blog on January 02, 2011 (boomark / email).