and duke 1 million lower, $13 million. if you can imagine, it reached this amount $770 million a year in this deal in 2010 with broadcast networks for march madness, the 14-year deal with worth $10.8 billion. but here s the thing you have to consider what you were talking about, the student athletes don t see any of that money. the average men s player is denied $1 million over four years. you can include his scholarship money there and of course they get some money per diem. again, all according to the study from the 2013 study from the national college players association. so many student athletes when we talk about that and there s the big debate whether or not they should be paid and making money for services they fulfill to get everybody intrigued by the different sports programs. some say it s just the spirit
relatively low interest rates and people are taking advantage of this, and auto buyers borrowed the record amount, and the average payment climbed to the all-time high of $474. also, the other interesting thing about this, chris, the buyers are continuing to spread the payments out over a longer period of time. and nearly a quarter of the auto loans have payment terms of between six and seven years aed on the put it in perspective, the average length of auto loans increased to 5.5 years which is a new all-time high. back to you. and cnbc s mandy drury, and nice to see you. as you. and now the u.s. has become the biggest wine consumers in the world. buying online, americans drank 770 million gallons of wine last year, and france dropped to two with 740 million gal lons and italy and then germany and china rounding out the top five.
players are being left behind. players put their minds and their bodies at risk, not the ncaa. in 2012, the ncaa put a record amount of revenue at $841 million. it distributed $522 million to division i schools that played in the march madness men s basketball tournament. in 2010 the ncaa reached a 14-year $10.8 billion deal with cbs network and turner broadcasting to cover the basketball tournament known traditionally as march madness. that s $770 million a year. the facts are simple. student-athletes are doing all the work and putting their bodies at risk as the ncaa rakes in all the cash. it s wrong and the chicago labor board s decision is the first step i think in the right direction. joining me tonight are the key players in our rapid response panel. kain colter. he is a former northwestern
this week president obama, as he does every march, took time to make his predictions for the ncaa tournament which started on tuesday. have i michigan state going all the way. it s been a while since he won one and he knows how to motivate folks. my pick, michigan state, bring it home for me. it s been a while since i won my pool. and as of this morning, michigan state is still in. so, he s got a shot. the fan in chief picked uconn to win the women s tournament. the winner of march madness has already been decided. it s the ncaa. in 2010 the ncaa received $10.8 billion from cbs and turner sports for 14 years of broadcast rights to the men s tournament. that s about 770 million for this tournament alone. what about the players, what do they get? according to sports labor attorney jeffrey kessler and a group of former college
benefiting. letters, hundreds of millions of dollars and a major influence on a massively popular sports industry. the business of the ncaa is thriving. is it sustainable? the nonprofit organization says it puts its money where its mission is, equipping student athletes to succeed on the playing field, in the classroom and throughout life. they rake in around $800 million each year. its endowment is more than half a billion. where does the money come from? the institution itself based in indianapolis makes money primarily through television rights to the march madness basketball tournament. they get somewhere in the neighborhood of $770 million a year. that constitutes around 70% of the revenue that goes to the ncaa. reporter: cbs and turner sports, part of the time warner family along with cnn, own those broadcast rights. ticket sales also make money for the ncaa and corporate sponsors