Coronavirus forcuses NCAA to reduce distribution to Division I members

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NEW YORK CITY, New York (AP) -- The NCAA will distribute $225 million to its Division I members in June'.

That total is $375 million less than had been budgeted this year because the coronavirus outbreak forced the cancellation of the men's basketball tournament.

The NCAA says $50 million of the payout will come from its reserve fund. A $270 million event cancellation insurance policy will be used to pay off a line credit that will cover the remaining distribution.