SEC releases revenue total for 2021-22, future distributions reported
The SEC has released their revenue total for 2021-22, as well as projections for future distributions. In a press release, the conference detailed some important numbers that are sure to make eyeballs turn to dollar signs.
“Southeastern Conference Commissioner Greg Sankey on Thursday announced that $721.8 million of total revenue was divided among the SEC’s 14 universities for the 2021-22 fiscal year, which ended August 31, 2022,” wrote the conference. “The total includes $698.5 million distributed directly from the conference office, as well as $23.3 million retained by universities that participated in 2021-22 football bowl games to offset travel and other related bowl expenses.
“The amount distributed from the conference office, excluding bowl expenses retained by participants, averaged $49.9 million per school.”
If you think that’s a lot, Ross Dellenger of Sports Illustrated believes that number will balloon to $60-70 million following the start of the conferences new television deal with ESPN in 2024. In addition to the release of the numbers, SEC Commissioner Greg Sankey added a statement, where he elaborated on what the SEC’s annual revenue distribution helps fund.
“The SEC’s annual revenue distribution significantly enhances the ability of our universities’ athletics programs to provide the highest level of support for the thousands of student-athletes who participate in sports each year on our campuses,” Sankey said, per the SEC. “This commitment to an impactful and life-changing experience encompasses superior support in coaching, training, academic counseling, medical care, mental health, nutrition, life-skills development and extended health coverage for our student-athletes.”
Per the SEC, over 5,400 female and male student-athletes across the SEC receive financial aid. If you count non-scholarship participants as well, more than 7,100 total student-athletes participate in sports sponsored by SEC universities, the conference added.
“Athletics departments at all 14 SEC member universities continue to fund scholarships based on a student-athlete’s full cost of attendance and now provide financial awards for academic achievement,” explained the conference. “In addition, each SEC university utilizes a portion of the revenues to fund a wide range of academic and campus improvement initiatives, including academic scholarships, endowed faculty positions, student wellness programs, research programs, and forward-looking building projects.”
Continuing, Sankey added some more context as to the way athletic programs contribute to the academic mission of SEC schools.
“SEC athletics programs often contribute in unique and significant ways to the academic missions of their universities as a result of athletics-generated revenues,” Sankey said, per the release. “Past examples of the impact of this revenue have included assistance in construction and renovation of academic facilities, financial support of academic scholarships, funding of academic programs and direct transfers of funds to support academic budgets.”
Alas, total distribution amount is comprised of revenue generated from television agreements, post-season bowl games, the College Football Playoff, the SEC Football Championship Game, the SEC Men’s Basketball Tournament, NCAA Championships and a supplemental surplus distribution, per the conference.
It just means more. It just pays more. That’s the SEC for you.