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SEC announces revenue sharing for 2022-2023

Untitled designby: Nick de la Torre02/08/24delatorre
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The SEC logo in orange and blue colors is painted on the field before the game between the Florida Gators and Arkansas Razorbacks at Steve Spurrier Field at Ben Hill Griffin Stadium in Gainesville, FL on Saturday, November 4, 2023. [Matt Pendleton/Gainesville Sun]

The Southeastern Conference announced revenue sharing for the 2022-2023 fiscal year. In total, the SEC will distribute $741 million between its 14 schools, which is up from $721 million in revenue for the 2021-2022 fiscal year.

“SEC member universities are proud to support thousands of student-athletes who participate in broad-based athletics programs across the league,” Sankey said. “SEC universities are committed to providing a high-level experience for all of our participants through an impactful and life-changing college experience that includes world-class support in coaching, training, academic counseling, medical care, mental health support, nutrition, life-skills development and post-eligibility healthcare coverage for student-athletes.”

Of the total, $718 million comes from the SEC league office while an additional $23 million comes from bowl games. The league will distribute — after excluding bowl expenses — $51.3 million to each of its 14 institutions.

The amount distributed from the conference office, excluding bowl expenses retained by participants, averaged $51.3 million per school.

Currently more than 5,400 female and male student-athletes across the SEC receive athletically related financial aid, with more than 7,300 total scholarship and non-scholarship student-athletes participating in sports sponsored by SEC universities. Athletics departments at SEC member universities continue to fund scholarships based on a student-athlete’s full cost of attendance, while also providing financial awards for academic achievement.

The 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, and NCAA Championships.

The distribution amount does not include an additional $8.1 million of NCAA and SEC grants divided among the fourteen member universities.

The total revenue for 2022-23 is an increase above the $721.8 million distributed in 2021-22. The average per school distribution increased from $49.9 million in 2021-22, not including bowl money retained by participants.

USA Today reported that the league generated nearly $853 million in revenue. The report from Steve Berkowitz goes on to detail that the league has loans and interest on those loans that came out of that total prior to money being distributed to teams.

“However, the interest-rate environment hurt the SEC in another way. Its interest expense nearly tripled to $21 million, as the conference continued to have $350 million in outstanding loans it took in 2021 to provide each of its schools with a $23.3 million advance on future conference distributions, to ease the budgetary impact of the COVID-19 pandemic,” Berkowitz reported.

Added to figures from prior tax records, this means that, through Aug. 31, 2023, the conference had paid about $32 million in interest on the loans.”

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