SEC commissioner Greg Sankey Thursday announced the financial payout to each member institution for the last fiscal year ending August 31st, and on average, each school received $44.6 million dollars, an increase from $43.1 million dollars the previous year.
This does not include over $26 million dollars retained by those schools which played in bowl games to offset expenses. The total amount distributed was $624.2 million dollars.
Here’s more from the SEC release:
“The revenue distributed through the Southeastern Conference enables our 14 member universities to provide unparalleled support to their student-athletes through superior instruction, training, equipment, academic counseling, medical care, mental health and wellness support and life-skills development,” said Sankey. “It is this sustained conference-wide commitment to the student-athlete experience that makes this conference sound and its impact so meaningful.”
Currently more than 5,400 female and male student-athletes across the SEC receive financial aid, and counting non-scholarship participants, more than 7,800 total student-athletes participate in sports sponsored by SEC institutions.
The 2018-19 academic year was the fourth in which SEC athletics programs funded the costs associated with providing scholarships based on a student-athlete’s full cost of attendance. 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.
“In addition to supporting the overall student-athlete experience, revenues generated through SEC athletics can contribute in significant ways to the academic missions of the Conference’s 14 universities,” Sankey said. “These distributions provide each university the opportunity to make a positive impact on their respective campuses in ways unique to each institution. Past uses of this revenue on our campuses have included participation in the construction and renovation of academic facilities, support of academic scholarship opportunities, funding of academic programs and direct transfers of funds to support academic budgets.”
The total distribution amount is comprised of revenue generated from television agreements, post-season bowl games, the College Football Playoff, the SEC Football Championship, the SEC Men’s Basketball Tournament, NCAA Championships and a supplemental surplus distribution.
The distribution amount does not include approximately $7.8 million of NCAA and SEC grants divided among the 14 member institutions.
The total revenue for 2018-19 is an increase above the $627.1 million distributed in 2017-18. The average per school distribution increased from $43.1 million in 2017-18, not including bowl money retained by participants.