The SEC sure raked in a lot of money last year, as the conference was able to rack up $455.8 million in revenue. Of that, $436.8 million will be shared among the 14 members of the conference, with each school getting roughly $31.2 million.
That’s up an estimated $10 million more than each conference school earned last year.
More from Tom Fornelli of CBSSports.com:
“The ability to provide a significant distribution of revenue is more critical than ever for our institutions as they offer more financial and educational benefits to current and former student-athletes,” said SEC commissioner Mike Slive. “Beginning this year, our schools will fund new costs associated with providing scholarships based on full cost of attendance, enhance lifetime educational opportunities to former student-athletes and they are developing new facilities such as athletic nutrition centers to the benefit of student-athletes.”
To put the amount of money in perspective, last year at this time the SEC announced that each of its schools would receive a $20.9 million payout, so in only one year, the payout has increased by over $10 million per school.
With the SEC having another banner year in football, having Kentucky almost go perfect in basketball and seeing the launch of their own network on ESPN, the conference is riding a major high right now.
In other SEC news, the conference announced this week that they will fine member institutions for rushing the field/courts $50,000 for a first offense, $100,000 for a second offense and $250,000 for a third offense. That is stark contrast to the previous numbers where a first offense was just $5,000, $10,000 for a second offense and $25,000 for a third offense.