The SEC introduced $808.4 million in income distribution to its 16 member universities for the 2023-24 fiscal 12 months, which ended Aug. 31, 2024. Included in that determine are Oklahoma and Texas, which formally joined the convention in July 2024. The league distributed a mean of $52.5 million to the 14 legacy members. Each newcomers obtained $27.5 million in transition funds tied to tv agreements and refundable software charges remitted to the SEC.
“As your complete school athletics enterprise works by way of important change, SEC universities are uniquely positioned to supply new monetary advantages for student-athletes whereas persevering with to ship transformative, life-changing school experiences,” SEC commissioner Greg Sankey mentioned in a press release. “Past offering an distinctive, debt-free schooling, this expertise consists of world-class help in teaching, coaching, educational counseling, medical care, psychological well being help, vitamin, life-skills improvement and post-eligibility healthcare protection for SEC student-athletes.”
The $808.4 million determine is a greater than $67 million enhance from the $741 million generated from 2022-23. It is also an nearly three-fold enhance from the 2021-22 and 2022-23 fiscal years.
The 2023-24 complete consists of $790.7 million distributed on to member colleges by the convention workplace, whereas an extra $17.7 million was saved for applications that participated in 2023-24 bowl video games. That comes out to $52.5 million per faculty distributed by the convention workplace to every of the SEC’s 14 full members — excluding Oklahoma and Texas — from 2023-24.
The 14 universities that have been full-year members additionally obtained a complete of $8.1 million in NCAA and SEC grants.
Convention income comes from a wide range of sources, together with tv agreements, postseason bowl video games and the Faculty Soccer Playoff. 9 SEC colleges certified for a bowl sport following the 2023 season, together with Alabama, which represented the SEC within the Faculty Soccer Playoff.