Southeastern Conference and Big 12 schools will receive record amounts of conference-distributed revenue for the 2014-15 school year.
The SEC will distribute $31.2 million to each school, an increase of more than $10 million per school over last season. That figure doesn’t include revenue retrained by schools that participated in bowl games last year.
The biggest factor for the increase is the SEC Network, which debuted last year and was beamed into nearly 70 million homes.
The total revenue distributed to the 14 SEC members: $455.8 million.
The Big 12 will distribute $23 million to $27 million per school. Teams that played in bowl games will receive more income. The total amount distributed to the 10 schools: $252 million.
The Big 12’s totals do not include each school’s third-tier media rights. Texas received about $15 million annually from The Longhorn Network. Kansas received more than $6 million annually from the Jayhawk Network, and Kansas State nearly $4 million from K-StateHD.TV, in the 2014 fiscal year.
“Ours is a slightly different model but it compares favorably to other conferences,” Big 12 commissioner Bob Bowlsby said.
The revenue is generated by regular-season football contracts, bowl games, NCAA and conference basketball tournaments, and in the case of the SEC, the football championship game.
Both conferences said the revenue is expected to increase over the years, but so are expenses. Starting next year, schools will be funding full cost of attendance to its athletes, ranging from about $2,500 to $5,000 annually over the value of an athletic scholarship.
“The ability to provide a significant distribution of revenue is more critical than ever for our institutions,” outgoing SEC commissioner Mike Slive said.
Slive said Friday that he is handing over the SEC’s reins to Greg Sankey on Monday. Slive’s retirement was initially expected to take place after his contract expired on July 31.