The 14 Southeastern Conference schools will receive a record payout of $31.2 million this year, authorities say.
With an amazing take of $455.8 million last season, the 14 conference universities are topping last year’s $20.9 million payout, increasing the take over $10 per school for 2015.
“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,” SEC commissioner Mike Slive said in a statement. “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.”
The revenue increased incredibly over the 2013-14 season that totaled $338.9 million according to IRS filings.
The revenue is generated from televised regular season football and bowl games, as well as championships, basketball and basketball tournaments, and NCAA championships.
But along with the higher revenue, the SEC also hiked fines for rushing the field from a mere $5,000 to a whopping $50,000 for a first offense, $100,000 for a second violation, and $250,000 for the third offense. The previous third offense fine was only $25,000.
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