Each school will receive roughly $ 34.5 million for the 2020-2021 fiscal year, compared to the $ 37.7 million announced around the same time last year when COVID-19 numbers were still on the rise and the NCAA had canceled demonstration events, including the NCAA men’s and women’s basketball tournaments. .
Commissioner Bob Bowlsby said Tuesday, at the end of two days of the league’s board meetings held virtually, overall revenues were about $ 50 million lower than expected before COVID-19 . But given how uncertain things were when the current school year began last fall, before widespread immunizations and falling infection rates, things could have been much worse.
“If we could have signed up for $ 35 million, we would have done it in the blink of an eye,” Bowlsby said.
While acknowledging that there are still variables and unknowns, Bowlsby predicts that the Big 12’s income distribution will exceed $ 40 million per school next year.
The shortfall of around $ 50 million this school year was mainly due to reduced TV contracts, lower ticket sales and a lack of a team in the college football playoffs. There were restrictions on the number of fans, if any, who could attend the games. There were also fewer games to be televised during the football season.
Each Big 12 football team had a 10-game regular-season schedule, with only one non-conference game around its round robin schedule. Four league teams have only played eight of the nine scheduled conference games.
The Big 12 did not provide an additional distribution of income like the Southeastern Conference did last week by giving each of its 14 member schools $ 23 million to help offset the financial impact of COVID -19 on their sports programs.
Bowlsby said the Big 12’s board of trustees, made up of school presidents and chancellors, decided last summer to help institution by institution as needed, rather than supplementing them.
“They didn’t want to have to mortgage our future to take out a loan or borrow against TV money or any of those things,” Bowlsby said.
The SEC said it plans to use future conference revenue from increased media rights to pay the one-time supplement to payments for fiscal year 2020-2021. The SEC will begin allocating a portion of these media rights fees from 2025 to pay for additional distribution.
The top 12 incomes had grown for 13 consecutive years before falling to about $ 37.7 million for each school for the 2019-20 school year, about $ 1.1 million less than the previous year.