ACC Disbursed Nearly $140M To Member Schools In '06-07
The ACC for the tax year ending June 30, 2007, "disbursed $137.5[M] to its 12 member schools," an increase of 5.7% over the previous year's allocations, according to federal tax returns cited by Rob Daniels of the Greensboro NEWS & RECORD. The 5.7% increase, the "largest since an 11.7[%] jump" from '01-02 to '02-03, is "not enough to cover increases in the members' overall costs of running major sports programs, but it seldom serves that purpose and is not expected to do so." The ACC's total revenue of $159,753,654 for '06-07 "beat the projections by 33.5[%], and cash allocated to the membership was 27[%] greater than the estimates." While basketball was the conference's "chief breadwinner as recently" as '03-04, league expansion has "tipped the scales" by creating a new revenue stream with the conference's football championship. Money directly attributable to football accounted for 58% of income for the past FY. General conference revenue is distributed "almost equally to the 12 members," but Boston College (BC) last year did not receive as much because it "wasn't yet fully vested under the terms of its entry agreement." BC this FY for the first time will "get a full share" (Greensboro NEWS & RECORD, 5/21).
|
