The launch of the SEC Network in '14 has helped increase the conference's revenueGETTY IMAGES
The SEC "increased its revenue and per-school payouts" during FY '18-19, but both of those figures continued to "lag behind" the Big Ten, according to Steve Berkowitz of USA TODAY. The SEC had $720.6M in "total revenue" for FY '19, resulting in an average of nearly $45.3M being "distributed to the 13 member schools that received full shares." Ole Miss "did not get a full share" because its football team was banned from postseason play. A year ago, the SEC reported just under $660M in revenue with per-school distributions averaging $43.7M. In comparison, for FY '18, the Big Ten reported almost $759M in revenue, and the 12 schools "receiving full shares" each got roughly $54M. The new SEC tax document also showed that Commissioner Greg Sankey was credited with nearly $2.6M in total compensation for the '18 calendar year, including just over $2.4M in base compensation. That represents a $500,000 "increase in base salary" over the amount reported for him for '17 and a nearly $600,000 increase overall (USA TODAY, 1/31). In Baton Rouge, Scott Rabalais notes revenue for SEC schools has increased each year since '80, and a "major driving factor for SEC revenue distribution continues to be from the SEC Network." Since the net launched in August '14, "revenue distribution has increased" more than 113% from $20.9M in FY '13-14 to now. Though SEC revenue has "only been rising incrementally the past few years since, the financial rewards figure to zoom up staggeringly in the near future," when the conference's football TV contract with CBS expires after '23 (Baton Rouge ADVOCATE, 1/31).
GATOR FOOD: In Gainesville, Robbie Andreu noted the Univ. of Florida's profit of $17.9M for FY '19 is "almost six million more" than a year ago. The "big difference" between the school's '18 and '19 figures comes from severance payments. UF paid out $12.9M two years ago, the "bulk of that going to buyouts for former football coaches Jim McElwain and Will Muschamp," while the "overall payout" in '19 was only $370,800. UF's football program "led the way" for its 21 teams in '19 with a profit of $47.9M. The program had a "total operational revenue" of $87.5M to go along with expenses of $39.5M. Men's basketball was the "only other program to make a profit," bringing in $2.5M (GAINESVILLE SUN, 1/30).
IN THE DETAILS: In Birmingham, Michael Casagrande notes the Univ. of Alabama's annual athletics financial report shows a $21.2M shortfall for FY '18-19, but the school "explained that was just about the accounting and not cashflow problems." Alabama's financial statements showed a total of $24.5M in contributions for preferred seating programs were deferred to FY '20 "based on the change in the tax law." That left the reported revenue at $164.1M in '19, instead of the $188.6M it would have been "with those contributions added in." Combine that $24.5M deferment with expenses of $185.3M, and the $21.2M "shortfall" is the result. Had the "full contribution level counted" for FY '19, Alabama's $188.6M in revenue "would have been a school record." Football "continues to be the main driver of income" with $95.2M of the $164M coming from the program (BIRMINGHAM NEWS, 1/31).
