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Volume 23 No. 28
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Power Five: An $8.3 billion revenue powerhouse

Sports Business Journal contacted the Power Five conferences and their 65 member schools to obtain detailed financial data from their most recent fiscal years. The conference-level information presented was derived from Form 990s filed with the Securities and Exchange Commission and is based on the 2018-19 academic year. The school-specific information comes from the NCAA Revenue and Expense Report that members are required to file each January. Thirteen of the 65 Power Five schools are not legally obligated to release this financial information.

The 65 schools combined to generate approximately $8.3 billion in athletic revenue last year, which includes $6.7 billion from reporting schools and an estimated $1.6 billion from the remaining Power Five members. Although football is the main driver for most of the schools, the breakdown varies wildly. Georgia, Nebraska, Texas and Texas A&M, for example, derive approximately 70% of their overall money from football. The sport accounts for just one-third of revenue for Georgia Tech, Maryland and Kentucky.

Big Ten

Total revenue: $781.5 million
Sponsorship and media*: $3.1 million
Championship events: $1.8 million
Sports revenue: $694.6 million
Operating revenue: $32.5 million

From the schools:
Conference members generated approximately $300 million in football ticket sales.
Ohio State (No. 3 in the country in overall revenue), Michigan (No. 4) and Penn State (No. 6) combined to generate $573 million, the richest same-conference trio in sports.
Maryland reported $5.9 million in football ticket sales, the lowest Power Five total in the NCAA’s report.

* League lists “Investment in Big Ten Network” at $45.3 million. Fox owns 51% of the network.

SEC

Total revenue: $720.6 million
TV/radio contracts: $477.4 million
Postseason events: $209.3  million

From the schools:
Members make up nine of the top 17 in terms of revenue.
Texas A&M’s $212.7 million in revenue was second only to Texas’ (Big 12) $223.9 million.
Football made up a conference-high 71% of Georgia’s revenue and a conference-low 28% of Kentucky’s.

Pac-12

Total revenue: $530.4 million
TV rights fees: $351.3 million
Bowl games: $114.4 million
Advertising: $14.9 million
NCAA revenue/conference events: $38.1 million

From the schools:
Washington topped the conference with $133.8 million in overall revenue, nearly twice as much as rival Washington State’s $71.1 million.
Washington State’s conference-low $9.0 million in football ticket sales made up a conference-high 95% of their overall ticket revenue.
Football accounts for 82% of Oregon’s $24.3 million in overall ticket sales, compared to 58% for Oregon State.

ACC

Total revenue: $455.4 million
TV contracts*: $288.6 million
Bowl games: $88.4 million
NCAA revenue: $59.8 million
Conference championships: $15.0 million
Other: $696,071

From the schools:
Florida State led the conference in overall revenue ($152.8 million) and media rights and licensing ($52.8 million).
Georgia Tech’s football revenue was a conference-low $29.3 million.
Notre Dame received nearly $7 million from the conference, while the other 14 members received nearly $29 million.

* The conference reported a $50.8 million “Television agreement signing bonus” liability.

Big 12

Total revenue: $439.0 million
TV contracts: $255.5 million
Bowl games: $125.5 million
NCAA revenue: $39.7 million
Ticket sales: $13.7 million
Other: $1.7 million
Royalties: $485,483

From the schools:
Texas’ $233.9 million overall revenue was No. 1 in the report, with 70% of that coming via football.
Members combined for approximately $250 million in football ticket sales.
The revenue gap between the conference and the remaining Power Five will widen now that the ACC Network has launched.

Note: Reporting categories are not consistent because they were designated by each conference.