BIRMINGHAM, Ala. - Commissioner Greg Sankey announced Thursday that approximately $596.9 million of total revenue was divided among the 14 institutions of the Southeastern Conference for the 2016-17 fiscal year, which ended August 31, 2017.
The total includes $573.8 million distributed from the conference office, as well as $23.1 million retained by institutions that participated in 2016-17 football bowl games to offset travel and other related bowl expenses.
The average amount distributed from the conference office, excluding bowl money retained by participants, was slightly over $40.9 million per school.
"This distribution from the SEC is instrumental to our universities' athletics programs ability to provide the highest possible level of support for the thousands of student-athletes who participate annually in nearly two dozen conference sports," Sankey said. "This commitment to excellence encompasses superior support in coaching, equipment, training, academic counseling, medical care and life-skills development for our student-athletes."
Currently more than 5,400 female and male student-athletes across the SEC receive financial aid and, counting non-scholarship participants, more than 7,800 total student-athletes participate in sports sponsored by SEC institutions.
The 2016-17 academic year was the second in which SEC schools funded costs associated with providing scholarships based on a student-athlete's full cost of attendance while expanding the availability of lifetime educational opportunities to former student-athletes as allowed by the NCAA as a result of action by the Autonomy Five Conferences.
In addition, each SEC university utilizes a portion of the revenues to fund a wide range of academic and campus improvement initiatives, including academic scholarships, endowed faculty positions, student wellness programs, research programs, and forward-looking building projects.
"The revenues generated from SEC sports are instrumental to advancing the academic missions of our 14 member institutions," Sankey added. "Whether in the direct transfer of funds, in assistance with the construction and renovation of academic facilities or in support of academic scholarship opportunities or academic programs, these distributions are designed to provide each university with the flexibility to invest in unique and significant ways that provide positive outcomes across their respective campuses."
The total distribution amount is comprised of revenue generated from television agreements, post-season bowl games, the College Football Playoff, the SEC Football Championship, the SEC Men's Basketball Tournament, NCAA Championships and a supplemental surplus distribution.
The distribution amount does not include approximately $7.8 million of NCAA grants divided among the 14 member institutions.
The total revenue for 2016-17 is an increase above the $584.2 million distributed in 2015-16 and the per school distribution represents an increase over the average school distribution of $40.4 million in 2015-16, not including bowl money retained by participants.