SEC announces distribution of over $300 million in supplemental revenue following pandemic
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Times were tight all across the board during the COVID-19 pandemic and things were no different in the Southeastern Conference.
To combat the loss of an average of $45 million per school last year, the conference has just announced the distribution of $23 million to each school in supplemental revenue. That results in a total of $322 million being sent out by the SEC.
“The extraordinary circumstances produced by the global pandemic have presented colleges and universities with an unprecedented disruption to their programs and budgets,” said SEC Commissioner Greg Sankey in a released statement. “This supplemental revenue distribution will help ensure each SEC member will continue to provide high levels of support to its student-athletes.”
To secure this money, the league is using future increases in media rights revenue to facilitate this supplemental distribution, per the league.
Once the new television rights with ESPN/ABC begin in 2025, the SEC will take a portion of those earnings to pay back the $322 million just sent to the schools.
“This immediate financial support will help our athletics programs address some of the current challenges they are facing while also ensuring each program remains well-positioned for future success,” Sankey said. “Thanks to years of responsible decision-making and unity, combined with unparalleled success, the SEC and its 14 member universities are uniquely prepared to navigate the COVID-19 pandemic and continue building on a remarkable legacy of achievement.”
A graduate of the University of Tennessee, Michael Wayne Bratton oversees the news coverage for Saturday Down South. Michael previously worked for FOX Sports and NFL.com
