SEC earnings show there’s enough money to pay players

Sports

Alabama is just one of the teams that helped make the SEC $800 million last year.

Alabama is just one of the teams that helped make the SEC $800 million last year.
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The amount of money being made with college athletes in this country is insane.

According to an recent report, the SEC raised $777.8 million during fiscal year 2020-2021, which is $120.1 million more than the 2019-2020 conference. SEC schools each receive a payout of approximately $54.6 million.

The haters will say that scholarships and the money some athletes make from NIL deals are enough. But when you see numbers like that, you quickly realize how ridiculous that argument is.

The SEC payday news was reported the same week that: Sports Business JournalI predicted that the Big Ten could be on the cusp of signing a $1 billion annual deal for its next media rights contract. The Big Ten currently makes $440 a year from FOX and ESPN, but those contracts expire in 2022-2023, and CBS and NBC are rumored to be willing to double the conference payday. Last season’s Michigan/Ohio State game was the most-watched college football game in FOX history.

For perspective, here were the income for the Power Five in fiscal 2019

• Big 12: $439 million — payouts ranged between $38 million and $42 million.

• ACC: $455.4 million — payouts ranged from $27.6 million to $34 million.

• SEC: $721 million — payouts were nearly $45.3 million.

• Big Ten: $781.5 million — payouts of $55.6 were made to the 12 longest-serving members of the 14-team conference.

• PAC-12: $530.4 million — payouts were $32.2 million.

In all, the Power Five raised more than $2.9 billion in combined revenues for their fiscal year 2019.

If those numbers weren’t staggering enough, we’re less than a month away from Selection Sunday and the start of the NCAA Men’s Tournament, the NCAA’s cash cow as it accounts for more than 90 percent of annual nonprofit revenue. .

Due to the cancellation of the 2020 tournament, the NCAA and its member schools lost $800 million — which is why the 2021 tournament was certain, despite a pandemic, as the NCAA wouldn’t miss that kind of payday two years in a row. In 2021 the NCAA made over $1.15 billion in revenueon top of the $1.12 billion it earned in 2019. Of that more than billion in revenue in 2021, $613 million went to its members, which was a huge increase from the $246 million spent in 2020.

Again, the vast majority of this money is made by teenagers who play soccer on Saturdays and young men who participate in an annual basketball tournament in March.

Only in America could an unpaid labor force pull in that kind of money every year and see nothing of it. In fact, the NCAA had to almost be forced to agree to NIL, a system that allows the NCAA and their members to keep the money, since outside entities are the ones who pay the athletes.

This is why college athletes need a union.

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