BIRMINGHAM, Ala. — For the fiscal year ending in August, the Southeastern Conference (SEC) revealed that it distributed an average of nearly $52.6 million to each of its 14 full-year member institutions for the 2023-24 season. This marks a minor increase compared to the previous year, according to the conference’s tax filing.
On Thursday, the SEC shared its revenue details and published its tax findings, highlighting the joining of Oklahoma and Texas in July which expanded the league to 16 schools. Each of these new schools received $27.5 million categorized as “transition payments,” which include a blend of television contracts and refundable application fees from the former fiscal year.
While the SEC’s total revenue experienced a slight decline from approximately $852.6 million in the 2022-23 season to about $839.7 million for 2023-24, the payout to full-year members increased. The distribution rose from around $718 million in 2022-23 to approximately $790.7 million in 2023-24, considering the partial amounts allocated to Oklahoma and Texas.
The impact of adding the former Big 12 teams will likely be more pronounced in future years. As a consequence, the average payout for full members climbed from about $51.3 million in the previous year. This increase represents the third instance in four seasons that the average distribution exceeded $50 million, peaking at $54.6 million during the 2020-21 period.
The SEC also benefitted from enhanced television and radio rights agreements, seeing an increase from roughly $544.4 million in 2022-23 to nearly $563 million for the current season. This deal is primarily with ESPN and includes the establishment of the SEC Network.
Upon examining the latest tax filings from other major conferences, the SEC’s average payout for 2023-24 ranks second only to the Big Ten, which reported total revenue of $845.6 million alongside an average payout of $58 million in 2021-22, and $879.9 million with an average distribution of $60.3 million for 2022-23.
Additionally, the tax filings indicate that SEC Commissioner Greg Sankey’s total compensation exceeded $4.2 million, in addition to over $68,000 from the SEC and associated organizations. This amount represents a rise from about $3.6 million and more than $63,000 from the previous fiscal year.
