A few updates on the B1G media rights contract........
2023-2024 Revenues.............first year of current contract, but less that year because it only included 14 schools and CBS only showed a limited number of B1G games due to its final year of having the SEC game of the week.........
The Big Ten reported "just over $928 million in total revenue" on its federal tax records for 2024, per Steve Berkowitz of USA Today. That mark is $88 million ahead of the SEC, which reported $840 million in total revenue for 2024 in February.
Expected revenue from the 2024-2025 school year............current school year.........includes the PAC additions........
"However, the new records, along with documents and data released by three Big Ten member schools in recent years strongly indicate that the conference’s revenue for its ongoing 2025 fiscal year will increase to somewhere between $1.2 billion and $1.4 billion, with the new TV deals taking full effect and the additions of UCLA, Southern California, Oregon and Washington increasing its membership to 18 schools. The Big Ten’s document was provided by the conference on May 6 in response to a request from USA TODAY Sports."
According to the article, Rutgers and Maryland are finished paying off their loans as of the current school year. I thought they had a few years left on that???
Per USA Today, the Big Ten also distributed $63.2 million to its 12 "longest-standing schools" during the 2024 fiscal year. That notably excluded the four aforementioned Pac-12 schools plus Rutgers and Maryland, which joined the Big Ten in 2014.
Per Berkowitz, it appears that the Big Ten will pay 16 of 18 member schools around $75 million for the 2025 fiscal year. The two exceptions will be Oregon and Washington, as their share will be "phased in over seven years."
The current media contract is backloaded and revenues will increase each year until the end of the contract.............
At the time of the article, the expectation was for the Big Ten to "eventually distribute $80 million to $100 million per year to each of its 16 members." (Washington and Oregon are partial payouts throughout the duration of this contract)
This article lists the 2024-2025 school year revenue as slightly off the $75 million listed in the above article, depending on which school made the projection, with a notable increase expected at the conclusion of the 2025-2026 school year........
The Big Ten Conference had just over $928 million in total revenue during its 2024 fiscal year, the conference’s federal tax records show.
www.usatoday.com
Iowa state board of regents budget documents from this past July show that the University of Iowa was projecting $75.2 million in “Athletic Conference” revenue for fiscal 2025.
A University of Wisconsin athletics department budget presentation to a university athletic board committee meeting three weeks ago projected “Conference” revenue of $74.7 million for fiscal 2025 and just under $82.6 million for fiscal 2026, according to the Wisconsin State Journal.
Oregon and Washington will earn more money than was initially reported when they joined the conference due to additional earned revenues for the conference over the course of the 2024-2025 school year.............
according to an Oregon athletics budget document for fiscal 2025, Oregon projects $54 million in “NCAA/Big Ten” revenue. (Another Oregon document from September 2023 said the Big Ten’s “media deal with Fox, NBC and CBS will pay both UO and University of Washington each an average of $32.5 million a year for the first six years and that amount should more than double when the two schools receive a full share of Big Ten media rights revenues beginning in the 7th year.” But that TV revenue will be supplemented by money from other Big Ten sources such as the College Football Playoff and Big Ten championships.)
A conservative projection is that 2024-2025 revenue will come out at $1.3 billion...........
Even using slightly lower amounts as benchmarks — $70 million to each of 16 schools and $50 million apiece to Oregon and Washington, that projects to a little more than $1.2 billion in total Big Ten distributions for fiscal 2025. And, in recent years, the conference has passed on to its schools about 95% of total revenue.
That would put its total revenue for fiscal 2025 at just under $1.3 billion.
This article gives an insight on what Maryland and Rutgers made for 2023-2024:
Jim Phillips got a nearly 50% raise last year
www.tomahawknation.com
- Big Ten: $63.2 million to its longest-standing 12 members, $61.5 to Maryland and Rutgers — $928.1 million total revenue
If the first article above is correct, Maryland and Rutgers have paid back all of their loans. I still need to verify this as I haven't read that anywhere else and thought they still had time remaining to pay them back. However, even if they did still owe, the fact that they are almost making as much as the other schools indicates they have nearly paid back everything.