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That is not the whole story. The NCAA Tournament pays for all other sports championships and many other things that benefit all of the schools. The CFP pays for nothing so more money is distributed to the schools. Now that football is a huge moneymaker through the CFP, having the NCAAT subsidize everything the NCAA does seems outdated, but I highly doubt it is going to change.The NCAA Tournament's Big Payday - Front Office Sports
https://www.axios.com/2023/03/29/ncaa-basketball-tournament-conference-payouts
According to the above axios link, in 2023 the NCAA paid out 230 million out of $900 million. The front office link says conferences are expecting about $260 million this year. It's absolute insanity the NCAA keeps that much.
Many people think the NCAAT media rights are undervalued by the NCAA as they like having the LT media contract which is the same mistake the ACC has made. And one thing that is clear is that the NCAA women's tournament media rights are undervalued and I really can't figure out how the NCAA let that happen.
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