February 2, 2022

NCAA earns $1.15B in 2021 as revenue returns to normal

FILE - Signage at the headquarters of the NCAA is viewed in Indianapolis, March 12, 2020. NCAA member schools voted to ratify a new, pared-down constitution Thursday, Jan. 20, 2022, paving the way for a decentralized approach to governing college sports that will hand more power to schools and conferences.  - AP Photo/Michael Conroy, File

FILE - Signage at the headquarters of the NCAA is viewed in Indianapolis, March 12, 2020. NCAA member schools voted to ratify a new, pared-down constitution Thursday, Jan. 20, 2022, paving the way for a decentralized approach to governing college sports that will hand more power to schools and conferences.

AP Photo/Michael Conroy, File

INDIANAPOLIS (AP) — The NCAA generated more than $1.15 billion in revenue in 2021, returning to normal after the cancellation of the men's basketball tournament because of the pandemic in 2020 cost the association and its member schools $800 million.

The NCAA released its financial records Wednesday.

Most NCAA revenue comes from its contract with CBS and Turner for the rights to televise the men's Division I basketball tournament. That contract paid the NCAA $850 million in 2021 and is scheduled to pay $870 million in 2022.

NCAA revenues were $1.12 billion in 2019.

The majority of the revenue is distributed back to its more than 1,200 member schools. The 350 Division I schools that can participate in the basketball tournament earn the bulk of it, mostly through shared payouts to conferences.

The NCAA distributed $613 million to its members in 2021 after that figure dropped to $246 million during 2020.

An insurance payout of $270 million in 2020 helped cover some of lost revenue from the canceled tournament. The NCAA received another $81 million in insurance to help make up for lost ticket revenue and expenses related to COVID-19 precautions for last season's tournament, which was played entirely in and around Indianapolis.

Support independent journalism today. You rely on WFYI to stay informed, and we depend on you to make our work possible. Donate to power our nonprofit reporting today. Give now.

 

Related News

Report shows a widening misalignment  between job growth and educational attainment in Indiana post-pandemic
Local high school students work with homeless dogs for Paws & Think program
Purdue student found dead inside campus residence hall