07-04-2002, 08:27 PM
SEC still No. 1 moneymaker in college sports
July 4, 2002
SportsLine.com wire reports
BIRMINGHAM, Ala. -- A big jump in football TV income helped the Southeastern Conference take in more than $100 million last year to maintain its position as the richest college sports league.
The SEC's take from regular-season football games increased 38 percent to $49 million during the tax year that ended Aug. 31, according to Internal Revenue Service records reviewed by The Associated Press.
With $35 million in assets and no liabilities, the SEC's total revenues for the year were $100.8 million -- well ahead of the second-place Big 12 Conference, which reported $85.6 million in revenues, $4 million in assets and $293,833 in liabilities.
The IRS documents are open to the public because of the conferences' status as tax-exempt, educational organizations.
The SEC's executive associate commissioner, Mark Womack, said Wednesday that conferences report their finances differently, so it is hard to make exact comparisons between leagues.
But the SEC, with 12 member schools and a multiyear football contract with CBS-TV, appears in a dominant position nationally as Mike Slive takes over as commissioner from Roy Kramer, who retired.
Slive said maintaining the league's steady growth in revenues depends on several factors, including television contracts and postseason play.
"We are not going to wait for very long before we sit down with our staff and put together a task force to begin to prepare what the SEC's position is on these issues," he said Tuesday at a news conference announcing his hiring.
Slive formerly headed Conference USA, which reported only $18 million in revenues -- less than 20 percent of the SEC's income.
The SEC gave member schools a total of $79 million last year, with the money allotted through a formula that takes factors into account including television appearances, bowl games and tournament appearances.
Kentucky received the largest share, $7 million, and Florida received the lowest, $6.2 million. Womack said Florida's number was lower because the league's payments to schools do not include money that goes directly to universities for bowl appearances.
July 4, 2002
SportsLine.com wire reports
BIRMINGHAM, Ala. -- A big jump in football TV income helped the Southeastern Conference take in more than $100 million last year to maintain its position as the richest college sports league.
The SEC's take from regular-season football games increased 38 percent to $49 million during the tax year that ended Aug. 31, according to Internal Revenue Service records reviewed by The Associated Press.
With $35 million in assets and no liabilities, the SEC's total revenues for the year were $100.8 million -- well ahead of the second-place Big 12 Conference, which reported $85.6 million in revenues, $4 million in assets and $293,833 in liabilities.
The IRS documents are open to the public because of the conferences' status as tax-exempt, educational organizations.
The SEC's executive associate commissioner, Mark Womack, said Wednesday that conferences report their finances differently, so it is hard to make exact comparisons between leagues.
But the SEC, with 12 member schools and a multiyear football contract with CBS-TV, appears in a dominant position nationally as Mike Slive takes over as commissioner from Roy Kramer, who retired.
Slive said maintaining the league's steady growth in revenues depends on several factors, including television contracts and postseason play.
"We are not going to wait for very long before we sit down with our staff and put together a task force to begin to prepare what the SEC's position is on these issues," he said Tuesday at a news conference announcing his hiring.
Slive formerly headed Conference USA, which reported only $18 million in revenues -- less than 20 percent of the SEC's income.
The SEC gave member schools a total of $79 million last year, with the money allotted through a formula that takes factors into account including television appearances, bowl games and tournament appearances.
Kentucky received the largest share, $7 million, and Florida received the lowest, $6.2 million. Womack said Florida's number was lower because the league's payments to schools do not include money that goes directly to universities for bowl appearances.