Each of the Southeastern Conference’s 14 institutions during the 2014-15 fiscal year. That’s an increase of over $10 million from last year’s payment, per school.
The league revenue was generated through the SEC Network, TV deals for both basketball and football, the SEC Championship, bowl games, the SEC Tournament, and the sale of Dr. Pepper and Texas Pete hot sauce at the SEC Tournament, among many other things.
I assume a large chunk of UK’s $31.2 million will go toward those new outrageous basketball salaries and all of the facility upgrades around the football program. And maybe one big party at Mitch’s house this fall.