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College athletic departments got their first indication of how the coronavirus pandemic might hurt their bottom lines when the N.C.A.A. announced on Thursday that it would slash its distribution of men’s basketball tournament revenue by about $375 million, a cut of nearly two-thirds.
The N.C.A.A. board of governors voted to distribute $225 million — instead of the $600 million that had been budgeted — to 32 conferences. The payout comes from revenue generated by the lucrative Division I tournament, which was canceled on March 12, three days before the 68-team bracket was to be unveiled.