The SEC took a step toward helping its 14 member institutions recover from the COVID-19 pandemic.
SEC commissioner Greg Sankey told Ross Dellenger of Sports Illustrated that the league will distribute $23 million in supplemental revenue to each school in a one-time payment. That is $322 million in total, which the SEC plans on accessing funds from its media rights deal with ESPN that starts in 2024.
The league plans to borrow from its future earnings that will come from that deal and then repaying what it borrowed in installments that will begin in 2025.