Saint Peter's Cinderella NCAA Tournament Run Unlikely to Lead to Financial 'Jackpot'

The No. 15 Saint Peter's Peacocks have defeated some of the best teams in college basketball in their historic NCAA tournament run. However, the school will unlikely reap the financial benefits of reaching the Elite Eight, and possibly the Final Four. 

MAAC Commissioner Rich Ensor said Saint Peter's is unlikely to receive a financial "jackpot" despite its efforts in the NCAA tournament, according to ESPN's Pete Thamel. He added that how to compensate the school is something he would have to address "with my board."

"I don't anticipate there's going to be a jackpot," Ensor said of Saint. Peter's. "[The presidents] could go in a different direction. It's really not my call. They tend to want to re-invest."

Ensor added that the MAAC already has a system in place to award teams that have won in the NCAA tournament with a "modest" cut of the profit. The rest of the money is used "toward improving basketball in the league," according to Thamel.

According to Thamel, Saint Peter's run to the Elite Eight is worth more than $8.1 million. If a larger portion of that money was given to the school, it would greatly impact the Peacocks' program. 

Peacocks head coach Shaheen Holloway earns $266,344, per USA Today's Steve Berkowitz, which isn't even close to what some of the coaches still in the NCAA tournament make. For comparison, Kansas head coach Bill Self earned $5.4 million this season, per Berkowitz and USA Today colleague Paul Myerberg.

In addition, Thamel reported the program has four staff members who are unpaid. 

"Oh, my gosh," Saint Peter's athletic director Rachelle Paul said when asked about about the potential for the program to earn more. "It could change our whole program. It could help with recruiting, it could help with scholarships, it could help with facility upgrades. There's a million things that we could use that money for."

The Peacocks have been the talk of the tournament after defeating No. 2 Kentucky in the first round, No. 7 Murray State in the second round and No. 3 Purdue in the Sweet 16. They are set to face No. 8 North Carolina on Sunday in Elite Eight action.

Doug Edert and Daryl Banks III have paced the Peacocks throughout the tournament, but Holloway has received complete efforts out of his squad, both offensively and defensively. 

While Saint Peter's has already managed to put its name on the map, it could certainly further its legacy with an upset of UNC, one of the top programs in college basketball history.