Report: Big Ten Member Schools Each Received $60.5M in 2023; SEC Teams Got $51-52M

Ahead of the impending conference realignment, the Big Ten and SEC are coming off successful years financially.

Scott Dochterman of The Athletic reported on Monday that a tax filing revealed that the Big Ten "saw revenues jump by more than $34 million in fiscal year 2023" with the 12 fully vested member schools receiving "between $60.48 million and $60.55 million."

Dochterman also reported that the SEC's tax return stated the conference "dispersed between $51 million and $51.8 million to each of its 14 members during the 2023 fiscal year."

The SEC's total payout of $718 million to its members was up from $698.5 million in the fiscal year 2022. Each school's athletic department received "about a $1.8 million bump" thanks to the increase in revenue.

The SEC's overall revenue was $852.6 million, a $50.5 million jump from the previous year. Following expenses, the conference made a $29.4 million profit, $9.5 million more than it made in 2022. The SEC also ended the fiscal year with $191.1 million in assets.

It was noted that $544.4 million of the SEC's overall revenue came from its media rights deals. Postseason participation also netted the conference $274 million.

The two non-vested members of the Big Ten, Maryland and Rutgers, "picked up $58.8 million and $58.7 million, respectively." Therefore, the league's 14 members saw pay increases of "between $1.6 million and $4 million," and those numbers are expected to jump significantly next year.

The Big Ten generated a total revenue of $880 million in the fiscal year 2023, though the conference spent $897.4 million and holds more than $255 million in assets. The total expenses rose by $46 million, so the Big Ten was forced to report a deficit for the third straight year.

However, Dochterman reported that the Big Ten's revenue "should grow and perhaps exceed $1 billion at the end of the current fiscal year, thanks in part to the conference's latest media rights package."

The SEC is set to add Texas and Oklahoma to the conference this year, while the Big Ten will be adding USC and UCLA, among other schools.