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BIRMINGHAM, Ala. — The Southeastern Conference announced on Thursday afternoon that it had brought in a total revenue of $777.8 million for the 2020-21 fiscal year.

The money, divided amongst the 14 universities that make up the SEC, averaged slightly over $54.6 million per institution. The amount issued to each individual school is roughly $9.1 million more per school than it was the previous fiscal year. The fiscal year ended on Aug. 31, 2021.

The sum of money does not include bowl revenue, which is retained by schools for bowl expenses.

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The number also does not include the additional $23 million that the SEC distributed to its institutions in 2021 in order to mitigate COVID-related financial losses. In total, SEC schools received $77 million in distribution last season. Only 53 FBS schools have a total athletic budget of $77 million.

The announcement came on the same day that the SEC hosted all 14 football coaches of the conference at its annual coaches meeting. Following the meeting, SEC commissioner Greg Sankey issued a statement as the conference announced its financial report.

“The commitment of the SEC’s 14 universities to provide an impactful and lasting student-athlete experience is enhanced exponentially by the substantial revenue distributed through the Southeastern Conference,” Sankey said in a statement. “As a direct result of this distribution, SEC universities provide their student-athletes exceptional instruction, training, equipment, academic counseling, medical care, mental health and wellness support and life-skill development that is unmatched in intercollegiate athletics.”

For the 2019-20 financial year, the SEC saw $657.7 million distributed amongst its institutions, with the average amount per school being issued was $45.5 million. For the 2020-21 fiscal year, the entire conference gained approximately $120.1 million compared to the previous year.

For the 2021-22 athletic seasons across all SEC sports, there are currently more than 5,400 male and female athletes that represent the conference that receive financial aid, including non-scholarship participants. In total, more than 7,100 athletes participate in sports sponsored by the 14 SEC institutions.