Texas A&M, SEC Members Receive Big Raise in Revenue Distribution
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As the Southeastern Conference expands to 16 teams beginning in 2024, Texas A&M will profit in the short term.
According to SEC commissioner Greg Sankey, Texas A&M, along with the 13 other current SEC programs, received roughly $49.9 million each in revenue distribution from the league. The news was made public after Texas and Oklahoma announced they would join the SEC beginning in 2024.
The total distribution revenue comes from television agreements, post-season bowl games, the College Football Playoff, the SEC Football Championship Game, the SEC Men's Basketball Tournament, NCAA Championships and a “supplemental surplus distribution,” according to the conference's statement.
"The Southeastern Conference learned today of the decision by the Big 12 Conference to alter the membership exit date for the University of Oklahoma and the University of Texas," Sankey said in a prepared statement. "We are continuing our preparation for this membership transition, and we look forward to welcoming the Conference's new members and moving into our future as a 16-team league."
Texas and Oklahoma had been in talks of departing the Big 12 for several year in advance of the July 1, 2025 deadline. After further discussion with both the broadcast companies and new Big 12 commissioner Brett Yormark, both schools agreed to pay a combined $100 million to leave the conference following the end of all sporting events in 2023-24.
The Big 12 will expand to 14 teams for next season with the additions of BYU, Cincinnati, Central Florida and Houston beginning on July 1. Following Texas and Oklahoma's departure, the Big 12 conference will divide the $100 million equally among the eight "legacy" schools.
According to a release from the SEC: "The total includes $698.5 million distributed directly from the conference office, as well as $23.3 million retained by universities that participated in 2021-22 football bowl games to offset travel and other related bowl expenses.”
The Aggies were 8-4 in 2021 and were expected to play in the Gator Bowl against No. 17 Wake Forest before COVID-19 ravished the program internally. Texas A&M elected to back out days before kickoff, citing COVID-19, injuries, transfers and suspensions factoring into the program's inability to field a team.
Last season, the Aggies finished 5-7, becoming bowl ineligible for the first time since 2008.
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