NCAA issues cash payouts to Division 1 programs, B1G schools get top dollar
B1G schools are about to get paid by the NCAA.
According to USA Today, the NCAA Board of Governors and the Division I Board of Directors approved a plan that would reward schools with a one-time payment based on the scholarships they provided during the 2013-14 school year.
In other words, the bigger athletic departments will get the bigger payouts from the NCAA. No conference will benefit from that as much as the B1G.
Ohio State will receive the largest payout of any institution at $1.3 million for providing the equivalent of 404 scholarships. Michigan, Michigan State, Minnesota, Penn State and Wisconsin will also receive payouts of more than $1 million.
Here’s how much each B1G school will receive from the NCAA in mid-April (via USA Today):
- Ohio State — $1,329,575
- Michigan — $1,162,383
- Penn State — $1,150,962
- Michigan State — $1,095,868
- Wisconsin — $1,075,726
- Minnesota — $1,055,715
- Indiana — $994,697
- Iowa — $974,258
- Nebraska — $914,326
- Illinois — $868,414
- Northwestern — $884,163
- Purdue — $839,649
That gave the B1G a total payout of $12,302,734, which was more than any other conference on a per school basis. The SEC, which had 14 institutions, had the third-highest payout of any conference at $11,503,337, but no school will receive $1 million.
The ACC had a larger total payout than the B1G at $12,722,624, but that was because it had 15 institutions counted — compared to 12 for the B1G — including Maryland ($886,383). Only two ACC schools will receive at least $1 million.
Rutgers ($915,017) was listed under the American Athletic Conference because the payouts reflect the scholarships from the 2013-14 school year.
The NCAA will monitor how the payouts are spent, according to USA Today.
Schools will face restrictions on how they can use the money, which is coming from the liquidation of a type of endowment that had grown to more $360 million. The money is to be put toward “the direct benefit of the student-athlete and their academic success, life skills, career success, health and safety and student-athlete focused diversity and inclusion initiatives,” according the Q&A document. The money cannot be used for items such as coaches’ salaries, strength equipment, and stadium or arena improvements aimed at fans.
Each school will have to provide the NCAA office with answers to a 48-item spending plan questionnaire within three months of receiving the money, and the plan will have to be approved by NCAA staff before any of the money can be spent. Schools will be subject to random audits of their use of the money, and the spending plan questionnaire advises schools that supporting “documents should be retained for a 10 year period … which may exceed your institution’s current document retention policy.”