Ad Disclosure
Major cut in revenue distribution from NCAA to Division I programs in 2020, association says
Published:
The NCAA has announced that there will be a major cut in revenue distribution to Division I programs this year, after the association made the difficult decision to cancel the annual basketball tournament two weeks ago. The NCAA released a statement on Thursday.
“We are living in unprecedented times not only for higher education, but for the entire nation and around the globe as we face the COVID-19 public health crisis,” The NCAA said in a statement. “As an Association, we must acknowledge the uncertainties of our financial situation and continue to make thoughtful and prudent decisions on how we can assist conferences and campuses in supporting student-athletes now and into the future.”
The NCAA Board of Governors voted unanimously to distribute $225 million to Division I members for 2020. If the tournament had been played, the revenue distribution would’ve been $600 million — a cut of nearly $400 million.
March Madness is one of the biggest revenue-generating events of the year for the NCAA.
“The Association has prepared for a financial catastrophic event like the one we face now,” the NCAA said. “While we certainly have challenges ahead, we would be in a far worse position had it not been for this long-standing, forward-focused planning.”
Dustin grew up in the heart of Big Ten country and has been in sports media since 2010. He has been covering Big Ten football since 2014. You can follow him on Twitter: @SchutteCFB