Southeastern Conference sees slight dip in revenue for 2022

Southeast Conference revenues are down nearly 4% in fiscal year 2022, according to new conference federal tax records. The unusual slump was a small and likely temporary setback to his college sports financial standing, however, as the SEC is likely to far outpace every Power Five conference other than the Big Ten in total revenue for that year.

Document provided by the conference on Thursday in response to a request USA TODAY Sports shows the SEC with just over $802 million in total revenue for the year ended August 31, 2022. It reported $833.4 million in revenue for fiscal year 2021.

“Overall conference revenue has evolved as we have dealt with the realities of the pandemic, rescheduling our media agreements, and preparing to expand membership,” Commissioner Greg Sankey said in a statement to USA TODAY Sports. “We are confident that conference revenues will stabilize and increase significantly as we move towards a new media agreement and expansion of the conference to 16 attendees.”

The decline meant that payments to the 14 SEC member schools averaged about $49.9 million per school, about $4.7 million less per school compared to the payments the conference reported for FY 2021. Much of that drop can be attributed to the $4 million share of the signing bonus each school received when it signed a new football television deal with ESPN in December 2020, putting that money into the 2021 financial cycle.

To put it simply, it’s basically just an accounting problem. And one day Texas Longhorns And Oklahoma Sooners Join the conference, the league with 16 teams will be full of money.

More football!

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The story originally appeared on Gators Wire.