Being part of the SEC pays for Kentucky. See how much.
Being part of the Southeastern Conference meant an average of $43.1 million to its member institutions, including Kentucky, in the 2017-18 fiscal year SEC Commissioner Greg Sankey announced Friday.
In all, the SEC distributed $604.1 million to its member institutions, not including another $23 million garnered from schools that participated in the 2017-18 bowl season. Kentucky’s payout from the 2017 Music City Bowl has been estimated by some reports as $1.83 million for that game.
“The revenues generated through SEC athletics programs benefit not only the athletics and academic pursuits of student-athletes but are also instrumental in advancing the academic missions of the conference’s 14 universities,” Sankey said in a press release. “These distributions are designed to provide each university with the flexibility to invest in unique and significant ways that create positive impacts across their respective campuses. Past uses of funds on our campuses have included the direct transfer of funds, assistance with construction and renovation of academic facilities and support of academic scholarship opportunities and academic programs.”
The total distribution is comprised of revenue from television agreements, postseason bowl games, the College Football Playoff, the SEC Football Championship, the SEC Men’s Basketball Tournament, NCAA Championships and a supplemental surplus distribution, according to the release.
The distribution represents an increase of more than $30 million from 2016-17 when an average of $40.9 million was distributed to the SEC’s 14 schools (not including bowl money).
Kentucky has renovated or built new facilities for almost every athletic program over the last decade thanks in part to SEC revenues and fund-raising initiatives. Last year, UK announced another capital campaign that will, in part, fund the renovation of Memorial Coliseum, the home of UK women’s basketball, volleyball and gymnastics.
Kentucky recently completed a $49 million new stadium and facility for its baseball program, Kentucky Proud Park, which will have its first official game on Feb. 26 when UK hosts Eastern Kentucky.