Sports

SEC gives extra $23 million to each school because of COVID

Published May 19, 2021 5:46 PM

BIRMINGHAM, Ala. (AP) — The Southeastern Conference has given its 14 member schools $23 million each to help offset the financial impact of COVID-19 on their athletic programs.

The league announced the supplemental revenue distribution on Wednesday.

The SEC said it plans to use future conference revenues from increased media rights fees to pay for the one-time supplement to the 2020-21 fiscal year payouts.

SEC members averaged some $45 million in revenue shortfalls because of the pandemic, the league said.

The SEC said it will begin allocating a portion of those media rights fees starting in 2025 to pay for the supplemental distributions.

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