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USA Today
16-05-2025
- Business
- USA Today
Tax records show SEC, Big 12, Pac-12 all had revenue decline in 2024 fiscal year
Tax records show SEC, Big 12, Pac-12 all had revenue decline in 2024 fiscal year The final business year for the Power Five conferences, as college sports fans have come to know them, was not exactly business as usual. With schools' affiliations already beginning to change, and various legal entanglements going on, three of the five conferences reported declines in total revenue on their federal tax records for their 2024 fiscal years – and the Power Five's combined total revenue very narrowly declined. That's far from a cause for alarm, but it is the first such year-over-year decrease in a non-pandemic-affected year since USA TODAY Sports began compiling these records by obtaining data reaching back to fiscal 2011, when the Big East Conference still was playing football and there were six power conferences. In most years, the annual increase has been at least $150 million. And that may well return to being the power-conference norm, as the Big Ten and Southeastern conferences appear headed toward revenue booms for their ongoing 2025 fiscal years that likely will take each to at least $1 billion, and the Pac-12's demise and dispersal will help boost income for the Atlantic Coast Conference and the Big 12. RE-RANK: Texas leads college football NCAA 1-136 after spring BEST OF BEST: Our ranking of college football's top 25 coaches But with the ACC, Big 12 and Pac-12 providing their new returns this week in response to requests from USA TODAY Sports, and the Big Ten and SEC having done so previously, the combined revenue tally for fiscal 2024 was nearly $3.54 billion, compared to a little more than $3.55 billion for fiscal 2023. Here is conference-by-conference rundown, beginning for the three that released their tax records this week (IRS rules require revenue and expense data to be reported on a fiscal-year basis and pay data on a calendar-year basis): Pac-12 Revenue: $566.6 million, fourth among Power Five. Per-school payouts: $30.15 million for the 10 other than Oregon State and Washington State; $46.6 million for Oregon State and Washington State. Overall average for the 12 schools: $32.9 million, fifth among Power Five. Commissioner's pay: George Kliavkoff, who was ousted as of the end of February 2024, was credited with nearly $3.7 million in total compensation for the 2023 calendar year. That was about $300,000 less than his total for 2022. His base pay increased by more than $150,000 in 2023, but he received a $500,000 bonus in 2022 and no bonus in 2023. Overview: The conference's revenue fell by more the $37 million compared to fiscal 2023 as 10 schools were getting set to move, variously, to the ACC, Big Ten and Big 12. That hurt sponsorship and other revenue. Meanwhile, the conference-owned Pac-12 Networks operated at a $14 million loss for a variety of reasons, including some related to the conference's impending shakeup. In addition, bowl revenue declined by a little over $19 million primarily because the Rose Bowl was a College Football Playoff semifinal rather than a game affiliated with the Pac-12, as has occurred every three years. A legal dispute over the future of the conference and its assets that pitted Oregon State and Washington State against the 10 departing schools ended with a settlement under which each of the 10 agreed to a $6.5 million reduction in its distribution from the conference. From that $65 million, Oregon State and Washington State -- as the only remaining voting members of the conference -- added $10 million to each of their distributions to help cover their costs of continuing as the Pac-12 Conference for at least the two-year interim period allowed under NCAA rules, a statement from the conference said. This included costs 'related to future non-conference scheduling, affiliate membership in other conferences across basketball and several Olympic sports and other financial considerations,' the statement said. Separate from the annual revenues and expenses -- which resulted in an annual surplus despite the revenue declined -- the Pac-12 deducted about $58.4 million from its net assets to finally settle overpayments that Comcast made over a five-year period to the Pac-12 Networks. ACC Revenue: $711.4 million, third among Power Five. Per-school payouts: Ranged from $43.1 million to $46.4 million, except for Notre Dame, which received $20.7 million. The average was third among Power Five. Commissioner's pay: Jim Phillips was credited with nearly $4.1 million in total compensation, including almost $3.95 million in base compensation. The base amount represents a roughly 50% increase over his total for the 2022 calendar year. This was 'a compensation adjustment at the direction of the board' of directors of the conferences, which comprises school CEO's, a conference spokesperson said. Overview: The conference's fiscal 2024 revenue was nearly identical to its 2023 revenue of $706.7 million. Its outside legal expenses jumped from $7.2 million to $12.3 million amid membership disputes with Clemson and Florida State, as well as the House-NCAA litigation. Looking ahead, revenue for the ongoing 2025 fiscal year will increase due to the additions of California, Stanford and SMU, and this will be the first year in which the conference's revenue-sharing arrangements will take into account incentive payments for team success in football, men's basketball and women's basketball. Under a settlement of the disputes with Clemson and Florida State, during the fiscal year that begins July 1, 2025 – so, for the 2025-26 school year – the revenue-sharing arrangements also will take into account viewership for football and men's basketball games covered by the ACC's contract with ESPN and the ACC Network. Big 12 Revenue: $493.8 million, fourth among Power Five. Per-school payouts: Ranged from $37.8 million to $42.1 million for the schools other than newcomers BYU, Houston, Central Florida and Cincinnati, which averaged about $20 million apiece. The larger payouts were fourth among Power Five. Commissioner's pay: Brett Yormark was credited with a total of nearly $4.4 million, including just over $2.5 million categorized as base pay and $1.25 million in bonus pay. Overview: The conference's total revenue declined by about $17 million from the fiscal 2023 amount and the conference reported a nearly $37 million annual operating deficit. While revenue in four areas covered by the tax records increased, its bowl revenue dropped from just over $157 million in fiscal 2023 to $110.6 million in 2024. In a statement, the conference said this was mainly due to the CFP semifinal rotation, which resulted in the Big 12 not being contracted to appear in the Sugar Bowl during this fiscal cycle. As previously reported, Oklahoma and Texas received full revenue shares for their final year in the conference, even as the four new schools joined.
USA Today
08-05-2025
- Business
- USA Today
NCAA files revised revenue-sharing settlement addressing judge's objection on roster limits
NCAA files revised revenue-sharing settlement addressing judge's objection on roster limits Show Caption Hide Caption How coaches salaries and the NIL bill affects college football Dan Wolken breaks down the annual college football coaches compensation package to discuss salaries and how the NIL bill affects them. Sports Pulse Lawyers for the NCAA and for the athletes involved in the proposed settlement of three athlete-compensation antitrust cases against the NCAA and Power Five conferences made filings with a federal judge on Wednesday, May 7 that they said address the one concern she had said was preventing her from granting final approval to the deal. The issue involves around roster limits that had been set to go into effect immediately as part of the agreement. On April 23, U.S. District Judge Claudia Wilken said that the immediate implementation of roster limits made the proposed settlement 'not fair' because thousands of athletes who are supposed to be benefiting from the deal stood to lose their places on teams after the current school year. Wilken gave the sides two weeks to address her concerns, and in a new filing, the plaintiffs' lawyers wrote that they and the NCAA have agreed to arrangement under which: 'any athlete who would have lost their roster spot (or a promised roster spot) for the 2025-2026 academic year due to the immediate implementation of roster limits will be exempt from any roster limits at any Division I institution, for the duration of their college athletics careers.' However, Laura Reathaford, a lawyer for one objector, told USA TODAY Sports she will be filing a separate brief – an indication that objectors will be continuing to try to make their case with Wilken. In her order two weeks ago, Wilken asked that Reathaford and two other lawyers for objectors be included in discussions about revisions to the roster limits that also were included a mediator and lawyers for the plaintiffs, the NCAA and the Power Five conferences that also are defendants in the case.
USA Today
06-05-2025
- Sport
- USA Today
2026 4-star QB and Texas A&M commit invited to the Elite 11 finals
2026 4-star QB and Texas A&M commit invited to the Elite 11 finals Texas A&M's quarterback future is never set due to the transfer portal, but 2026 four-star signal caller Helaman Casuga represents the Aggies' future at the position, as he was handpicked by OC Collin Klein out of Draper, Utah, where he played with 2025 five-star wide receiver and Texas A&M signee Jerome Myles. Casuga's playmaking skills and elite accuracy make him one of the more intriguing players in the 2026 cycle, and an important early addition to Texas A&M's 2026 class, as he will likely become a popular name among nearly every Power Five program looking to find its future QB. Casuga's recent performance during the annual Elite 11 competition led to his invite to the final round, where he will join seven other quarterbacks on June 17-19. In today's college football landscape, which has made its way to the NFL, the 6'4", 6'5" QB who can't make plays out of the structure is becoming less prevalent, as sub-6'2" athletes with arm talent are all the rage. Helaman Casuga stands 6'1" and 200 pounds, and during his 2022 and 2023 seasons, the Provo, Utah native threw for 6,475 yards and 60 touchdowns. According to On3, Casuga is currently positioned as the 215th-ranked prospect, 15th-ranked quarterback, and 4th-ranked prospect in Utah. Here are the other quarterbacks Casuga will compete against next month: Tennessee commit Faizon Brandon Houston commit Keisean Henderson Texas commit Dia Bell USC verbal pledge Jonas Williams Miami verbal pledge Dereon Coleman Iowa State's Jett Thomalla Louisville commit Briggs Cherry Contact/Follow us @AggiesWire on X and like our page on Facebook to follow ongoing coverage of Texas A&M news, notes and opinions. Follow Cameron on X: @CameronOhnysty.
USA Today
20-04-2025
- Sport
- USA Today
Former Auburn forward Jahki Howard commits to Big 12 program
Former Auburn forward Jahki Howard commits to Big 12 program The former four-star forward will remain in the Power Five after announcing his transfer from Auburn. Jahki Howard was the first player from Auburn's Final Four team to enter his name into the transfer portal, and has now become the first player to announce his transfer destination. According to Joe Tipton of On3, Howard will remain in the Power Five by transferring to Utah. Howard signed with Auburn as a four-star forward out of Overtime Elite in Atlanta, Georgia, by way of Boston, Massachusetts. He committed to Auburn the same day as guard Tahaad Pettiford on Nov. 8, 2023, although he never made the same impact as Pettiford on the floor. He averaged 4.2 points and 1.1 rebounds per game while shooting 54% in 21 total appearances. Howard reached the 10-point mark twice during his time at Auburn, with his 13-point, four-rebound performance in Auburn's 98-54 win over Richmond in December. He followed up that performance by scoring 11 points in the Tigers' win over Ohio State at State Farm Arena in Atlanta. Howard is the first player from Auburn's 2024-25 roster to announce his new transfer destination. Chad Baker-Mazara, Addarin Scott, and JP Pegues are still in the transfer portal as of the timing of this post. On the other hand, Auburn has added four transfers to next season's roster in Keyshawn Hall (UCF), Keshawn Murphy (Mississippi State), Kevin Overton (Texas Tech), and Elyjah Freeman (Lincoln Memorial). Contact/Follow us @TheAuburnWire on X (Twitter), and like our page on Facebook to follow ongoing coverage of Auburn news, notes, and opinions. You can also follow Taylor on Twitter @TaylorJones__
USA Today
18-04-2025
- Sport
- USA Today
Auburn basketball adds former Texas Tech guard Kevin Overton from transfer portal
Auburn basketball adds former Texas Tech guard Kevin Overton from transfer portal Auburn's roster overhaul continues as a Power Five guard announces his plans to transfer to the Plains. NEWS: Texas Tech transfer guard Kevin Overton has committed to Auburn, he tells @On3sports. The 6-5 sophomore had a season-high 20 points on Arizona in the Big 12 semifinals. Native of Oklahoma City and began his career at Drake. — Joe Tipton (@TiptonEdits) April 17, 2025 Thursday was a hectic day for the Auburn Tigers in the news cycle as three players announced their intent to transfer out of the program. However, the day ended on a happier note for Bruce Pearl and his staff as a guard with Power Five experience committed to the program via the transfer portal. Kevin Overton, a 6-5 guard formerly of Texas Tech, will transfer to Auburn, according to Joe Tipton of On3. Overton is the third player to join Auburn's roster from the transfer portal this offseason, joining Keyshawn Hall (UCF) and Keshawn Murphy (Mississippi State). He is the first guard that Auburn has landed from the transfer portal. Overton played in 36 games at Texas Tech last season, making one start. In 22.3 minutes per game, Overton averaged 7.8 points, 3.7 rebounds, and 0.9 assists per game. He reached double-figures in points 11 times last season, and scored a season-best 20 points twice. He recently scored 12 points while collecting seven rebounds in the Red Raiders' overtime win over Arkansas in the Sweet 16. The positive news of Overton's intended transfer comes after the reports of Chad Baker-Mazara, JP Pegues, and Addarin Scott's intent to enter the transfer portal. Auburn will bring in two freshmen guards, Kaden Magwood and Simon Walker, to next season's roster, and Tahaad Pettiford's return remains on the table. Despite the potential depth at the guard spot, the losses of Denver Jones and Miles Kelly will be massive ones to make up. Overton is a suitor for either guard role and could be a valuable piece to Auburn's puzzle next season. Contact/Follow us @TheAuburnWire on X (Twitter), and like our page on Facebook to follow ongoing coverage of Auburn news, notes, and opinions. You can also follow Taylor on Twitter @TaylorJones__
