SEC Reports $59 Million Deficit Despite $840M Revenue

The Southeastern Conference (SEC) reported a $59 million deficit for the 2024 fiscal year, despite generating $840 million in total revenue, marking a 1.5% decrease from the previous year. The deficit was attributed to increased expenses and larger distributions to member schools, including $27.5 million each to new members Texas and Oklahoma, who joined in July 2024. These distributions were part of transition payments funded by ESPN and refundable application fees paid in 2021. The SEC distributed a total of $808.4 million to its 16 member universities, with incumbent schools receiving an average of $52.5 million each. SEC Commissioner Greg Sankey received a salary increase, raising his compensation to nearly $4.3 million. Despite the fiscal shortfall, the SEC remains optimistic about its financial future due to lucrative television deals and the addition of Texas and Oklahoma, which are valuable athletic brands.