2025 Revenue Sharing Estimates – SEC Schools:
As part of the House v. NCAA proposed settlement, NCAA member schools will be allowed to share athletic department revenues with their varsity athletes beginning in the 2025-26 academic year. The initial revenue sharing cap per school has been tentatively set at $ 20.5 million per year. We analyzed the most recent NCAA financial reporting from six SEC public universities and arrived at the following revenue sharing estimates:
School Total AD
Revenue *Revenue
Sharing %Est Revenue
Sharing 2025Football
Team ShareMen's BB
Team ShareFootball
& MBB %
Arkansas 132,103,766 16% 20,500,000 14,986,157 4,001,897 93%
Georgia 125,667,798 16% 20,500,000 17,385,893 2,217,185 96%
Louisiana State 138,574,324 15% 20,500,000 16,689,153 2,170,071 92%
Mississippi 101,643,972 20% 20,500,000 15,517,344 2,783,387 89%
Missouri 88,265,705 22% 19,418,455 13,550,295 4,709,321 94%
Tennessee 134,277,934 15% 20,500,000 15,858,594 3,122,535 93%
Average 120,088,917 17% 20,319,743 15,664,573 3,167,399 93%
These estimates assume each school limits total revenue sharing to 22% of its annual athletic department revenues – this is the percentage utilized in the proposed settlement in House v NCAA. However, a school can elect to share any percentage (or none) of its athletic revenues as long as the annual total payout does not exceed the $ 20.5 million tentative cap. From our analysis, football and men’s basketball will likely account for close to 95% of revenue sharing at most power conference schools.
The following are revenue summaries for each school – please see the supporting notes and disclosures following these tables below.
Athletic Department Revenues – Arkansas:
| Athletic Department Revenue Summary * | Total AD Revenue* | Football | Men's Basketball | All Other Teams | Non-Team Specific** |
|
|---|---|---|---|---|---|---|
| Ticket Sales | 51,117,442 | 38,903,688 | 8,022,711 | 4,191,043 | - | |
| Media Rights | 37,798,607 | 15,115,000 | 4,255,307 | - | 18,428,300 | |
| NCAA & Conference Revenue | 7,006,146 | 709,191 | 3,641,575 | 1,101,594 | 1,553,786 | |
| Bowl Games | 10,642,855 | 10,642,855 | - | - | ||
| Game Day Revenues | 3,133,028 | 1,766,040 | 502,096 | 297,619 | 567,273 | |
| Sponsorships & Advertising | 20,247,255 | 4,178,190 | 2,846,369 | 1,478,859 | 11,743,837 | |
| Other Revenues | 2,158,433 | 1,093,454 | 67,855 | 236,137 | 760,987 | |
| Total AD Revenue | 132,103,766 | 72,408,418 | 19,335,913 | 7,305,252 | 33,054,183 |
Estimated Revenue Sharing 2025 – Arkansas:
| 2025 Estimated Revenue Sharing | Team | Total AD Revenue* | Revenue % ** | Allocation % ** | Est Team allocation | # of eligible Athletes *** | Average per player |
|---|---|---|---|---|---|---|---|
| Baseball | M | 5,612,422 | 4.2% | 5.7% | 1,161,586 | 34 | 34,164 |
| Basketball | M | 19,335,913 | 14.6% | 19.5% | 4,001,897 | 15 | 266,793 |
| Basketball | W | 352,694 | 0.3% | 0.4% | 72,996 | 14 | 5,214 |
| Football | M | 72,408,418 | 54.8% | 73.1% | 14,986,157 | 105 | 142,725 |
| Golf | M | 11,945 | 0.0% | 0.0% | 2,472 | 9 | 275 |
| Golf | W | 1,220 | 0.0% | 0.0% | 252 | 9 | 28 |
| Gymnastics | W | 169,915 | 0.1% | 0.2% | 35,167 | 18 | 1,954 |
| Soccer | W | 104,886 | 0.1% | 0.1% | 21,708 | 28 | 775 |
| Softball | W | 495,571 | 0.4% | 0.5% | 102,567 | 25 | 4,103 |
| Swimming | W | 5,375 | 0.0% | 0.0% | 1,112 | 24 | 46 |
| Tennis | M | 14,261 | 0.0% | 0.0% | 2,952 | 7 | 422 |
| Tennis | W | 3,317 | 0.0% | 0.0% | 687 | 9 | 76 |
| Track & Field / X-C | M | 228,332 | 0.2% | 0.2% | 47,257 | 57 | 829 |
| Track & Field / X-C | W | 221,346 | 0.2% | 0.2% | 45,811 | 57 | 804 |
| Volleyball | W | 83,968 | 0.1% | 0.1% | 17,379 | 16 | 1,086 |
| Non-team specific ** | 33,054,183 | 25.0% | |||||
| Totals | 132,103,766 | 100% | 100% | 20,500,000 | 427 |
Athletic Department Revenues – Georgia:
| Athletic Department Revenue Summary * | Total AD Revenue* | Football | Men's Basketball | All Other Teams | Non-Team Specific** |
|
|---|---|---|---|---|---|---|
| Ticket Sales | 38,549,829 | 36,705,515 | 1,166,629 | 673,906 | 3,779 | |
| Media Rights | 42,906,922 | 20,204,218 | 4,854,039 | 299,365 | 17,549,300 | |
| NCAA & Conference Revenue | 3,793,746 | 709,191 | 3,132,692 | - | -48,137 | |
| Bowl Games | 12,695,831 | 12,695,831 | - | - | ||
| Game Day Revenues | 940,230 | 705,172 | 94,023 | 141,035 | - | |
| Sponsorships & Advertising | 23,194,797 | 17,396,098 | 2,319,480 | 3,479,219 | - | |
| Other Revenues | 3,586,443 | 2,338,928 | 6,921 | 88,437 | 1,152,157 | |
| Total AD Revenue | 125,667,798 | 90,754,953 | 11,573,784 | 4,681,962 | 18,657,099 |
Estimated Revenue Sharing 2025 – Georgia:
| 2025 Estimated Revenue Sharing | Team | Total AD Revenue* | Revenue % ** | Allocation % ** | Est Team allocation | # of eligible Athletes *** | Average per player |
|---|---|---|---|---|---|---|---|
| Baseball | M | 536,417 | 0.4% | 0.5% | 102,761 | 34 | 3,022 |
| Basketball | M | 11,573,784 | 9.2% | 10.8% | 2,217,186 | 14 | 158,370 |
| Basketball | W | 1,304,692 | 1.0% | 1.2% | 249,939 | 15 | 16,663 |
| Football | M | 90,754,953 | 72.2% | 84.8% | 17,385,893 | 105 | 165,580 |
| Golf | M | 89,004 | 0.1% | 0.1% | 17,050 | 9 | 1,894 |
| Golf | W | 88,401 | 0.1% | 0.1% | 16,935 | 8 | 2,117 |
| Gymnastics | W | 1,358,079 | 1.1% | 1.3% | 260,167 | 19 | 13,693 |
| Soccer | W | 96,710 | 0.1% | 0.1% | 18,527 | 28 | 662 |
| Softball | W | 124,341 | 0.1% | 0.1% | 23,820 | 24 | 992 |
| Swimming | M | 89,067 | 0.1% | 0.1% | 17,063 | 30 | 569 |
| Swimming | W | 89,067 | 0.1% | 0.1% | 17,063 | 30 | 569 |
| Tennis | M | 98,013 | 0.1% | 0.1% | 18,776 | 9 | 2,086 |
| Tennis | W | 98,061 | 0.1% | 0.1% | 18,786 | 9 | 2,087 |
| Track & Field / X-C | M | 254,588 | 0.2% | 0.2% | 48,771 | 39 | 1,251 |
| Track & Field / X-C | W | 275,811 | 0.2% | 0.3% | 52,837 | 45 | 1,174 |
| Volleyball | W | 90,902 | 0.1% | 0.1% | 17,414 | 15 | 1,161 |
| Other sports | M/W | 88,809 | 0.1% | 0.1% | 17,013 | 57 | 298 |
| Non-team specific ** | 18,657,099 | 14.8% | |||||
| Totals | 125,667,798 | 100% | 100% | 20,500,000 | 490 |
Athletic Department Revenues – Louisiana State:
| Athletic Department Revenue Summary * | Total AD Revenue* | Football | Men's Basketball | All Other Teams | Non-Team Specific** |
|
|---|---|---|---|---|---|---|
| Ticket Sales | 50,978,657 | 40,718,349 | 2,445,504 | 5,244,868 | 2,569,936 | |
| Media Rights | 46,291,607 | 15,115,000 | 4,255,307 | - | 26,921,300 | |
| NCAA & Conference Revenue | 6,461,663 | 709,191 | 3,180,273 | 1,620,336 | 951,863 | |
| Bowl Games | 11,055,461 | 11,055,461 | - | - | - | |
| Game Day Revenues | 10,132,192 | 3,806,408 | 101,410 | 584,289 | 5,640,085 | |
| Sponsorships & Advertising | 3,651,920 | - | - | - | 3,651,920 | |
| Other Revenues | 10,002,824 | 5,366,971 | - | 98,200 | 4,537,653 | |
| Total AD Revenue | 138,574,324 | 76,771,380 | 9,982,494 | 7,547,693 | 44,272,757 |
Estimated Revenue Sharing 2025 – Louisiana State:
| 2025 Estimated Revenue Sharing | Team | Total AD Revenue* | Revenue % ** | Allocation % ** | Est Team allocation | # of eligible Athletes *** | Average per player |
|---|---|---|---|---|---|---|---|
| Baseball | M | 5,011,351 | 3.6% | 5.3% | 1,089,406 | 34 | 32,041 |
| Basketball | M | 9,982,494 | 7.2% | 10.6% | 2,170,071 | 15 | 144,671 |
| Basketball | W | 1,461,679 | 1.1% | 1.6% | 317,751 | 15 | 21,183 |
| Beach Volleyball | W | 15,890 | 0.0% | 0.0% | 3,454 | 19 | 182 |
| Football | M | 76,771,380 | 55.4% | 81.4% | 16,689,153 | 105 | 158,944 |
| Golf | M | - | 0.0% | 0.0% | - | 9 | - |
| Golf | W | 8,577 | 0.0% | 0.0% | 1,865 | 9 | 207 |
| Gymnastics | W | 530,393 | 0.4% | 0.6% | 115,301 | 19 | 6,068 |
| Soccer | W | 23,192 | 0.0% | 0.0% | 5,042 | 28 | 180 |
| Softball | W | 285,874 | 0.2% | 0.3% | 62,145 | 24 | 2,589 |
| Swimming | M | 12,480 | 0.0% | 0.0% | 2,713 | 30 | 90 |
| Swimming | W | 12,480 | 0.0% | 0.0% | 2,713 | 30 | 90 |
| Tennis | M | - | 0.0% | 0.0% | - | 9 | - |
| Tennis | W | 12,311 | 0.0% | 0.0% | 2,676 | 9 | 297 |
| Track & Field / X-C | M | 57,686 | 0.0% | 0.1% | 12,540 | 39 | 322 |
| Track & Field / X-C | W | 57,688 | 0.0% | 0.1% | 12,541 | 36 | 348 |
| Volleyball | W | 58,092 | 0.0% | 0.1% | 12,628 | 18 | 702 |
| Non-team specific ** | 44,272,757 | 31.9% | |||||
| Totals | 138,574,324 | 100% | 100% | 20,500,000 | 448 |
Athletic Department Revenues – Mississippi:
| Athletic Department Revenue Summary * | Total AD Revenue* | Football | Men's Basketball | All Other Teams | Non-Team Specific** |
|
|---|---|---|---|---|---|---|
| Ticket Sales | 22,445,112 | 18,312,116 | 1,357,798 | 2,775,198 | - | |
| Media Rights | 42,236,573 | 17,654,346 | 5,040,672 | 945,018 | 18,596,537 | |
| NCAA & Conference Revenue | 5,696,910 | 126,698 | 2,770,431 | 512,153 | 2,287,628 | |
| Bowl Games | 10,639,229 | 10,639,229 | - | - | - | |
| Game Day Revenues | 4,097,928 | 3,040,832 | 123,000 | 708,069 | 226,027 | |
| Sponsorships & Advertising | 8,118,683 | 149,938 | 1,927 | 390,186 | 7,576,632 | |
| Other Revenues | 8,409,537 | 2,472,180 | 104,462 | 2,095,354 | 3,737,541 | |
| Total AD Revenue | 101,643,972 | 52,395,339 | 9,398,290 | 7,425,978 | 32,424,365 |
Estimated Revenue Sharing 2025 – Mississippi:
| 2025 Estimated Revenue Sharing | Team | Total AD Revenue* | Revenue % ** | Allocation % ** | Est Team allocation | # of eligible Athletes *** | Average per player |
|---|---|---|---|---|---|---|---|
| Baseball | M | 5,673,769 | 5.6% | 8.2% | 1,680,337 | 34 | 49,422 |
| Basketball | M | 9,398,290 | 9.2% | 13.6% | 2,783,387 | 15 | 185,559 |
| Basketball | W | 570,068 | 0.6% | 0.8% | 168,831 | 14 | 12,059 |
| Football | M | 52,395,339 | 51.5% | 75.7% | 15,517,344 | 105 | 147,784 |
| Golf | M | 16,590 | 0.0% | 0.0% | 4,913 | 9 | 546 |
| Golf | W | 24,686 | 0.0% | 0.0% | 7,311 | 9 | 812 |
| Soccer | W | 373,740 | 0.4% | 0.5% | 110,686 | 27 | 4,099 |
| Softball | W | 265,334 | 0.3% | 0.4% | 78,581 | 25 | 3,143 |
| Tennis | M | 64,020 | 0.1% | 0.1% | 18,960 | 8 | 2,370 |
| Tennis | W | 61,081 | 0.1% | 0.1% | 18,090 | 8 | 2,261 |
| Track & Field / X-C | M | 68,767 | 0.1% | 0.1% | 20,366 | 52 | 392 |
| Track & Field / X-C | W | 62,478 | 0.1% | 0.1% | 18,503 | 43 | 430 |
| Volleyball | W | 234,387 | 0.2% | 0.3% | 69,416 | 18 | 3,856 |
| Other sports | M/W | 11,058 | 0.0% | 0.0% | 3,275 | 8 | 409 |
| Non-team specific ** | 32,424,365 | 31.9% | |||||
| Totals | 101,643,972 | 100% | 100% | 20,500,000 | 375 |
Athletic Department Revenues – Missouri:
| Athletic Department Revenue Summary * | Total AD Revenue* | Football | Men's Basketball | All Other Teams | Non-Team Specific** |
|
|---|---|---|---|---|---|---|
| Ticket Sales | 16,961,664 | 10,385,202 | 4,546,050 | 559,317 | 1,471,095 | |
| Media Rights | 37,519,607 | 15,715,000 | 4,255,307 | - | 17,549,300 | |
| NCAA & Conference Revenue | 5,534,964 | - | 3,316,212 | - | 2,218,752 | |
| Bowl Games | 10,419,047 | 10,419,047 | - | - | - | |
| Game Day Revenues | 3,233,046 | 1,905,531 | 707,085 | 219,103 | 401,327 | |
| Sponsorships & Advertising | 8,437,186 | - | - | - | 8,437,186 | |
| Other Revenues | 6,160,191 | 156,866 | 584,159 | 2,521,134 | 2,898,032 | |
| Total AD Revenue | 88,265,705 | 38,581,646 | 13,408,813 | 3,299,554 | 32,975,692 |
Estimated Revenue Sharing 2025 – Missouri:
| 2025 Estimated Revenue Sharing | Team | Total AD Revenue* | Revenue % ** | Allocation % ** | Est Team allocation | # of eligible Athletes *** | Average per player |
|---|---|---|---|---|---|---|---|
| Baseball | M | 405,539 | 0.5% | 0.7% | 142,430 | 34 | 4,189 |
| Basketball | M | 13,408,813 | 15.2% | 24.3% | 4,709,321 | 15 | 313,955 |
| Basketball | W | 342,715 | 0.4% | 0.6% | 120,365 | 13 | 9,259 |
| Football | M | 38,581,646 | 43.7% | 69.8% | 13,550,295 | 105 | 129,050 |
| Golf | M | - | 0.0% | 0.0% | - | 8 | - |
| Golf | W | 61,388 | 0.1% | 0.1% | 21,560 | 9 | 2,396 |
| Gymnastics | W | 358,368 | 0.4% | 0.6% | 125,863 | 20 | 6,293 |
| Soccer | W | 155,233 | 0.2% | 0.3% | 54,520 | 28 | 1,947 |
| Softball | W | 440,300 | 0.5% | 0.8% | 154,638 | 25 | 6,186 |
| Swimming | M | 173,855 | 0.2% | 0.3% | 61,060 | 30 | 2,035 |
| Swimming | W | 173,155 | 0.2% | 0.3% | 60,814 | 30 | 2,027 |
| Tennis | W | - | 0.0% | 0.0% | - | 9 | - |
| Track & Field / X-C | M | 14,560 | 0.0% | 0.0% | 5,114 | 50 | 102 |
| Track & Field / X-C | W | 14,560 | 0.0% | 0.0% | 5,114 | 48 | 107 |
| Volleyball | W | 437,132 | 0.5% | 0.8% | 153,526 | 15 | 10,235 |
| Wrestling | M | 722,749 | 0.8% | 1.3% | 253,837 | 30 | 8,461 |
| Non-team specific ** | 32,975,692 | 37.4% | |||||
| Totals | 88,265,705 | 100% | 100% | 19,418,455 | 469 |
Athletic Department Revenues – Tennessee:
| Athletic Department Revenue Summary * | Total AD Revenue* | Football | Men's Basketball | All Other Teams | Non-Team Specific** |
|
|---|---|---|---|---|---|---|
| Ticket Sales | 39,753,883 | 31,492,805 | 5,241,357 | 3,039,517 | (19,796) | |
| Media Rights | 37,816,107 | 15,890,142 | 4,333,622 | 43,043 | 17,549,300 | |
| NCAA & Conference Revenue | 4,808,754 | - | 3,158,088 | 375,771 | 1,274,895 | |
| Bowl Games | 12,274,938 | 12,274,938 | - | - | - | |
| Game Day Revenues | 12,283,276 | 8,802,878 | 1,298,782 | 1,138,004 | 1,043,612 | |
| Sponsorships & Advertising | 23,914,209 | 18,216,836 | 2,927,686 | 2,400,113 | 369,574 | |
| Other Revenues | 3,426,767 | 144,130 | 135,541 | 1,318,985 | 1,828,111 | |
| Total AD Revenue | 134,277,934 | 86,821,729 | 17,095,076 | 8,315,433 | 22,045,696 |
Estimated Revenue Sharing 2025 – Tennessee:
| 2025 Estimated Revenue Sharing | Team | Total AD Revenue* | Revenue % ** | Allocation % ** | Est Team allocation | # of eligible Athletes *** | Average per player |
|---|---|---|---|---|---|---|---|
| Total | |||||||
| Baseball | M | 2,822,665 | 2.1% | 2.5% | 515,579 | 34 | 15,164 |
| Basketball | M | 17,095,076 | 12.7% | 15.2% | 3,122,535 | 15 | 208,169 |
| Basketball | W | 2,918,532 | 2.2% | 2.6% | 533,090 | 15 | 35,539 |
| Football | M | 86,821,729 | 64.7% | 77.4% | 15,858,594 | 105 | 151,034 |
| Golf | M | 50,789 | 0.0% | 0.0% | 9,277 | 9 | 1,031 |
| Golf | W | 50,789 | 0.0% | 0.0% | 9,277 | 9 | 1,031 |
| Rowing | W | 97,250 | 0.1% | 0.1% | 17,763 | 68 | 261 |
| Soccer | W | 263,842 | 0.2% | 0.2% | 48,193 | 28 | 1,721 |
| Softball | W | 800,422 | 0.6% | 0.7% | 146,203 | 25 | 5,848 |
| Swimming | M | 238,494 | 0.2% | 0.2% | 43,563 | 30 | 1,452 |
| Swimming | W | 397,107 | 0.3% | 0.4% | 72,534 | 30 | 2,418 |
| Tennis | M | 73,949 | 0.1% | 0.1% | 13,507 | 9 | 1,501 |
| Tennis | W | 67,438 | 0.1% | 0.1% | 12,318 | 9 | 1,369 |
| Track & Field / X-C | M | 94,465 | 0.1% | 0.1% | 17,255 | 62 | 278 |
| Track & Field / X-C | W | 85,506 | 0.1% | 0.1% | 15,618 | 62 | 252 |
| Volleyball | W | 354,185 | 0.3% | 0.3% | 64,694 | 18 | 3,594 |
| - | |||||||
| Non-team specific ** | 22,045,696 | 16.4% | - | ||||
| Totals | 134,277,934 | 100% | 100% | 20,500,000 | 528 |
These estimates assume each school limits total revenue sharing to 22% of its annual athletic department revenues. However, a school can elect to share any percentage of its athletic revenues as long as the annual total payout does not exceed the $ 20.5 million tentative cap.
Since participation in revenue sharing is optional, an NCAA I school can also elect not to share revenue with its athletes. However, doing so would likely put that school at a competitive disadvantage in athletic recruiting.
Football and Men’s basketball account for close to 95% of all specific team allocated revenues at most Power Conference schools, and athletes in these two sports will be the major beneficiaries of revenue sharing. Consequently, revenue sharing available to athletes in virtually all other sports will be minimal to modest at most schools. The NCAA and its member schools are well aware of this disparity and have consequently proposed to significantly increase the number of potential scholarships available to NCAA I athletes.
These are averages per athlete. In actuality, a few players per team will receive substantially higher than the average, while many will get much less. For players who see little if any playing time, their revenue share will also likely be little or none.
Revenue sharing is in addition to any NIL compensation an athlete may receive from a 3rd party. However, there is a valid concern that a rogue program may be tempted to use its associated NIL collective as a vehicle to circumvent the annual revenue sharing cap. Consequently, the NCAA has also proposed to establish a “robust and effective enforcement and oversight program” to crack down on “pay for play” and rogue collectives. But the challenge of separating legitimate NIL from “Pay for Play” is likely going to be difficult.
* Computed Athletic Department revenue includes event tickets and admission fees, game guarantees, TV, media, licensing, advertising, sponsorships and royalty rights, bowl game, NCAA and conference distributions and all related revenues. Revenue does not include direct or indirect school support, student fees or unrecompensed (i.e. charitable) contributions to the athletic department from alumni and boosters.
** Revenue sharing is allocated per team based on the percentage of that team’s revenues to revenue from all sports as reported in the school’s most recent (2023) NCAA financial reporting. A significant variable here is athletic department revenue not allocated to a specific team. Based on the NCAA reports this can be anywhere from 6% to 37% of school athletic department revenue. Our estimates assume this non-specific revenue will be allocated in the same proportion as the team’s revenue percentage to all sports.
*** Rosters sizes subject to NCAA proposed limits beginning in 2025-26
Additions or Changes? Contact us at: [email protected]
Statistics compiled & edited by Patrick O’Rourke, CPA Washington, DC 