2025 NCAA Revenue Sharing Estimates – Big 12 Schools – NCAA Revenue Sharing & NIL Estimates 2025

2025 Revenue Sharing Estimates – Big 12 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 Big-12 public universities and arrived at the following revenue sharing estimates:

School	Total AD Revenue *	Revenue Sharing %	Est Revenue Sharing 2025	Football Team Share	Men's BB Team Share	Football & MBB %

Colorado	64,049,328	22%	14,090,852	11,253,147	2,256,597	96%
Iowa State	83,479,317	22%	18,365,450	13,183,871	4,271,867	95%
Kansas State	76,144,789	22%	16,751,854	13,673,694	2,856,660	99%
Texas Tech	82,992,017	22%	18,258,244	13,576,092	3,265,487	92%
Utah	72,953,805	22%	16,049,837	13,059,791	2,156,117	95%
West Virginia	74,250,605	22%	16,335,133	11,657,443	4,152,915	97%

Average	75,644,977	22%	16,641,895	12,734,006	3,159,941	96%

These estimates assume each school limits total revenue sharing to 22% of its annual athletic department revenues – this is the percentage utilized for the revenue sharing model outlined 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 – Colorado:

Athletic Department Revenue Summary *	Total AD Revenue*	Football	Men's Basketball	All Other Teams	Non-Team Specific**

Ticket Sales	15,721,953	13,021,995	2,400,359	299,599	-
Media Rights	19,358,000	15,428,400	3,857,100	-	72,500
NCAA & Conference Revenue	3,081,338	130,833	1,571,061	612,266	767,178
Bowl Games	10,769,167	10,769,167	-	-	-
Game Day Revenues	2,249,977	1,506,249	254,363	56,343	433,022
Sponsorships & Advertising	6,674,982	-	-	-	6,674,982
Other Revenues	6,193,911	782,490	267,026	1,182,018	3,962,377

Total AD Revenue	64,049,328	41,639,134	8,349,909	2,150,226	11,910,059

Estimated Revenue Sharing 2025 – Colorado:

2025 Estimated Revenue Sharing	Team	Total AD Revenue*	Revenue % **	Allocation % **	Est Team allocation	# of eligible Athletes ***	Average per player

Basketball	M	8,349,909	13.0%	16.0%	2,256,597	15	150,440
Basketball	W	747,819	1.2%	1.4%	202,101	15	13,473
Football	M	41,639,134	65.0%	79.9%	11,253,147	105	107,173
Golf	M	14,146	0.0%	0.0%	3,823	9	425
Golf	W	33,362	0.1%	0.1%	9,016	8	1,127
Lacrosse	W	48,683	0.1%	0.1%	13,157	33	399
Soccer	W	778,228	1.2%	1.5%	210,319	28	7,511
Tennis	W	87,875	0.1%	0.2%	23,749	9	2,639
Track & Field / X-C	M	31,258	0.0%	0.1%	8,448	62	136
Track & Field / X-C	W	42,196	0.1%	0.1%	11,404	61	187
Volleyball	W	283,349	0.4%	0.5%	76,576	18	4,254
Other sports	M/W	83,310	0.1%	0.2%	22,515	26	866

Non-team specific **		11,910,059	18.6%		-

Totals		64,049,328	100%	100%	14,090,852	389

Athletic Department Revenues – Iowa State:

Athletic Department Revenue Summary *	Total AD Revenue*	Football	Men's Basketball	All Other Teams	Non-Team Specific**

Ticket Sales	21,664,778	16,190,011	4,494,886	979,881	-
Media Rights	24,800,014	13,908,800	5,502,200	-	5,389,014
NCAA & Conference Revenue	6,208,320	-	5,621,096	416,126	171,098
Bowl Games	15,665,000	15,665,000	-	-
Game Day Revenues	2,813,709	2,147,282	221,206	197,747	247,474
Sponsorships & Advertising	3,147,790	1,185,500	64,000	346,000	1,552,290
Other Revenues	9,179,706	-	5,000	1,448,000	7,726,706

Total AD Revenue	83,479,317	49,096,593	15,908,388	3,387,754	15,086,582

Estimated Revenue Sharing 2025 – Iowa State:

2025 Estimated Revenue Sharing	Team	Total AD Revenue*	Revenue % **	Allocation % **	Est Team allocation	# of eligible Athletes ***	Average per player

Basketball	M	15,908,388	19.1%	23.3%	4,271,867	13	328,605
Basketball	W	840,806	1.0%	1.2%	225,781	13	17,368
Football	M	49,096,593	58.8%	71.8%	13,183,871	105	125,561
Golf	M	7,630	0.0%	0.0%	2,049	9	228
Golf	W	13,005	0.0%	0.0%	3,492	6	582
Gymnastics	W	47,897	0.1%	0.1%	12,862	20	643
Soccer	W	312,991	0.4%	0.5%	84,047	28	3,002
Softball	W	350,065	0.4%	0.5%	94,003	25	3,760
Swimming	W	415,024	0.5%	0.6%	111,446	28	3,980
Tennis	W	11,133	0.0%	0.0%	2,990	7	427
Track & Field / X-C	M	223,144	0.3%	0.3%	59,921	52	1,152
Track & Field / X-C	W	693,324	0.8%	1.0%	186,178	44	4,231
Volleyball	W	153,530	0.2%	0.2%	41,227	18	2,290
Wrestling	M	319,205	0.4%	0.5%	85,716	30	2,857

Non-team specific **		15,086,582	18.1%		-

Totals		83,479,317	100%	100%	18,365,450	398

Athletic Department Revenues – Kansas State:

Athletic Department Revenue Summary *	Total AD Revenue*	Football	Men's Basketball	All Other Teams	Non-Team Specific**

Ticket Sales	18,941,330	14,751,079	3,694,693	495,558	-
Media Rights	32,581,452	21,733,827	5,777,346	-	5,070,279
NCAA & Conference Revenue	3,544,568	-	1,576,820	249,717	1,718,031
Bowl Games	14,842,652	14,842,652	-	-
Game Day Revenues	2,842,954	2,518,418	200,452	124,084	-
Sponsorships & Advertising	1,909,126	-	-	-	1,909,126
Other Revenues	1,482,707	-		2,890	1,479,817

Total AD Revenue	76,144,789	53,845,976	11,249,311	872,249	10,177,253

Estimated Revenue Sharing 2025 – Kansas State:

2025 Estimated Revenue Sharing	Team	Total AD Revenue*	Revenue % **	Allocation % **	Est Team allocation	# of eligible Athletes ***	Average per player

Baseball	M	250,820	0.3%	0.4%	63,693	34	1,873
Basketball	M	11,249,311	14.8%	17.1%	2,856,660	15	190,444
Basketball	W	346,148	0.5%	0.5%	87,901	14	6,279
Football	M	53,845,976	70.7%	81.6%	13,673,694	105	130,226
Golf	M	2,529	0.0%	0.0%	642	9	71
Golf	W	7,271	0.0%	0.0%	1,846	8	231
Rowing	W	43,440	0.1%	0.1%	11,031	68	162
Soccer	W	53,726	0.1%	0.1%	13,643	28	487
Tennis	W	1,832	0.0%	0.0%	465	9	52
Track & Field / X-C	M	111,188	0.1%	0.2%	28,235	62	455
Volleyball	W	55,295	0.1%	0.1%	14,042	18	780

Non-team specific **		10,177,253	13.4%		-

Totals		76,144,789	100%		16,751,854	370

Athletic Department Revenues – Texas Tech:

Athletic Department Revenue Summary *	Total AD Revenue*	Football	Men's Basketball	All Other Teams	Non-Team Specific**

Ticket Sales	18,213,458	11,681,371	3,577,052	2,368,953	586,082
Media Rights	25,661,053	18,566,078	7,094,975	-	-
NCAA & Conference Revenue	3,676,946	2,033,309	511,183	985,869	146,585
Bowl Games	13,283,013	13,283,013	-	-
Game Day Revenues	2,371,404	1,639,653	298,520	253,027	180,204
Sponsorships & Advertising	15,755,580	1,174,000	255,000	1,484,200	12,842,380
Other Revenues	4,030,563	750,020	80,000	34,400	3,166,143

Total AD Revenue	82,992,017	49,127,444	11,816,730	5,126,449	16,921,394

Estimated Revenue Sharing 2025 – Texas Tech:

2025 Estimated Revenue Sharing	Team	Total AD Revenue*	Revenue % **	Allocation % **	Est Team allocation	# of eligible Athletes ***	Average per player

Baseball	M	1,457,467	1.8%	2.2%	402,763	34	11,846
Basketball	M	11,816,730	14.2%	17.9%	3,265,487	14	233,249
Basketball	W	1,313,302	1.6%	2.0%	362,924	14	25,923
Football	M	49,127,444	59.2%	74.4%	13,576,092	105	129,296
Golf	M	110,313	0.1%	0.2%	30,484	9	3,387
Golf	W	112,210	0.1%	0.2%	31,009	9	3,445
Soccer	W	306,607	0.4%	0.5%	84,729	28	3,026
Softball	W	303,326	0.4%	0.5%	83,822	25	3,353
Tennis	M	103,188	0.1%	0.2%	28,515	9	3,168
Tennis	W	111,432	0.1%	0.2%	30,794	8	3,849
Track & Field / X-C	M	509,149	0.6%	0.8%	140,700	59	2,385
Track & Field / X-C	W	511,257	0.6%	0.8%	141,283	53	2,666
Volleyball	W	288,198	0.3%	0.4%	79,642	18	4,425

Non-team specific **		16,921,394	20.4%		-

Totals		82,992,017	100%	100%	18,258,244	385

Athletic Department Revenues – Utah:

Athletic Department Revenue Summary *	Total AD Revenue*	Football	Men's Basketball	All Other Teams	Non-Team Specific**

Ticket Sales	12,841,187	10,010,659	1,585,987	1,235,896	8,645
Media Rights	21,836,189	18,560,761	3,275,428	-	-
NCAA & Conference Revenue	6,623,674	2,470,490	1,899,747	263,267	1,990,170
Bowl Games	12,904,842	12,904,842	-	-	-
Game Day Revenues	1,735,298	1,509,686	143,641	75,785	6,186
Sponsorships & Advertising	12,196,867	8,968,708	1,508,035	1,111,746	608,378
Other Revenues	4,815,748	2,094,430	918,310	922,347	880,661

Total AD Revenue	72,953,805	56,519,576	9,331,148	3,609,041	3,494,040

Estimated Revenue Sharing 2025 – Utah:

2025 Estimated Revenue Sharing	Team	Total AD Revenue*	Revenue % **	Allocation % **	Est Team allocation	# of eligible Athletes ***	Average per player

Baseball	M	315,726	0.4%	0.5%	72,954	34	2,146
Basketball	M	9,331,148	12.8%	13.4%	2,156,117	15	143,741
Basketball	W	725,473	1.0%	1.0%	167,633	13	12,895
Beach Volleyball	W	34,977	0.0%	0.1%	8,082	16	505
Football	M	56,519,576	77.5%	81.4%	13,059,791	105	124,379
Golf	M	48,463	0.1%	0.1%	11,198	9	1,244
Gymnastics	W	883,197	1.2%	1.3%	204,077	15	13,605
Lacrosse	M	201,534	0.3%	0.3%	46,568	48	970
Soccer	W	338,553	0.5%	0.5%	78,228	28	2,794
Softball	W	360,333	0.5%	0.5%	83,261	25	3,330
Swimming	M	115,821	0.2%	0.2%	26,762	30	892
Swimming	W	139,665	0.2%	0.2%	32,272	30	1,076
Tennis	M	126,433	0.2%	0.2%	29,214	9	3,246
Tennis	W	21,976	0.0%	0.0%	5,078	8	635
Track & Field / X-C	W	90,207	0.1%	0.1%	20,844	39	534
Volleyball	W	135,433	0.2%	0.2%	31,294	17	1,841
Other sports	M/W	71,250	0.1%	0.1%	16,464	28	588

Non-team specific **		3,494,040	4.8%		-		-

Totals		72,953,805	100%	100%	16,049,837	469

Athletic Department Revenues – West Virginia:

Athletic Department Revenue Summary *	Total AD Revenue*	Football	Men's Basketball	All Other Teams	Non-Team Specific**

Ticket Sales	17,805,317	12,143,388	4,823,791	391,733	446,405
Media Rights	27,511,174	22,008,939	5,502,235	-	-
NCAA & Conference Revenue	13,454,701	-	86,330	719,943	12,648,428
Bowl Games	-	-	-	-	-
Game Day Revenues	2,543,327	1,718,392	484,840	58,528	281,567
Sponsorships & Advertising	9,664,752	5,798,851	3,865,901	-	-
Other Revenues	3,271,334	504,995	261,414	728,341	1,776,584

Total AD Revenue	74,250,605	42,174,565	15,024,511	1,898,545	15,152,984

Estimated Revenue Sharing 2025 – West Virginia:

2025 Estimated Revenue Sharing	Team	Total AD Revenue*	Revenue % **	Allocation % **	Est Team allocation	# of eligible Athletes ***	Average per player

Baseball	M	529,673	0.7%	0.9%	146,407	34	4,306
Basketball	M	15,024,511	20.2%	25.4%	4,152,915	14	296,637
Basketball	W	264,488	0.4%	0.4%	73,107	13	5,624
Football	M	42,174,565	56.8%	71.4%	11,657,443	105	111,023
Golf	M	15,014	0.0%	0.0%	4,150	9	461
Gymnastics	W	107,747	0.1%	0.2%	29,782	20	1,489
Rowing	W	88,201	0.1%	0.1%	24,380	64	381
Soccer	M	59,825	0.1%	0.1%	16,536	28	591
Soccer	W	163,965	0.2%	0.3%	45,321	28	1,619
Swimming	M	75,713	0.1%	0.1%	20,928	30	698
Swimming	W	74,250	0.1%	0.1%	20,523	30	684
Tennis	W	13,932	0.0%	0.0%	3,851	9	428
Track & Field / X-C	W	163,357	0.2%	0.3%	45,153	35	1,290
Volleyball	W	79,765	0.1%	0.1%	22,048	14	1,575
Wrestling	M	199,361	0.3%	0.3%	55,105	30	1,837
Other sports	M/W	63,254	0.1%	0.1%	17,484	11	1,589

Non-team specific **		15,152,984	20.4%

Totals		74,250,605	100%	100%	16,335,133	474

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. 22% is the benchmark used for the revenue sharing model outlined in the proposed House v NCAA settlement.

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 5% 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