INDIANAPOLIS — The NCAA generated nearly $1.3 billion in revenue for the 2022-23 fiscal year, with more than half of that distributed to Division I members, according to financial statements released by the association Thursday.
NCAA revenues rose to $1.28 billion from approximately $1.14 billion in the previous fiscal year. As always, the bulk of the NCAA’s revenue ($945 million) came from media rights and marketing deals tied to championship events.
The NCAA’s deal with CBS and Warner Bros. for the rights to the men’s League I basketball tournament. Its deal with Discovery amounts to approximately $900 million annually. That means the men’s tournament generates about 69% of the NCAA’s revenue.
The value of the television deal is increasing every year, and the statements predict that it will exceed $1 billion in 2025.
The NCAA’s expenses reached $1.17 billion; this includes $669 million distributed to more than 363 Division I member schools and another $192 million to hold DI championship events, the men’s basketball National Invitation Tournament and other related programs.
More than $100 million was spent on Division II and III championships and programs, including some distributions to D-II schools.
The NCAA has no direct involvement in the operation of Division I football’s top tier, known as the Bowl Subdivision, and the College Football Playoff, which determines its champion and brings in approximately $470 million annually to participating conferences.
The NCAA currently faces at least five antitrust lawsuits challenging rules governing recruiting, athlete transfers and compensation for athletes.
House vs. The NCAA recently filed for class certification, which could leave the association on the hook for a potential multibillion-dollar payout to former and current college athletes.