Greg Sankey remains one of the highest-paid executives in college athletics. The SEC commissioner’s salary and the conference’s financial figures have been revealed, showcasing revenue fluctuations.
Despite a minor dip in earnings, the SEC continues to dominate, with new members in Texas and Oklahoma adjusting to their first year. However, ongoing concerns, including playoff structure and NIL regulations, remain points of discussion.
Greg Sankey’s SEC Revenue and Financial Details
The SEC’s total revenue for the 2024 fiscal year decreased slightly from $853 million to $840 million, according to Sportico’s Daniel Libit. The conference distributed $808.4 million to its 16 teams, though Texas and Oklahoma received a smaller share of $27.5 million each in their inaugural season.
Sankey’s compensation, as disclosed in the SEC’s 2024 tax returns, stood at $4.22 million, an increase from his 2023 salary of $3.55 million. This was his first full fiscal year under a contract extension signed in July 2023, securing his leadership through 2028.
One key reason for the SEC’s revenue dip was its lack of income from the Sugar Bowl under the College Football Playoff arrangement. Additionally, the financial report does not yet account for the $3 billion, 10-year media deal with Disney, which started with the 2024 season and will appear in next year’s filing.
Despite financial shifts, the SEC maintained its competitive dominance.
Alabama reached the national semifinals in both football and men’s basketball, while South Carolina’s women’s basketball team completed an undefeated season to win the national championship. Tennessee baseball also won the College World Series, contributing to the conference’s strong athletic performance.
Greg Sankey on College Football Playoff Issues
Sankey addressed concerns about the new 12-team college football playoff format, calling for adjustments. He emphasized that, after one season, the structure requires refinements, particularly in how the top four seeds are determined.
“The seeding issues, particularly moving teams into the Top 4, need to be looked at deeply. Now, any decisions for the coming year require unanimous agreement among the participants, so the 10 conferences, and then Notre Dame as an independent. That’s really tough to achieve,” Sankey said.
Sankey’s leadership has been pivotal as the SEC transitions with new teams and an evolving college football landscape. His contract extension reinforces the stability of the conference, with University of Georgia President Jere W. Morehead praising his role.
“Greg Sankey continues to lead the SEC effectively through these challenging times for college athletics. Under his visionary stewardship and commitment to collaboration among our members, the SEC has emerged as the nation’s most stable and successful athletic conference. [The] announcement reflects our enthusiastic endorsement of Greg’s ongoing leadership of our conference to even greater heights,” Morehead said.
Legal and lobbying costs also increased for the SEC. Sportico’s report indicated that legal expenses rose from $2.81 million to $4.33 million in 2024, while lobbying expenses surged from $81,039 to $1.29 million. This lobbying push aligns with Sankey’s push for federal oversight in NIL regulations, as he expressed on “The Paul Finebaum Show.”
“It’s a time of enormous change and enormous complexity. And when we talk about having Congressional help, it’s not a plea. It is an observation that Congress can set national standards for college sports yet again. We need to work through that, collectively, in a non-partisan way to make sure what is uniquely special about American college sports can continue,” Sankey explained.
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Upcoming decisions on NIL regulation and legal battles will shape the future of college athletics. The House v. NCAA settlement hearing on April 7 could allow schools to pay athletes directly, marking a historic shift in the NCAA’s financial structure.
Sankey’s $4.22 million salary in 2024 surpassed the highest reported NIL earnings of any athlete. Reports suggested Carson Beck was offered $4 million to transfer from Georgia to Miami, but “The Athletic” clarified that his actual compensation from Miami collectives is slightly above $3 million.
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