Jim Phillips spoke to the media on Monday about finances as the ACC opened its media days for the 2024 season. On the heels of adding three new conference members, and a lawsuit pending with Clemson and Florida State, Phillips took time to promote the financial benefits for the member schools.
How Much Money Was Distributed to Member Schools From the ACC, and Can It Grow?
“We expect those numbers to only grow,” was the follow-up from Phillips as he announced that an average of $45 million had been distributed to each school over the past year.
ACC Commissioner Jim Phillips says the league distributed an average of $45 million per school this past year.
“We expect those numbers to only grow.”
Says the ACC is one of the top 3 conferences in revenue earned and earnings distributed.
— Warchant.com (@Warchant) July 22, 2024
Phillips also took the time to mention that the ACC is one of the top three conferences in revenue earned and earnings distributed, a clear signal that the conference is well aware that others are still open for business and potentially poaching members going forward.
The comments from Phillips signal a new era in college athletics, especially after the NCAA agreed to a reported settlement of nearly $2.75 billion as part of the House vs. NCAA class-action lawsuit.
The settlement includes a provision that could potentially create a revenue-sharing model that would allow schools to distribute roughly $20 million per year directly to athletes, a figure that aligns closely with what Phillips claimed is part of the ACC’s success initiative.
Phillips on ACC's success initiative: Through football and men's basketball performance, a school could receive $20-25 million beyond its standard distribution.
— David Teel (@ByDavidTeel) July 22, 2024
As the money questions surrounding college athletics continue to swirl, so does the speculation around realignment. The ACC welcomed in new member schools SMU, Cal, and Stanford this year as part of a race to remain part of the new Power Four conferences and avoid the demise that the Pac-12 faced last offseason.
Following a report from Pete Thamel earlier in the day that there was no expectation for Clemson or Florida State to notify the conference of a departure by the Aug. 15 deadline to exit for the 2025-26 season, Phillips was asked about the February deadline for an opt-out with ESPN.
Phillips on ESPN's Feb opt-out deadline: "Our partnership with ESPN is not going away and we've talked to them about additional resources. … I'm very optimistic about where we're going with them."
— 💫🅰️♈️🆔 (@ADavidHaleJoint) July 22, 2024
The current grant-of-rights provision between the ACC and ESPN is what seems to be holding the conference together. What the additional resources that Phillips referenced might be is anyone’s guess, but the fact that he’s willing to publicly express optimism about the future may suggest the provision may be gaining some incentive as the ever-evolving world of realignment turns.
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