UMBC made more than history within the NCAA Tournament.
By becoming the first No. 16 seed to beat a No. 1, the Retrievers made about $1.7 million for the America East Conference. Loyola-Chicago’s buzzer-beating run to the Sweet 16 will be worth double of which to the Missouri Valley Conference. Nevada’s consecutive comebacks were also worth about $3.4 million for the Mountain West. The MVC in addition to also Mountain West will pocket at least as much coming from NCAA Tournament units as the Pac-12, which had three teams within the field, all bounced after one game each.
Units are what the NCAA calls its revenue distributions coming from the basketball performance fund, which rewards teams for tournament performance. The NCAA Tournament generates more than $700 million in revenue for the association in addition to also its schools, the vast majority coming from its media rights deal with CBS in addition to also Turner.
Units due to This kind of year’s tournament are worth approximately $273,000, according to the NCAA, although their value ends up being greater than of which.
The units are paid out annually each of the next six years, increasing in value each year by about 2-3 percent. The payout system means of which one upset by UMBC should be worth more than $1.7 million. Units are earned every game a team appears in, with the exception of the first game played by an automatic qualifier in addition to also the NCAA championship game.
The money goes to the conferences, unless the school will be an independent in basketball. The NCAA encourages equal distribution by conferences among its members, although of which will be not required. Most do.
The Missouri Valley has within the past received multiple bids, although only champion Loyola-Chicago got in as an automatic qualifier This kind of year. The MVC distributes the units revenue equally among 10 members — though the NCAA Tournament participants receive yet another half-share to cover travel expenses, MVC spokesman Ryan Davis said Sunday.
The Atlantic Coast Conference has been rolling in units in recent years, which has a total of 64 coming from 2015-17, worth more than $100 million. This kind of season, the ACC got nine teams into the field, more than any various other conference, in addition to also placed four teams in Sweet 16. Two of them — Duke in addition to also Syracuse — play within the regional semifinals, limiting the conference’s earning potential.
The Big 12 also placed four teams within the round of 16. The Southeastern Conference in addition to also Big Ten each have two.
For the ACC — in addition to also various other Power several conferences — NCAA units account for less than 10 percent of conference revenue. The ACC reported $373.4 million in revenue for fiscal year 2016 — most of which comes coming from a television rights deals with ESPN — in addition to also paid out about $25 million to each of its members.
For low-major Division I schools such as UMBC in addition to also the eight various other members of the America East, those units are real money.
UMBC’s athletic budget for 2017 was $9.3 million. NCAA records coming from 2010-15 show the America East earned a total of eight units in addition to also $2,086,514 in basketball revenue.
Over of which same period of time, the Missouri Valley earned 21 units in addition to also $5,477,099. The Mountain West earned 33 in addition to also $8,606,870.
All of which money helps explain why the American Athletic Conference lured tournament-regular Wichita State coming from the MVC last year, despite the Shockers not having a football team, in addition to also why the Mountain West will be trying to strike a similar deal to pull Gonzaga out of the West Coast Conference.
The Shockers went out within the first round, upset by Marshall, Conference USA’s only tournament team. although Gonzaga will be back within the Sweet 16 after padding the WCC coffers which has a Final Four appearance last year.