Reports: Big Ten Conference made $880 million in revenue during 2023

The Big Ten Conference totaled $880 million in revenue during the 2023 fiscal year, according to multiple reports.

According to Daniel Libit of Sportico, tax reports show the Big Ten took in the $880 million figure between July 1, 2022, and June 30, 2023.

The Big Ten distributed “about $60.5 million” to the 12 longest-tenured members in the conference, according to Steve Berkowitz of USA TODAY. Maryland and Rutgers received “about $2 million less” than the other 12 members of the Big Ten.

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The Big Ten’s revenue earnings allow it to pass the Southeastern Conference for most revenue among college conferences, and the SEC had $853 million in revenue in fiscal year 2023, according to Sportico. The SEC distributed “an average of about $51.3 million” to each of its 14 members.

The Big Ten spent, including its distributions to member programs, “just over $897 million” in 2023 and “operated at a deficit of just over $17.5 million for the year, but still had net assets totaling $247 million,” according to USA TODAY.

Despite retirement in 2020, former commissioner Jim Delaney was the Big Ten’s “highest-paid employee” having received $5.8 million from retirement or deferred compensation and bonus or incentive compensation, according to Sportico. Delaney remains on the conference’s payroll as an outside consultant.

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The Big Ten entered a new media rights deal it signed in 2022 worth nearly $7 billion. It reached agreements with CBS, FOX, NBC, NBCUniversal’s Peacock, Big Ten Network and FS1 and will continue through the 2029-30 season.

Now over a year into its new media agreement, the Big Ten will likely see the beginnings of its impact financially. For comparison on revenue between fiscal years 2023 and 2022, the $880 million last year “represent about a 4% increase in total revenue and a nearly 3% increase in per-school payouts” according to USA TODAY.

The Big Ten also saw Tony Petitti take over after Kevin Warren as conference commissioner in May 2023, and Petitti’s pay was not reported because the report only covered the 2022 calendar year, according to USA TODAY.