SEC rakes in $314.5 million in 2012-13, loses money
- by Zach Barnett 3 months ago
Expanding its borders westward had immediate dividends for the SEC, as USA Today reported Wednesday that the conference raked in $314.5 million in revenue for the 2012-13 fiscal year. That was up $41 million from the previous year. The big change, of course, was the addition of Texas A&M and Missouri, pushing SEC membership to 14.
The conference reported expenses of $317.9 million for the year, resulting in a net "loss" of $3.4 million for the fiscal year. No one likes losing money, but the conference shouldn't be too considered considering: A) It had a reserve of more than $46 million to cover the losses, and B) something called SEC Network arrives in August...oh and by loses money they mean distributed more to the member universities than they took in. No, that really isn't a loss but hey...
The SEC actually finished second among its peers in total revenue, trailing the Big Ten by a measly $1 million. The SEC did, however, far outpace its next closest competitors, as the most recent tax returns indicate for the ACC ($223.3 million) and Pac-12 ($175.9 million).
For the 2012 calendar year, commissioner Mike Slive earned $1.246 million, behind ACC commissioner John Swofford ($1.6 million), Pac-12 commissioner Larry Scott ($1.575 million) and Big Ten commissioner Jim Delany ($1.3 million). Executive associate commissioners Greg Sankey (chief operating officer) and Mark Womack (chief financial officer) were the next highest-paid SEC employees at $375,000 apiece.