SANDESTIN, Florida -– The Southeastern Conference announced on Friday, May 29, that SEC Commissioner-Select Greg Sankey (pictured) will assume the role of SEC Commissioner effective Monday, June 1. SEC Commissioner Mike Slive announced his decision to transition his responsibilities to Sankey as the league’s annual Spring Meetings officially concluded.
Slive will remain with the SEC in an advisory role through the length of his contract, which expires on July 31. As previously announced by the SEC, Slive will begin his role as a consultant to the SEC for a period of four years, beginning August 1.
Slive was honored throughout the week at SEC Spring Meetings, culminating with the retiring Commissioner addressing the league membership a final time to close the annual awards banquet on Thursday evening.
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Outgoing Commissioner Slive announced Friday, May 29, that approximately $455.8 million of total distributions will be divided among the 14 institutions of the Southeastern Conference. The distributions are calculated based on the revenue sharing plan for the 2014-15 fiscal year which ends August 31, 2015.
The total distribution of $455.8 million is the highest in SEC history. The total includes $436.8 million distributed from the conference office, as well as $19.0 million dollars of revenue retained by institutions that participated in 2014-15 bowl games.
The average amount distributed from the conference office, excluding bowl money retained by participants, is slightly over $31.2 million per school.
“The ability to provide a significant distribution of revenue is more critical than ever for our institutions as they offer more financial and educational benefits to current and former student-athletes,” said Slive. “Beginning this year, our schools will fund new costs associated with providing scholarships based on full cost of attendance, enhance lifetime educational opportunities to former student-athletes and they are developing new facilities such as athletic nutrition centers to the benefit of student-athletes.”
Slive emphasized the importance that conference revenue distribution plays in offering scholarship opportunities to student-athletes in a wide array of women’ s and men’s sports and the continued ability to compete for championships in those sports. With more than 6,500 student-athletes receiving financial aid on an annual basis in 21 sports sponsored by the SEC, conference schools have won 81 national titles in 19 different sports in Slive’s 13 years as commissioner.
“This increased revenue is important for our athletics programs to continue to fully support broad-based athletics programs for both male and female student-athletes and to give them the opportunity to compete at the highest level, both in the classroom and in competition,” Slive said.
The total distribution amount is comprised of revenue generated from television agreements, post-season bowl games, the College Football Playoff, the SEC Football Championship, the SEC Men’s Basketball Tournament, NCAA Championships and a supplemental surplus distribution.
The distribution amount does not include approximately $1 million of academic enhancement payments that is paid directly from the NCAA and divided among the 14 member institutions. Revenues derived by member institutions from their local media packages are also not included in the total amount.
Photo by Jamie H. Vaught