By: Jon Solomon | firstname.lastname@example.org
DESTIN, Fla. -- The SEC announced today a record-high $289.4 million distribution to its 14 members for 2012-13, an average of $20.7 million per member.
This was the first year for Texas A&M and Missouri, and the 19-percent increase in total revenue distribution from 2011-12 includes new television revenue due to expansion. The SEC's revenue distribution total had increased by 11 percent between 2011 and 2012 prior to the new schools.
The average payout for schools is slightly up from last year. The SEC announced an average payout last year of $20.1 million, and tax records show the actual amount was $20.4 million. The $289.4 million announced today does not include about $15 million retained by the schools for bowl participation and an NCAA academic grant.
"We passed out a bit of money to folks," SEC Commissioner Mike Slive said. "We hope to be able to tell you that every year from here on out. You must remember that we're dividing by 14, so that's a pretty healthy number."
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