FSU received $38.6 million in annual revenue payout from ACC

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Florida State received $38.6 million in annual revenue payout from the ACC, all part of a record $616.98 million the league distributed among its 14 full-member institutions and Notre Dame.

According to tax documents for the 2021-22 fiscal year obtained by the Sentinel Friday, the conference saw a 6.7% increase in revenue from the previous year when the league posted $578.30 million.

The ACC ranks third among Power Five conferences in revenue for FY 2021-22, according to USA Today’s Steve Berkowitz, behind the Big Ten ($845.6 million), SEC ($802 million) and ahead the Pac-12 ($581 million) and the Big 12 ($480.6 million).

The league distributed an average of nearly $39.5 million per school, an increase of 9% compared to the prior year. Distribution figures vary from school to school, with over $41 million to over $37 million.

Pittsburgh, which claimed the 2021 football championship, led the way with $41.28 million, followed by Louisville ($40.37 million), Virginia Tech ($40.36 million), N.C. State ($40.17 million), North Carolina ($40.13 million), Clemson ($39.67 million), Boston College ($39.42 million), Wake Forest ($39.27 million), Virginia ($38.98 million), Miami ($38.91 million), Duke ($38.83 million), Florida State ($38.61 million), Syracuse ($38.29 million) and Georgia Tech ($37.96 million).

Notre Dame, which plays all its sports except football in the ACC, received a partial revenue share of $17.37 million.

The ACC ranks fourth among the Power Five conferences when it comes to average revenue distribution per school according to the USA Today report, behind the Big Ten ($58.8 million with slightly less going to Nebraska, Maryland and Rutgers), SEC ($49.9 million), Big 12 ($42 million to $44.9 million) and slightly ahead of the Pac-12 ($37 million).

FSU’s revenue payout increased 7% from the previous year ($35.94 million in 2020-21) and a 28% increase from the $27.71 million it received in 2019-20.

The latest figures come two days after the conference wrapped up somewhat contentious spring meetings in Amelia Island, where some athletic directors voiced their concerns over the growing revenue gap between the ACC and the Big Ten/SEC.

FSU was reportedly among seven schools that recently met with lawyers to examine the ACC’s grant of rights which runs through 2036. Also included in the group was Clemson, Miami, North Carolina, N.C. State, Virginia, Virginia Tech.

Florida State AD Michael Alford was among the first to publicly address those concerns during a board of trustees meetings in February, warning school officials that the Seminoles would fall farther behind the Big Ten and SEC.

The Big Ten signed a media-rights deal last year with NBC, CBS and Fox worth $1 billion annually through the next seven years. The SEC‘s agreement with ESPN and ABC runs through 2034 and is worth $811 million annually.

The Big 12 reached an agreement with ESPN/ABC/FOX worth $380 million annually through 2031 while the Pac-12 is negotiating a new deal.

Under those contracts, the SEC is projected to distribute an average of $105.3 million per school while the Big Ten would distribute $94.5 million, according to a report by Navigate last year. It also shows the ACC would be fourth among the Power Five conferences with $55.3 million.

ACC commissioner Jim Phillips dismissed any idea that these reports were anything new and acknowledged those concerns center around recent conference expansion. He said it’s a topic every institution and conference in the country is discussing.

“That’s not a warning sign,” Phillips said at the end of the meetings. “These schools are under a lot of stress and pressure, and I understand that. The reality is our conference is third in the country in distribution. As we look at the projections, at least in this decade, we will continue to be there.

“We want to close the gap and we need to close the gap between the top two conferences who’ve started to run away from us.”

The league is moving closer to a new revenue distribution model, with a plan being presented to its Board of Directors next week.

The ACC received $443.74 million as part of its media rights deal with ESPN, a 12% increase from the previous year’s $397.41 million. It’s the third full year of the ACC Network, which began full distribution in December 2021.

The league also received $90 million in postseason bowl payouts. However, since the Orange Bowl, which is the ACC’s contract bowl, hosted the College Football Playoff semifinals, the conference didn’t receive its usual $25 million payout. It also received $65.54 million from the NCAA and $15.51 million from conference championships.

The ACC doesn’t own any of the school’s marketing or merchandise rights, so the league’s revenue distribution to each institution does not include additional revenue from a school’s multimedia deals.

This article first appeared on OrlandoSentinel.com. Email Matt Murschel at mmurschel@orlandosentinel.com or follow him on Twitter at @osmattmurschel.