The Big Ten football has got one over the SEC, and they did it in a historic manner, all thanks to Ohio State and the Michigan Wolverines. Word is, the conference is hitting a record-shattering $1.47 billion in revenue and distributing nearly $1.37 billion back to its members for the 2024–25 fiscal year.

To put that in perspective, that’s a monstrous 58% jump from the $928 million they pulled in just a year prior. After everyone took out their little cuts, the conference cut checks totaling $1.37 billion back to the schools. Even with more mouths to feed, the Big Ten is pulling further ahead of the SEC, which “only” managed to distribute $1.03 billion to its members in the same period.

The main reason for this mountain of cash is the launch of the conference’s $7.5 billion media deal with FOX, CBS, and NBC. This was the first year CBS was fully freed from its old SEC obligations. They could finally air 15+ Big Ten games alongside NBC’s primetime slots and FOX’s “Big Noon” juggernaut. On top of that, the 12-team College football Playoff expansion was the cherry on top, and Big Ten members seem to have found that cherry for the last three years.

Conferences now snag $4 million for every team that makes the bracket, another $4 million for reaching the quarterfinals, and $6 million for the semifinals. At this point, the Big Ten and SEC are commanding 58% of all CFP revenue. They have literally built a financial fortress that the other conferences can’t even touch whatsoever.

However, disbursements are not equal across all 18 schools. The Big Ten utilizes a vested system for new members. Ohio State got the most money with $91.55 million. Next in line comes Penn State with $88.9 million, and Indiana $81 million, all thanks to their head coach, Curt Cignetti. The other 13 teams each got somewhere around between $76 million and probably $79 million.

The rest 2 not fully vested programs, Oregon and Washington, got less money because they are still on partial shares until around 2030. Oregon bagged $48 million and Washington got $46 million. The reason for Oregon’s extra $2 million is because they played in the playoffs. It’s a bit of a “pay-your-dues” system, but even a half-share in the Big Ten is more than they were making in the old Pac-12.

The downside to it

Surprisingly, having $1.47 billion doesn’t mean these schools are actually “profitable.” In fact, the total spending across the league’s 16 public departments hit $3.126 billion. This leaves the group as a whole in a slight $8 million deficit. Why? Because the bills are insane. Ohio State reported a $38 million deficit despite its record revenue, and Michigan needed an extra $15 million just to break even.

Coaching salaries are hitting the moon, schools like Penn State and Rutgers are shelling out over $20 million for their staffs. The travel costs for those coast-to-coast flights added an average of $3 million to every team’s budget.

Looking ahead, the Big Ten is flirting with a move that sounds more like Wall Street: a $2.44 billion private equity deal with UC Investments. The plan is to create “Big Ten Enterprises” and sell a 10% stake in it for an immediate cash injection. For some reason and lack of agreement, the plan’s on the hold. However, if it goes through, Ohio State, Michigan, and Penn State would get an instant $190 million each. The smaller schools would walk away with roughly around about $110 million.

Some schools are nervous about “selling their soul” for quick cash. Even the University of Michigan regents have slammed it as a “payday loan” that trades away long-term value for a short-term fix. Knowing this is no such thing as enough money where this sport is heading, only time will tell whether the Big 10 will get all 18 members on the same page.