SEC schools received sizable pay increase last year

Southeastern Conference commissioner, Greg Sankey, speaks during an interview with The Associated Press, Monday, May 23, 2016, in Birmingham, Ala. (AP Photo/Brynn Anderson)

— The Southeastern Conference increased its average payout to member schools by 23.5 percent in fiscal year 2015-16, according to figures released Thursday by the conference office.

Each SEC program received an average payout of more than $40.4 million from the conference, up from an average of $32.7 million per program the year before.

An additional $18.3 million was distributed to programs that played in a bowl game to offset bowl trip expenses. Including bowl reimbursements, the revenue shared with SEC teams in 2015-16 totaled $584.2 million, according to the league office.

In 2014-15, the league shared $475.8 million before bowl reimbursements. The SEC's fiscal year ends Aug. 31.

The funds are an accumulation of revenue generated from the SEC's TV agreements, bowl game affiliations, participation in the College Football Playoff, NCAA postseason tournaments, the SEC Football Championship Game and the SEC Men's Basketball Tournament.