NCAA moves closer to financially rewarding women’s basketball teams that reach March Madness

NCAA Womens Basketball: Final Four National Championship-Iowa vs South Carolina

Women’s basketball teams moved a step closer Tuesday to getting financially rewarded for success in the NCAA Tournament.

The Division I Board of Directors voted unanimously to introduce a proposal that will give performance units to teams that play in March Madness. Units represent revenue.

The proposal goes to the NCAA’s Board of Governors later this week to approve the allocation of funds, but approval is considered a formality. If approved by Division I membership in January, the plan would begin with the 2025 tournament.

“This is a momentous day, and the Division I Board of Directors Finance Committee is proud to have led the efforts that brought us to the introduction of this proposal,” said Houston Davis, president at Central Arkansas and chair of the committee. “If approved in January, these funds will again advance the NCAA’s efforts to support gender equity and continue investment in the sport of women’s basketball.”

The NCAA sharing March Madness revenue with its membership has long been a feature of the men’s tournament. The 2018 tournament, for example, brought in $844.3 million in television and marketing rights, the vast majority from a contract with CBS and Turner Sports to televise the games. The latest extension of that deal is worth $8.8 billion over eight years, starting this year.

Most of the money flows through the NCAA to conferences and then back to its member schools, more than 300 of which field Division I basketball teams eligible to play in the tournament. The schools mostly re-invest in athletics, from scholarships for athletes in all sports — though not salaries — to coaching salaries, training facilities, stadiums, ballparks and arenas.

The lack of a units system for the women’s tournament has been a point of sharp criticism.

What helped push it through now is the NCAA’s new media rights deal with ESPN that includes many women’s championships….

Source link : https://sports.yahoo.com/ncaa-moves-closer-financially-rewarding-015316782.html

Author : NBC Sports

Publish date : 2024-08-07 01:53:16

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