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Akron Reporter

Wednesday, December 18, 2024

Summit County’s institutions spent $3,324,785 on men’s basketball teams in 2023

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Gary L. Miller, Ph.D., President | University of Akron Main Campus

Gary L. Miller, Ph.D., President | University of Akron Main Campus

Summit County spent $3,324,785 on men’s collegiate basketball teams in 2023, representing a 36.6% increase from the previous year, according to the U.S. Department of Education.

Overall, basketball teams in the county received a total of $4,984,167, with the men’s team receiving $3,324,785.

Since 2010, the average sports expenses in Summit County have grown 22.9%.

Basketball is one of the most popular sports played at U.S. colleges, as well as football. NCAA basketball teams are often as popular as NBA teams, and offer a different experience for fans.

In 2022, after a decades-long fight, student-athletes nationwide gained the right to profit from their names, likenesses, and images as a result of a flurry of new state laws and an NCAA policy change.

The basketball fund received around 168.57 million dollars from NCAA revenue in 2020–21.

Men’s Basketball Team's Expenditures of Summit County Over Last 5 Years
YearBasketball team's expenditures% from grand total sport team expendituresTotal Sport Team Expenditures
2023$3,324,78511.8%$28,265,821
2022$2,433,9279.6%$25,335,181
2021$2,106,86410.2%$20,709,227
2020$2,990,9849.3%$32,255,907
2019$3,045,1158.6%$35,554,930

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