Smith County allocated $1,768,004 to men’s collegiate basketball teams in 2024, a figure that marks a 44.5% increase compared to the prior year, according to the U.S. Department of Education.
Basketball programs across the county received a combined total of $3,282,323, with men’s teams accounting for $1,768,004 of that sum.
Sports spending in Smith County has climbed 238.4% on average since 2010.
As one of the most popular college sports in the United States, basketball enjoys significant support from fans and TV audiences, rivaling football and even professional basketball leagues like the NBA. High-profile events such as March Madness consistently draw millions of viewers each year.
College sports have seen major changes to athlete compensation after a federal settlement enabled schools to share revenue with student-athletes directly for the first time. The settlement also stipulates that the NCAA will pay $2.8 billion in back damages over the next decade to athletes who participated from 2016 onward.
Athletes also secured the ability to earn income from their names, images, and likenesses in 2022, following sustained legal and legislative actions and a change in NCAA policy, as detailed here.
During fiscal year 2024, the NCAA brought in about $900 million from March Madness and other Division I men’s basketball tournament media rights, making the sport the NCAA’s predominant source of income.
| Year | Basketball team’s expenditures | % from grand total sport team expenditures | Total Sport Team Expenditures |
|---|---|---|---|
| 2024 | $1,768,004 | 9.8% | $18,121,833 |
| 2023 | $1,223,667 | 8.3% | $14,726,001 |
| 2022 | $1,143,177 | 8.6% | $13,251,719 |
| 2021 | $894,586 | 8.9% | $10,096,089 |
| 2020 | $955,772 | 8.5% | $11,308,931 |
