Holy Cross' basketball tourney run earns $3.2M

Courtesy Holy Cross will receive over $1 million for its NCAA tournament appearance.

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By Sam Bonacci

Holy Cross’ NCAA March Madness appearance and subsequent win stirred up more than excitement, generating $3.2 million in revenue for the school and the associated Patriot League.

Each year, the NCAA pays out a certain amount to every team for its participation in the NCAA men's basketball tournament. The money comes from the basketball fund, a pool that distributes the lucrative advertising revenue received from the tournament.

Teams earn a payout unit for every game they appear in. Since Holy Cross won its first game in the tournament -- by beat Southern 59-55 -- and then lost its second game, the school earned two units.

Teams receive payouts for the six year following their tournament appearance.This year, participation in a tournament game is worth $265,791, a figure which is expected to grow annually. So, when all the years are added up, an appearance in one tournament game is worth at least $1.59 million.

Since Holy Cross appeared in two games, its tournament earnings will be at least $3.2 million.

However, Holy Cross' conference -- the Patriot League -- actually receives the money and decides how it is dispersed. According to league rules, Holy Cross will keep $1.1 million of its earnings.

Typically, the NCAA encourages the conferences to split the money equally among its schools. Unlike most other conferences, the Patriot League rewards the team making it to the tournament, with 50 percent of the payout for the first game going to Holy Cross.. The money for the second game Holy Cross played will be split into 12 units, with Holy Cross receiving two of those units, the other nine league schools receiving one each and the league keeping one for itself.

The news comes after a five-year deal, worth an undisclosed amount, that will have adidas provide apparel and equipment for all 27 Holy Cross sports teams.