Gamecock WBB Faces $5 Million Annual Loss: Why South Carolina Accepts It — For Now

Financial Disparities Between Men’s and Women’s Sports at South Carolina: A Look at the Numbers

As March Madness kicks off, the financial divide between men’s and women’s college sports continues to be a topic of discussion. The revenue from media rights deals plays a significant role in this divide, with the men’s NCAA basketball tournament bringing in much more revenue compared to its women’s counterpart.

Each time an SEC men’s team plays in the tournament, like Alabama facing BYU on Thursday night, every SEC school earns 1/16th of a unit—equivalent to $131,250. This unit comes from the nearly $1 billion TV deal with CBS and Turner Sports, a deal that’s been in place for years. Over the course of six years, the unit distribution adds up to $2.1 million per team, benefiting the conference as a whole.

In contrast, the women’s NCAA basketball tournament is valued much lower. The eight-year media rights agreement between the NCAA and ESPN, worth $65 million annually, results in a unit worth about $115,000—only around $7,000 per SEC school. This disparity highlights the difference in media attention and revenue generation between men’s and women’s basketball.

Additionally, the SEC’s massive media rights deal with ABC/ESPN, worth $3 billion over 10 years, started this summer, though the full effects on women’s sports remain unclear. In FY24, prior to this new deal, South Carolina’s athletics department generated nearly $37 million from media rights. This revenue was distributed across various programs, but notably, no media rights money was allocated directly to the women’s basketball program at South Carolina, as confirmed by the university’s financial report.

Here’s a look at the 2024 financials for South Carolina athletics:

Program Finances (FY24: July 1, 2023 – June 30, 2024)

• Football: Revenue: $78.5M | Expenses: $47.6M | Profit: $30.9M
• Men’s Basketball: Revenue: $13.4M | Expenses: $9.9M | Profit: $3.5M
• Women’s Basketball: Revenue: $5.9M | Expenses: $11.5M | Loss: -$5.6M
• Baseball: Revenue: $4.7M | Expenses: $7.4M | Loss: -$2.7M
• Women’s Track & Field/Cross Country: Revenue: $816K | Expenses: $4.1M | Loss: -$3.2M
• Men’s Track & Field/Cross Country: Revenue: $529K | Expenses: $2.4M | Loss: -$1.9M
• Women’s Swim & Dive: Revenue: $451K | Expenses: $2.2M | Loss: -$1.8M
• Equestrian: Revenue: $368K | Expenses: $2.7M | Loss: -$2.3M
• Men’s Soccer: Revenue: $347K | Expenses: $1.8M | Loss: -$1.5M
• Softball: Revenue: $310K | Expenses: $2.7M | Loss: -$2.4M
• Men’s Swim & Dive: Revenue: $246K | Expenses: $1.6M | Loss: -$1.3M
• Women’s Soccer: Revenue: $214K | Expenses: $2.4M | Loss: -$2.2M
• Volleyball: Revenue: $200K | Expenses: $2.1M | Loss: -$1.9M
• Women’s Golf: Revenue: $146K | Expenses: $1.3M | Loss: -$1.1M
• Women’s Tennis: Revenue: $111K | Expenses: $1.3M | Loss: -$1.2M
• Men’s Tennis: Revenue: $98K | Expenses: $1.5M | Loss: -$1.4M
• Beach Volleyball: Revenue: $80K | Expenses: $1.0M | Loss: -$947K
• Men’s Golf: Revenue: $78K | Expenses: $898K | Loss: -$820K

As we see from the figures above, South Carolina women’s basketball is operating at a significant deficit, losing over $5.6 million despite the success and popularity of the program. This financial gap highlights the ongoing issue in women’s sports, where media revenue and investment remain far behind their male counterparts, affecting everything from resources to team support.

As the season progresses, the disparity in funding and media attention between men’s and women’s college sports remains a topic that needs continued attention. The financial strain on women’s programs, particularly women’s basketball, reflects the broader issues of equity in sports and highlights the challenges that still need to be addressed.