ACC's latest tax filing underscores challenges for new commissioner Jim Phillips

ACC's latest tax filing underscores challenges for new commissioner Jim Phillips

The ACC’s per-school share continues to rank last among the Power Five and lag far behind the Big Ten and Southeastern Conference. As USA Today’s Steve Berkowitz reported Thursday, the Big Ten distributed, on average, $54.3 million to its 12 longest-standing members, the SEC $45.5 million to its 14 schools. Big 12 shares ranged from $37 million to $40.5 million, and the Pacific 12’s average was $33.8 million.

Virginia Tech president Tim Sands echoed Phillips last month when he said the conference’s finances were a focus of the presidents and chancellors’ interviews with commissioner candidates.

“It’s not just the money,” Sands said, “but you can’t [compete] without that kind of support. … That’s a major expectation of the presidents and chancellors. I think we got the right guy.”

Per the various tax filings, Swofford’s $4 million in total compensation was fourth among Power Five commissioners, ahead of the SEC’s Greg Sankey ($2.9 million).

The ACC’s 2019-20 distributions ranged from Clemson’s $37.0 million to Georgia Tech’s $30.9 million. Virginia’s $33.6 million was second to Clemson’s and rooted in the Cavaliers’ Orange Bowl appearance, while Virginia Tech’s $32.2 million was just a tick below the average.

Notre Dame, an ACC member for sports other than football, received $10.8 million, a 58.8% increase over its 2018-19 share. Why a percentage jump more than four times above full members?

ACC revenue last 10 years

* Average share for full-time members

** As a partial member, Notre Dame does not receive a full share

Years	Total	TV	Bowl	NCAA	Avg. share*	Notre Dame**
2010-2011	$167.2M	$79.3M	$36.7M	$18.2M	$12.3M	N/A
2011-2012	$223.6M	$130.5M	$43.8M	$17.7M	$16.9M	N/A
2012-2013	$232.4M	$146.6M	$36.7M	$18.2M	$17.6M	N/A
2013-2014	$302.3M	$197.2M	$48.8M	$17.5M	$19.3M	$4.9M
2014-2015	$403.1M	$217.9M	$94.2M	$18.4M	$26.2M	$6.2M
2015-2016	$337.4M	$226.1M	$85.8M	$20.6M	$23.8M	$4.3M
2016-2017	$418.1M	$236.0M	$113.2M	$24.2M	$26.6M	$5.8M
2017-2018	$464.7M	$277.2M	$114.9M	$56.6M	$29.5M	$7.9M
2018-2019	$455.4M	$288.6M	$88.4M	$59.8M	$28.8M	$6.8M
2019-2020	$496.7M	$332.8m	$125.0M	$22.5M	$32.4M	$10.8M

ACC revenue last 10 years

Revenue gap starts to close in ACC Network’s first year?

Article from the N&O

Revenue gap starts to close in ACC Network’s first year. Here’s what the numbers show.
BY LUKE DECOCK
MAY 21, 2021 05:55 PM
Play VideoDuration 0:52
ACC Commissioner Jim Phillips on his new ties

Listen to new ACC Commissioner Jim Phillips talk about the gifts his family gave him on Christmas to help make sure he didn't have any wardrobe miscues while visiting all the ACC schools. BY ETHAN HYMAN

Money from the ACC Network is starting to tumble into the ACC’s coffers, but the same questions that surrounded the launch of the network remain: Will it be enough? And is it too late?

The ACC’s tax filing from the 2019-20 academic year, provided by the conference on Friday, shows record revenue of $496.7 million for the conference, up from $455.4 million. For the first time, no full member received less than $30 million from the ACC. A good chunk of that comes from broadcast revenue, which jumped 15 percent to $332.8 million over the 10 months since the network’s launch.

That still leaves a large revenue gap with the Big Ten and SEC in particular, one that new commissioner Jim Phillips hopes the ACC can close not only as the network matures but by pushing harder to maximize football revenue.

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“We all understand just the economics of football,” Phillips said last week after the ACC’s annual meetings. “I don’t see the economics changing at all at any time in the future, near or far, relative to the ability to generate resources for your schools and for the conference.”

Or, as he said in more detail in March: “It’s a significant revenue gap. How do we strengthen football in our conference?”


With the increased broadcasting revenue, the ACC managed to increase its average payout per school to $32.3 million -- not counting Notre Dame -- but still lags behind some of its Power 5 peers. Powered by the Big Ten Network, that conference paid its legacy members $54.3 million, according to USA Today.

The SEC hasn’t yet filed its 2019-20 tax form, but it paid its members entitled to a full share between $44.5 million and $47.4 million in 2018-19 and recently announced a one-time bonus payment of $23 million per school to help cover COVID shortfalls.

Big 12 payouts were between $37 million and $40.5 million and the Pac-12 paid its members $33.6 million.

The increased ACC revenue did mean payouts for area schools were up substantially despite the early impact of COVID: North Carolina received $32.3 million from the ACC, up from $28.5 million in 2018-19; Duke received $31.1 million, up from $28.9 million; and N.C. State received $31.0 million, up from $28.5 million.

Those payouts are expected to continue to increase as the ACC Network continues to grow and mature, although next year’s numbers will be skewed dramatically by the pandemic and Notre Dame’s one-year cameo as a full football member. Not until May 2022 will there be a good sense of where the network is taking the ACC.

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“I’d just remind everybody we’re still in the infancy stage,” Phillips said. “I know the history of the Big Ten Network quite well, quite intimately. They had over a decade jump on us and you can see the success of that particular network. We’re bullish on our future as well and feel very strongly we’re headed in a similar kind of direction.”

A separate $46.5 million increase from 2018-19 was expected as the Orange Bowl was not part of the College Football Playoff, as it had been the previous year. But payments from the NCAA dropped $37.4 million due to COVID, and conference tournament revenue was also down slightly because of the cancellation of the 2020 ACC tournament in Greensboro.

For the first time, the ACC disclosed $301,553 in lobbying expenses regarding “issues related to potential legislation regarding student-athletes licensing their name, image and likeness for compensation.” John Swofford made $4 million in his final full year as commissioner.