March Madness money: How do tournament teams rank?

Of the 68 teams in the NCAA Division I men's basketball tournament, Duke is No. 1 for how much money it makes, grossing more than $34 million – or $2.1 million per player – in 2016, according to a Higher Education Tribune analysis of the latest federal data.

The U.S. Department of Education Office of Postsecondary Education compiles athletics data annually from more than 2,000 schools receiving federal financial aid.

More than 1,900 of those schools have men's basketball programs. In all, they grossed more than $2 billion in 2016. Nearly a third of that – $620 million – belongs to the teams in the tournament. 

Syracuse University grossed $29 million, followed by University of Kentucky ($28 million), Indiana University ($25 million) and University of Arizona ($23 million)

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March Madness: Men's college basketball revenue


SchoolTotal undergraduatesMen's basketball playersMen's basketball revenueRevenue per athlete
1Duke University6,44916$34,398,285$2,149,893
2Syracuse University14,32419$29,322,084$1,543,268
3University of Kentucky20,77215$27,965,227$1,864,348
4University of Arizona29,04915$23,434,825$1,562,322
5University of North Carolina at Chapel Hill17,82818$21,408,475$1,189,360
6The University of Tennessee-Knoxville20,71916$18,322,729$1,145,171
7University of Kansas16,98715$18,266,319$1,217,755
8Ohio State University41,66613$18,250,063$1,403,851
9The University of Texas at Austin37,02614$17,567,914$1,254,851
10Michigan State University35,28018$17,548,611$974,923
11University of Michigan27,83317$16,913,194$994,894
12University of Arkansas19,77414$16,332,876$1,166,634
13The University of Alabama29,07115$15,003,656$1,000,244
14North Carolina State University at Raleigh20,81817$14,611,434$859,496
15University of Florida30,58314$14,200,425$1,014,316
16University of California-Los Angeles30,32915$13,416,856$894,457
17Florida State University29,05118$13,252,028$736,224
18University of Oklahoma18,21816$13,190,742$824,421
19Texas Christian University8,59116$12,889,761$805,610
20Xavier University4,29217$12,707,109$747,477
21Gonzaga University5,02917$12,131,756$713,633
22Villanova University6,46915$11,120,378$741,359
23Clemson University17,84915$11,103,355$740,224
24University of Miami10,10213$10,868,814$836,063
25Purdue University29,30114$10,171,629$726,545
26University of Missouri-Columbia24,06015$10,065,698$671,047
27Auburn University20,26021$9,900,612$471,458
28Virginia Tech25,17516$9,428,524$589,283
29Kansas State University17,56217$9,192,918$540,760
30Providence College3,76814$9,081,267$648,662
31Texas A & M University-College Station44,97516$8,905,402$556,588
32University of Virginia15,42017$8,555,125$503,243
33Texas Tech University26,58816$8,005,272$500,330
34Arizona State University-Tempe38,76116$7,693,224$480,827
35Creighton University3,97016$7,665,992$479,125
36Wichita State University8,56617$7,426,190$436,835
37University of Cincinnati21,44514$6,970,262$497,876
38West Virginia University20,52415$6,846,053$456,404
39San Diego State University26,53017$6,453,937$379,643
40Butler University4,17114$6,198,953$442,782
41Seton Hall University5,48415$6,011,447$400,763
42University of Nevada-Reno15,39016$5,653,559$353,347
43University of Rhode Island12,42215$4,832,740$322,183
44University of Houston25,39913$4,750,737$365,441
45St Bonaventure University1,58915$3,449,008$229,934
46Murray State University6,91612$3,114,154$259,513
47Wright State University9,58215$3,050,260$203,351
48Loyola University Chicago10,26119$2,821,576$148,504
49Davidson College1,79117$2,594,894$152,641
50Bucknell University3,52513$2,544,585$195,737
51Iona College3,06615$2,514,963$167,664
52Marshall University7,91717$2,512,872$147,816
53College of Charleston9,47015$2,422,777$161,518
54Georgia State University19,06215$2,421,793$161,453
55New Mexico State University-Main Campus9,82519$2,391,115$125,848
56Radford University8,09117$2,325,900$136,818
57University at Buffalo18,73215$2,214,350$147,623
58LIU Brooklyn3,74915$1,950,050$130,003
59Stephen F Austin State University9,57115$1,832,582$122,172
60University of Pennsylvania10,23119$1,798,822$94,675
61California State University-Fullerton27,92515$1,685,827$112,388
62South Dakota State University8,44214$1,656,066$118,290
63The University of Montana7,78916$1,645,038$102,815
64Lipscomb University2,65115$1,625,556$108,370
65University of North Carolina at Greensboro13,90418$1,567,728$87,096
66University of Maryland-Baltimore County9,47413$1,548,500$119,115
67Texas Southern University5,77617$1,429,460$84,086
68North Carolina Central University5,23819$931,046$49,002

Source: U.S. Department of Education Office of Postsecondary Education

Organizations in this story


Butler University Duke University Florida State University Loyola University Chicago Radford University University of Alabama University of Arkansas University of Rhode Island

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