Of the 64 teams in the NCAA Division I women's basketball tournament, Stanford is No. 1 for how much money it makes, grossing more than $21.4 million – or $1.5 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 women's basketball programs. In all, they grossed more than $900 million in 2016. Less than a quarter of that – $153 million – belongs to the teams in the tournament.
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March Madness: Women's college basketball revenue
| School | Total Undergraduates | Women's basketball players | Women's basketball revenue | Revenue per athlete | |
| 1 | Stanford University | 7,032 | 14 | $21,440,365 | $1,531,455 |
| 2 | University of Connecticut | 18,538 | 12 | $9,032,881 | $752,740 |
| 3 | Baylor University | 14,087 | 31 | $7,568,184 | $244,135 |
| 4 | Florida State University | 29,051 | 15 | $6,981,167 | $465,411 |
| 5 | University of Miami | 10,102 | 23 | $4,836,983 | $210,304 |
| 6 | Mississippi State University | 16,134 | 14 | $4,731,482 | $337,963 |
| 7 | University of Virginia | 15,420 | 30 | $4,273,169 | $142,439 |
| 8 | The University of Tennessee | 20,719 | 25 | $3,944,384 | $157,775 |
| 9 | University of Oklahoma | 18,218 | 25 | $3,703,885 | $148,155 |
| 10 | Duke University | 6,449 | 13 | $3,605,428 | $277,341 |
| 11 | University of Missouri-Columbia | 24,060 | 14 | $3,541,721 | $252,980 |
| 12 | Oregon State University | 18,395 | 21 | $3,519,817 | $167,610 |
| 13 | Gonzaga University | 5,029 | 18 | $3,503,396 | $194,633 |
| 14 | Marquette University | 7,919 | 21 | $3,431,882 | $163,423 |
| 15 | DePaul University | 13,126 | 14 | $3,057,956 | $218,425 |
| 16 | University of South Florida | 23,603 | 15 | $2,821,037 | $188,069 |
| 17 | Villanova University | 6,469 | 24 | $2,701,148 | $112,548 |
| 18 | The University of Texas at Austin | 37,026 | 33 | $2,689,305 | $81,494 |
| 19 | George Washington University | 10,343 | 13 | $2,594,860 | $199,605 |
| 20 | Quinnipiac University | 6,784 | 16 | $2,575,530 | $160,971 |
| 21 | University of South Carolina-Columbia | 23,947 | 29 | $2,046,234 | $70,560 |
| 22 | Syracuse University | 14,324 | 19 | $1,808,153 | $95,166 |
| 23 | Liberty University | 27,100 | 17 | $1,801,761 | $105,986 |
| 24 | Creighton University | 3,970 | 15 | $1,788,900 | $119,260 |
| 25 | Seattle University | 4,463 | 16 | $1,778,047 | $111,128 |
| 26 | Western Kentucky University | 12,967 | 14 | $1,709,659 | $122,119 |
| 27 | Elon University | 5,854 | 12 | $1,707,578 | $142,298 |
| 28 | American University | 6,981 | 16 | $1,650,501 | $103,156 |
| 29 | Belmont University | 5,925 | 23 | $1,647,069 | $71,612 |
| 30 | Mercer University | 4,012 | 14 | $1,545,815 | $110,415 |
| 31 | Drake University | 3,091 | 22 | $1,540,021 | $70,001 |
| 32 | University at Buffalo | 18,732 | 14 | $1,518,866 | $108,490 |
| 33 | University of Wisconsin-Green Bay | 4,042 | 13 | $1,512,854 | $116,373 |
| 34 | Saint Francis University | 1,540 | 16 | $1,498,820 | $93,676 |
| 35 | University of Nebraska-Lincoln | 19,381 | 23 | $1,474,287 | $64,099 |
| 36 | Florida Gulf Coast University | 10,809 | 15 | $1,430,374 | $95,358 |
| 37 | Central Michigan University | 17,077 | 22 | $1,400,552 | $63,661 |
| 38 | South Dakota State University | 8,442 | 15 | $1,379,137 | $91,942 |
| 39 | University of Maryland-College Park | 26,174 | 14 | $1,373,321 | $98,094 |
| 40 | Princeton University | 5,236 | 16 | $1,369,574 | $85,598 |
| 41 | University of Maine | 8,082 | 17 | $1,332,831 | $78,402 |
| 42 | California State University-Northridge | 29,056 | 14 | $1,326,324 | $94,737 |
| 43 | University of Louisville | 12,325 | 15 | $1,283,617 | $85,574 |
| 44 | University of Dayton | 7,867 | 15 | $1,253,719 | $83,581 |
| 45 | University of Northern Colorado | 8,242 | 13 | $1,184,302 | $91,100 |
| 46 | North Carolina A & T State University | 8,657 | 16 | $1,157,586 | $72,349 |
| 47 | Texas A & M University-College Station | 44,975 | 31 | $1,097,933 | $35,417 |
| 48 | North Carolina State University at Raleigh | 20,818 | 14 | $1,056,295 | $75,450 |
| 49 | Ohio State University | 41,666 | 26 | $974,803 | $37,492 |
| 50 | University of California-Los Angeles | 30,329 | 30 | $933,382 | $31,113 |
| 51 | University of Iowa | 20,690 | 21 | $912,427 | $43,449 |
| 52 | University of Minnesota | 28,782 | 39 | $873,842 | $22,406 |
| 53 | University of Georgia | 26,252 | 12 | $860,481 | $71,707 |
| 54 | Arizona State University-Tempe | 38,761 | 45 | $797,215 | $17,716 |
| 55 | Nicholls State University | 4,585 | 14 | $787,866 | $56,276 |
| 56 | University of Oregon | 18,309 | 23 | $732,760 | $31,859 |
| 57 | Grambling State University | 3,597 | 14 | $654,707 | $46,765 |
| 58 | Oklahoma State University | 18,330 | 17 | $537,336 | $31,608 |
| 59 | University of California-Berkeley | 28,107 | 20 | $476,890 | $23,845 |
| 60 | University of Michigan | 27,833 | 43 | $407,722 | $9,482 |
| 61 | Boise State University | 12,350 | 17 | $367,353 | $21,609 |
| 62 | Notre Dame College | 1,247 | 20 | $354,288 | $17,714 |
| 63 | University of Arkansas at Little Rock | 4,424 | 15 | $330,562 | $22,037 |
| 64 | Louisiana State University | 23,036 | 13 | $327,732 | $25,210 |
Source: U.S. Department of Education Office of Postsecondary Education
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