UNC’s $20.5 million in revenue sharing will go to athletes in four sports, mostly football and men’s basketball

By R.L. Bynum

UNC will share $20.5 million in revenue with athletes, with the majority of it allocated to football and men’s basketball, and some to women’s basketball and baseball. Additionally, the number of scholarships will increase.

UNC athletics director Bubba Cunningham made the announcement on Monday, adding that the revenue-sharing number will increase by 4% annually and that the division of funds will be evaluated annually.

“This is a significant evolution that will change our department’s financial model while providing greater financial opportunities for Tar Heel student-athletes,” Cunningham said in a statement. “At Carolina, we have been preparing for these changes for more than a year. We are fully committed to adapting to this new era and continuing to create outstanding championship experiences for our student-athletes across our 28-sport, broad-based program.”

The amount for each sport wasn’t specified, although the terms of Coach Bill Belichick’s contract, signed in December, indicate that football will get $13 million.

Matt Brown of Extra Points reported last week that spending for UNC women’s basketball was outpaced by that of California, Georgia Tech, Mississippi State, and Oregon State, among others.

According to WRAL’s Brian Murphy, four sports being included in revenue sharing is tied with Ohio State for the fewest.

When Judge Claudia Wilken approved the House vs. NCAA settlement on June 6, it ended a five-year class-action lawsuit and allowed schools to pay their athletes.

Since the settlement removes scholarship limits, UNC will go from 338 scholarships for its 28 sports to 532. Cunningham said that it will “greatly strengthen” the athletics program and the athletic experience.

UNC athletes will continue to benefit from NIL opportunities from third parties, and that will be separate from revenue sharing.

Cunningham said that he expects the $150 million budget for the next year to grow by $30 million for the next academic year. UNC will hire a Chief Revenue Officer to investigate and initiate revenue opportunities, including naming rights, field sponsorships and jersey patches.

Photo courtesy of UNC Athletics