Four Teams, Millions Spent: The Price of March Glory

Good morning,

Thanks for reading NIL Wire today. I have a fun story today detailing the budgets of the four teams that advanced to the men’s Final Four. Hope everyone enjoys the financial data and the story it tells.

— Kyle

The Final Four is set, and Indianapolis is about to get very expensive.

Arizona, UConn, Illinois and Michigan aren’t just four of the best teams in the country — they’re four of the deepest pockets in college basketball. This weekend’s semifinal matchups are clashes of talent and a collision of programs that have spent heavily to get there. 

The most recent MFRS reports from last season (available in the Extra Points Library!) give us a window into how much this quartet is pouring into their basketball operations. Arizona came in third nationally with $22.6 million in total operational expenses, behind only Indiana and Tennessee. UConn is close behind at fifth ($21.6 million), with Illinois 12th ($18.6 million) and Michigan 25th ($14.4 million). And remember: those numbers don't include athlete revenue share payments.

Pete Nakos of On3 did some digging on what each team is actually spending to put players on the floor. Michigan dropped at least $10 million. Arizona, UConn and Illinois were all somewhere in the $8 to $10 million range. One source told Nakos that the “golden price point” for next year’s rosters could be as high as $12 to $15 million.

College basketball has always been big business. But the Final Four this year is a reminder of just how big it's gotten. Here’s a closer look at where each program is spending and earning its money:

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