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As the waning moments of the Southern Illinois vs. Virginia Tech game continued to pass, the chink of coins began to grow louder and louder. While some may say that the ‘chinking’ sound was the growing pay day that Chris Lowery may be receiving after this NCAA Tournament run, that’s not the sound I’m referring to. After what was considered by many a shafting by the Selection Committee to the Missouri Valley Conference (and other non-BCS conferences in general) in the fact that SIU and Creighton were the only two MVC schools chosen for the NCAA Tournament, the MVC got at least what they were looking for.
Not only does this make the 4th trip to the Sweet Sixteen by an MVC school in 6 years, or the 3rd in 2 years, or a guarantee of at least a .500 record in the NCAA tournament by MVC teams in the past two years, but in the world of collegiate athletics where money rules, the MVC will be receiving a larger paycheck from the NCAA and CBS this upcoming year. The MVC has now received multiple bids to the NCAA Tournament for the last 9 years, and 12 of the last 15. Are we still ‘mid-major’? Probably. We don’t have several of the things that the ‘high majors’ have. However, that gap that people have been talking about since the NCAA leveled the playing field by restricting all Division 1 schools to 13 basketball scholarships continues to narrow. In many respects, the Missouri Valley is almost there…almost. There are several things that the MVC has to do to become ‘one of them’, which, when you think about it, is pretty amazing for a conference that doesn’t have the money maker known as BCS football.
So, back to the ‘chinking’ of coins…
The NCAA makes tons of money from it’s mega-buck contract with CBS to carry the Division 1 NCAA Tournament. What it does with that money is tri-fold. Some of it goes into the NCAA purses to enhance future events and other sports (i.e.- non-revenue sports). Some of it goes to funds that help support the student-athletes who are under-privileged, need financial assistance for things like winter clothing, or other special need-based grants for enhancing scholastic achievement. And the rest goes to the institutions’ conferences that play in the NCAA Tournament. That’s the ‘chinking’ of coins I’m talking about.
The Missouri Valley Conference gets millions each year for their participation in the greatest multi-week sporting event in America. The MVC divvies up it’s financial reward in a revenue sharing manner. This is beneficial to all MVC schools. Unlike the Big XII Conference television contract that rewards the top teams and bigger markets (which tends to shun teams like Iowa State), the MVC revenue sharing system breaks down their millions and evenly distributes the money to all 10 schools, although the teams doing the heavy lifting do get their reward too. To better explain this, I have to demonstrate the mathematics.
Each game in the NCAA Tournament played by a conference equals one share. Each share is paid out over a six year installment. Each share has been about $164,000 per year, for six years. So, the total value of each share is $984,000…distributed over six years. So, each time a MVC team plays an NCAA Tournament game, it is worth an additional $164,000 per year (or $984,000 in total). That’s a lot of ‘chinking’!
So, what about this revenue sharing I’m talking about?
Well, the MVC has devised a plan. Each year, the MVC divides each share into 12 units. These units, now worth $13,667 apiece, are given to each MVC institution. So, 12 units minus 10 units for each school, that leaves 2 remaining units. The MVC office takes one unit, and then rewards the school that played in the game, that gave the conference this share, an additional unit for their hard work. Now you’re starting to understand why it’s so beneficial to be getting to the NCAA tournament, and why it helps UNI when other MVC schools make deep runs.
So, why was there more ‘chinking’ now?
Well, like I said before, the money is distributed for 6 years. That means the last six years’ outcomes are what matters the most. Let’s take a look at those last six years in the MVC:
8 shares 2006 WSU (3), UNI (1), SIU (1), BU (3)
4 shares 2005 SIU (2), CU (1), UNI (1)
2 shares 2004 SIU (1), UNI (1)
2 shares 2003 CU (1), SIU (1)
5 shares 2002 SIU (3), CU (2)
3 shares 2001 CU (1), InSU (2)
24 shares
So, UNI has received 24 units (one for each MVC appearance in an NCAA Tournament game), plus 3 additional units for the 3 NCAA first round appearances the past three years. That’s 27 units x $13,667/unit= $369,009 this year payment from the MVC to your University of Northern Iowa. Well, I have some good news.
So, again, why was there more ‘chinking’ now?
The MVC (as shown above) had 24 shares paid out this year. Now, that share number is up to 25, as the MVC is replacing the 3 shares from 2001 with AT LEAST 4 shares this year (with Creighton garnering 1 share, and SIU garnering at least 3 with their Sweet Sixteen run). That means another $13,000+ given to UNI. That’s money that gives UNI almost another full ride in-state scholarship. That’s money that increases the financial compensation for UNI’s coaches. That’s money that helps the non-revenue sports increase their budgets. That’s money that helps keep UNI’s athletic department money.
So, for a long time, we have all been rooting for our conference foes to make deep tournament runs. Now, you know it’s not just for national prestige, making UNI look good for those wins they posted against those teams, or a recruiting tool to get better student-athletes to UNI and other MVC schools. Now, you’re fully educated on why it’s such a big deal, financially, for the MVC to play as many games as possible in the NCAA Tournament. Now, you see the numbers that make pundits across America make conspiracy theories on Selection Committee appointments to the NCAA Tournament, regarding the number of BCS schools making the Big Dance.
Oh, one last thing, that $164,000 per share payout that the NCAA gives each year…that went up to $177,000 per share this year. Every little bit helps.
Not only does this make the 4th trip to the Sweet Sixteen by an MVC school in 6 years, or the 3rd in 2 years, or a guarantee of at least a .500 record in the NCAA tournament by MVC teams in the past two years, but in the world of collegiate athletics where money rules, the MVC will be receiving a larger paycheck from the NCAA and CBS this upcoming year. The MVC has now received multiple bids to the NCAA Tournament for the last 9 years, and 12 of the last 15. Are we still ‘mid-major’? Probably. We don’t have several of the things that the ‘high majors’ have. However, that gap that people have been talking about since the NCAA leveled the playing field by restricting all Division 1 schools to 13 basketball scholarships continues to narrow. In many respects, the Missouri Valley is almost there…almost. There are several things that the MVC has to do to become ‘one of them’, which, when you think about it, is pretty amazing for a conference that doesn’t have the money maker known as BCS football.
So, back to the ‘chinking’ of coins…
The NCAA makes tons of money from it’s mega-buck contract with CBS to carry the Division 1 NCAA Tournament. What it does with that money is tri-fold. Some of it goes into the NCAA purses to enhance future events and other sports (i.e.- non-revenue sports). Some of it goes to funds that help support the student-athletes who are under-privileged, need financial assistance for things like winter clothing, or other special need-based grants for enhancing scholastic achievement. And the rest goes to the institutions’ conferences that play in the NCAA Tournament. That’s the ‘chinking’ of coins I’m talking about.
The Missouri Valley Conference gets millions each year for their participation in the greatest multi-week sporting event in America. The MVC divvies up it’s financial reward in a revenue sharing manner. This is beneficial to all MVC schools. Unlike the Big XII Conference television contract that rewards the top teams and bigger markets (which tends to shun teams like Iowa State), the MVC revenue sharing system breaks down their millions and evenly distributes the money to all 10 schools, although the teams doing the heavy lifting do get their reward too. To better explain this, I have to demonstrate the mathematics.
Each game in the NCAA Tournament played by a conference equals one share. Each share is paid out over a six year installment. Each share has been about $164,000 per year, for six years. So, the total value of each share is $984,000…distributed over six years. So, each time a MVC team plays an NCAA Tournament game, it is worth an additional $164,000 per year (or $984,000 in total). That’s a lot of ‘chinking’!
So, what about this revenue sharing I’m talking about?
Well, the MVC has devised a plan. Each year, the MVC divides each share into 12 units. These units, now worth $13,667 apiece, are given to each MVC institution. So, 12 units minus 10 units for each school, that leaves 2 remaining units. The MVC office takes one unit, and then rewards the school that played in the game, that gave the conference this share, an additional unit for their hard work. Now you’re starting to understand why it’s so beneficial to be getting to the NCAA tournament, and why it helps UNI when other MVC schools make deep runs.
So, why was there more ‘chinking’ now?
Well, like I said before, the money is distributed for 6 years. That means the last six years’ outcomes are what matters the most. Let’s take a look at those last six years in the MVC:
8 shares 2006 WSU (3), UNI (1), SIU (1), BU (3)
4 shares 2005 SIU (2), CU (1), UNI (1)
2 shares 2004 SIU (1), UNI (1)
2 shares 2003 CU (1), SIU (1)
5 shares 2002 SIU (3), CU (2)
3 shares 2001 CU (1), InSU (2)
24 shares
So, UNI has received 24 units (one for each MVC appearance in an NCAA Tournament game), plus 3 additional units for the 3 NCAA first round appearances the past three years. That’s 27 units x $13,667/unit= $369,009 this year payment from the MVC to your University of Northern Iowa. Well, I have some good news.
So, again, why was there more ‘chinking’ now?
The MVC (as shown above) had 24 shares paid out this year. Now, that share number is up to 25, as the MVC is replacing the 3 shares from 2001 with AT LEAST 4 shares this year (with Creighton garnering 1 share, and SIU garnering at least 3 with their Sweet Sixteen run). That means another $13,000+ given to UNI. That’s money that gives UNI almost another full ride in-state scholarship. That’s money that increases the financial compensation for UNI’s coaches. That’s money that helps the non-revenue sports increase their budgets. That’s money that helps keep UNI’s athletic department money.
So, for a long time, we have all been rooting for our conference foes to make deep tournament runs. Now, you know it’s not just for national prestige, making UNI look good for those wins they posted against those teams, or a recruiting tool to get better student-athletes to UNI and other MVC schools. Now, you’re fully educated on why it’s such a big deal, financially, for the MVC to play as many games as possible in the NCAA Tournament. Now, you see the numbers that make pundits across America make conspiracy theories on Selection Committee appointments to the NCAA Tournament, regarding the number of BCS schools making the Big Dance.
Oh, one last thing, that $164,000 per share payout that the NCAA gives each year…that went up to $177,000 per share this year. Every little bit helps.
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