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"Each team will receive about $250,000 per game played which comes in the form of six payments beginning the following year. For most conferences the amount is split amongst the schools."
14 games played by Big 12 Teams this year in the tourney for 3.5 Million, based on the old formula we would get $269,230 in six equal payments over the next six years of approx $44,900. (Rounding included in numbers)
It might be more now that Neb and CU won't be getting a share. Also, the formula for sharing may have been changed since I last looked it up.
Edit to Add: The formula was that all the money for each game was split in 13 pieces with the school that actually played the game getting two pieces of the pie. (pun intended). Not sure how it is now and not really interested in looking it up!
15 x 250.000 /13 /6 = $48,077 per year for six years. And don't forget, we are still collecting money from all of the past five tournaments too.
Edit to ADD: by comparison, in 2005 the Men's Payout was approx $1M per game played (this includes the "first round" games. So UTSA, a 16 seed made more money than half the teams in the tournament.
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