Loyola University New Orleans allocated $990,581 toward its men’s basketball teams for 2024, which is $491,907 less than the Louisiana state average of $1,482,488, figures from the U.S. Department of Education show.
This represented 8.8% of Loyola University New Orleans’ total athletics spending during the same period.
Overall sports-related expenses at the university have grown 594.7% since 2010.
Alongside football, basketball ranks among the most prominent collegiate sports in the U.S., with high-profile NCAA programs attracting fan bases and TV audiences comparable to those of professional leagues like the NBA. Annual tournaments such as March Madness draw millions of viewers.
A legal settlement has ushered in a significant shift in college athletics, allowing schools to directly distribute revenues to athletes for the first time and mandating the NCAA pay $2.8 billion in back compensation over 10 years to players who participated from 2016 onward.
The landscape for college athletes changed in 2022 when legislation and policy adjustments enabled players to benefit financially from their names, images and likenesses through new laws and NCAA rules.
The NCAA’s revenue from March Madness and associated Division I men’s basketball tournament broadcast rights totaled about $900 million in fiscal year 2024, with basketball accounting for the largest share of the organization’s revenue.
| Year | Basketball team’s expenditures | % from grand total sport team expenditures |
|---|---|---|
| 2020 | $787,555 | 13.4% |
| 2021 | $861,835 | 11.3% |
| 2022 | $946,969 | 11.5% |
| 2023 | $1,056,971 | 10.7% |
| 2024 | $990,581 | 8.8% |
Data for this story comes from the U.S. Department of Education. To review the original source, click here.
