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Lynchburg Reporter

Tuesday, December 3, 2024

Lynchburg city’s institutions spent $5,628,966 on men’s basketball teams in 2023

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Dr. Alison Morrison-Shetlar, President | University of Lynchburg

Dr. Alison Morrison-Shetlar, President | University of Lynchburg

Lynchburg city spent $5,628,966 on men’s collegiate basketball teams in 2023, representing a 14.8% increase from the previous year, according to the U.S. Department of Education.

Overall, basketball teams in the county received a total of $8,357,145, with men’s teams receiving $5,628,966.

Since 2010, the average sports expenses in Lynchburg city have grown 76.1%.

Basketball is one of the most popular sports played at U.S. colleges, as well as football. NCAA basketball teams are often as popular as NBA teams, and offer a different experience for fans.

In 2022, after a decades-long fight, student-athletes nationwide gained the right to profit from their names, likenesses, and images as a result of a flurry of new state laws and an NCAA policy change.

The basketball fund received around 168.57 million dollars from NCAA revenue in 2020–21.

Men’s Basketball Team's Expenditures of Lynchburg city Over Last 5 Years
YearBasketball team's expenditures% from grand total sport team expendituresTotal Sport Team Expenditures
2023$5,628,9668.1%$69,664,802
2022$4,905,3757.7%$63,899,657
2021$4,377,7777.6%$57,958,069
2020$3,966,8317.4%$53,872,555
2019$3,763,0186.6%$56,897,582

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