Boston University in Massachusetts spent $3,006,395 on men’s basketball teams in 2024, an amount that exceeds the state average of $732,909 by $2,273,486, according to the U.S. Department of Education.
This sum represented 7.2% of all university sports team spending in 2024.
Boston University’s total sports-related expenditures have risen 62.6% since 2010.
Basketball ranks among the top college sports in the United States along with football, attracting fan bases and television audiences that in some cases rival those of the NBA. Annual events like March Madness draw millions of viewers.
College athletics has entered a new era of athlete pay after a federal settlement permitted schools to directly distribute revenue to athletes for the first time. The agreement also requires the NCAA to distribute $2.8 billion in back damages over 10 years to players who participated from 2016 onward.
Athletes were also granted the ability to earn compensation from use of their names, images and likenesses beginning in 2022 following legal and policy changes by states and the NCAA.
The NCAA earned approximately $900 million in revenue during fiscal year 2024 from media rights associated with March Madness and other Division I men’s basketball tournaments, making basketball its top source of funding.
| Year | Basketball team’s expenditures | % from grand total sport team expenditures |
|---|---|---|
| 2020 | $2,814,251 | 8% |
| 2021 | $2,266,211 | 7.6% |
| 2022 | $2,956,614 | 8% |
| 2023 | $3,017,607 | 7.8% |
| 2024 | $3,006,395 | 7.2% |
Information in this story was obtained from the U.S. Department of Education. The source data can be found here.
