Our friends at Loyola are really enjoying their run in the NIT. They are well-coached and have a good team. The game was exciting to watch, but will all of the money floating around college sports, I found it interesting that the NCAA/NIT pays out funds for participants. This article from 2021 says that payouts are made to each team and that the tournament turns a profit.
"In addition to having travel, hotel and other expenses comped, each school in the NIT is given $4,000 for every game it plays. It’s a total payout pool of $128,000 this year."
www.sportico.com
"In addition to having travel, hotel and other expenses comped, each school in the NIT is given $4,000 for every game it plays. It’s a total payout pool of $128,000 this year."
March Madness Daily: The Other NCAA Men’s Tournament Is a Profit Machine
The NIT tournament, owned by the NCAA, had possibly its most profitable year in 2020 due to ESPN fulfilling its full media contract.
www.sportico.com
