In 2024, Grand Canyon University in Phoenix directed $6,723,378 toward its men’s basketball programs. The figure is $5,191,588 higher than the Arizona state average of $1,531,790, as reported by the U.S. Department of Education.
The university’s spending represented 22% of its total athletics budget for 2024.
Grand Canyon University’s overall athletic expenditures have risen 332.5% since 2010.
Basketball remains one of the most followed collegiate sports in the country, standing alongside football in fan engagement and television ratings comparable to the NBA. Events such as March Madness draw millions of viewers annually.
College sports have moved into a new phase of athlete payment following a federal settlement that will permit schools to directly share revenue with athletes for the first time. The settlement also requires the NCAA to pay $2.8 billion in back damages over a 10-year span to student-athletes who played from 2016 onward.
By 2022, after legal and policy changes, college athletes won the ability to earn money from their names, images, and likenesses through new regulations and NCAA rules.
The NCAA brought in about $900 million in revenue from March Madness and related Division I men’s basketball media rights during the 2024 fiscal year, making men’s basketball the organization’s largest revenue generator.
| Year | Basketball team’s expenditures | % from grand total sport team expenditures |
|---|---|---|
| 2020 | $5,338,540 | 23% |
| 2021 | $5,344,682 | 22.8% |
| 2022 | $6,786,395 | 23.3% |
| 2023 | $7,668,046 | 25% |
| 2024 | $6,723,378 | 22% |
Information in this story was obtained from the U.S. Department of Education. The source data can be found here.
