Pulled from the ICYMI file this past week, some notes on the ACC’s revenue projections were discussed…
Swofford says @accnetwork ahead of first-year revenue projections.
— David Teel (@ByDavidTeel) May 14, 2020
ACC commissioner John Swofford said the league will distribute 98% of its projected revenue despite the loss of the NCAA tourney.
He said the league benefited from additional money from the ACC Network.
— Matt Murschel (@osmattmurschel) May 14, 2020
From Luke DeCock and the NewsObserver in their article on the ACC breaking nearly even for the 2019-2020 revenue.
Reduced expenses amid the cancellation of spring sports because of the coronavirus pandemic and better-than-expected ACC Network revenues allowed the conference to essentially break even on the 2019-20 fiscal year even with the disruption, Swofford said in a video teleconference on the final day of the conference’s (virtual) annual spring meeting.
“ESPN has paid us in full on the base agreement of our arrangement for the 2019-20 year, so we’re certainly in decent shape, sound shape financially coming out of this year,” Swofford said.
While numbers weren’t released yet, this is pretty good news for ACC schools and rather fortunate. The ACC had signed cable carriage deals in 2019 with nearly every major carrier except Comcast. Having those deals done around the time of the network launch ensured the ACC wouldn’t be negotiating in a very uncertain current live sports landscape of 2020.