SEC commissioner Greg Sankey on Thursday announced $721.8 million of total revenue was divided among the conference’s 14 universities for the 2021-22 fiscal year.

Each school will receive roughly $49.9. million, excluding bowl expenses kept by participants, from the conference office, per a release.

“The SEC’s annual revenue distribution significantly enhances the ability of our universities’ athletics programs to provide the highest level of support for the thousands of student-athletes who participate in sports each year on our campuses,” Sankey said in a released statement. “This commitment to an impactful and life-changing experience encompasses superior support in coaching, training, academic counseling, medical care, mental health, nutrition, life-skills development and extended health coverage for our student-athletes.”

USA TODAY Sports, meanwhile, reports the SEC had a nearly 4 percent decline in revenue during its 2022 fiscal year, the conference’s new federal tax records show.

The document – provided by the conference on Thursday in response to a request from USA TODAY Sports – shows the SEC with total revenue of just more than $802 million for a year ending Aug. 31, 2022.

It reported $833.4 million in revenue for its 2021 fiscal year.

This year’s total sum includes $698.5 million distributed directly from the conference office, as well as $23.3 million retained by universities that participated in 2021-22 football bowl games to offset travel and other related bowl expenses.

The total distribution amount is comprised of revenue generated from television agreements, post-season bowl games, the College Football Playoff, the SEC Football Championship Game, the SEC Men’s Basketball Tournament, NCAA Championships and a supplemental surplus distribution.

The distribution amount does not include an additional $8.1 million of NCAA and SEC grants divided among the 14 member universities.

Currently more than 5,400 female and male student-athletes across the SEC receive financial aid, and counting non-scholarship participants, more than 7,100 total student- athletes participate in sports sponsored by SEC universities.