The funds are distributed directly to the member conferences of the various teams, and payouts for this year's tournament will not begin until next year.

The payments then are broken down into the six-slice pie. Distributions right now on the men's side for the six-year window actually are comprised of just five total NCAA tournaments because the COVID-19 pandemic forced the cancellation of the men's and women's 2020 championships. Women's basketball units are distributed over a three-year timeframe.

In this year's men's tournament, Texas, for example, received four games or units worth 24 shares.

That's approximately $10.5 million the Longhorns have positioned themselves to earn for the SEC. A year ago, when Todd Golden's Florida Gators won the national championship, the SEC paced all leagues with a record 35 NCAA Tournament games/units that resulted in $70 million in earnings for the league.

However, that number would grow this year because of a change the NCAA voted to adopt on Jan. 14 in its Division I Business Session.

The NCAA and its affiliate members voted to increase unit allocations into the Final Four, adding a total of three units to this year's 68-team field. Florida would have netted the SEC an additional $4 million for its championship.

"(This) vote emphasizes the importance of rewarding schools who invest in the development of their basketball programs and reach not just the Final Four," Dan Gavitt, the NCAA's senior vice president of basketball, said at the time in a release, "but ultimately achieve the pinnacle of success in this sport by competing for and winning the national championship.

"The expansion of these funds also continues to increase financial support to members during this pivotal time in college sports in which student-athletes are receiving unprecedented benefits from their schools."

Many leagues choose to use the funds earned in March Madness — such as the SEC's $70 million haul a year ago — as part of its equal revenue-distribution amongst its members.

The ACC, however, shifted its longstanding revenue-sharing policy in June 2025 to reward its March Madness and College Football Playoff participants with a greater revenue share.

For its participating team, whether it be for one game or multiple contests, the Sun Belt Conference provides a "50% threshold" off additional revenue for the year that team advanced into the NCAA Tournament.

Furman earned an extra share for the Southern Conference three years ago when it ousted Virginia from the tournament; that additional revenue will continue being distributed by the conference for the next four years after it received corresponding shares in 2024-25.

The NCAA also covers participating teams' travel costs — with exceptions. The athletic director told USA TODAY Sports the NCAA sets fixed amounts for the average cost a commercial airfare ticket, daily hotel rate, daily travel rate and per diem.

Schools can, however, choose to charter a jet rather than fly commercially and incur the expected cost-differential.

This article originally appeared on USA TODAY: March Madness is big business. Each game is worth more than $2 million