The Southeastern Conference says it distributed an average of $49.9 million to its 14 member schools for the fiscal year that ended last August.

Commissioner Greg Sankey said Thursday the league divided $721.8 million of total revenue among its members. That included $698.5 million distributed by the league office and $23.3 million retained by schools for travel and other bowl-related expenses. The amounts were from the 2021-22 fiscal year which ended August 31.

In the previous fiscal year, the SEC had distributed $764.4 million of total revenue, or about $54.6 million to each school.

The total distribution amount includes revenue generated from television agreements, bowl games, the College Football Playoff, the SEC football championship game, the SEC men’s basketball tournament, NCAA Championships and a supplemental surplus distribution.

It doesn’t include an additional $8.1 million in grants from the NCAA and SEC divided among the 14 schools.