NCAA slashes distribution by $375 million due to COVID-19

The cancelation of March Madness will cost the NCAA $375 million, an amount of money that will be missed bu schools that compete in mid-major conferences.

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March 27, 2020 - 4:07 PM

Ohio State President Dr. Michael V. Drake chairs the NCAA's Division I Board of Governors, which on Thursday announced it will distribute $375 million less in revenue than expected to its members and delay the payments until June. Photo by cleveland.com/David Petkiewicz

Canceling March Madness because of the coronavirus pandemic will cost the NCAA about $375 million that it would have distributed to 350 schools across the nation.

Some will be able to absorb the losses better than others.

The NCAA announced Thursday it will distribute $225 million to its Division I member schools in June, nearly two-thirds less than the $600 million scheduled to be handed out in installments from April to June.

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