Penn State To Receive Conference Bowl Revenue Beginning Next Season
The Big Ten and the Council of Presidents and Chancellors decided yesterday that Penn State will receive its share of conference bowl revenue beginning with the 2015 season.
In a statement, Penn State President Eric Barron and Athletic Director Sandy Barbour praised the conference’s decision.
“We are grateful to the Big Ten and the Council of Presidents and Chancellors for their decision to restore Penn State’s share of the Conference bowl revenues to the University in the upcoming football season,” Barron said.
In 2013 and 2014, Penn State’s bowl revenues were distributed across the Big Ten following the release of the Freeh Report in 2012, which also resulted in the NCAA’s now-overturned sanctions on the University. The bowl revenue was equally divided to child abuse prevention-focused organizations in the conferences members institutions’ local communities.
“We are very appreciative of the decision made by the conference Presidents and Chancellors as these funds are vital to our ability to continue to create the very best conditions for success for our student athletes,” Barbour said. “This is yet another step in allowing today’s student athletes all the opportunities they deserve.”
Bowl revenues generally go towards the Athletic Department’s budget, helping offset the costs of sports that generally do not break even. The reinstatement of Penn State’s bowl revenue will further allow for athletics to fund those sports and improvements on the department’s facilities.