Penn State To Receive Big Ten Revenue From Pinstripe Bowl
In a vote by the Big Ten Council of Presidents and Chancellors, Penn State will receive its full share of bowl revenue from the 2014-15 football season. This leads to Penn State receiving an unexpected $4.5 million in revenue from its win over Boston College in the New Era Pinstripe Bowl.
As part of the sanctions that followed the release of the Freeh report, the Big Ten had determined that Penn State’s potential bowl revenue would be split among the twelve schools that occupy the conference. This money would then be dedicated to local organizations and charities that supported the safety of children. In 2013, each school received $188,344; in 2014, that total increased about $41,000 per school.
Earlier this year, the Big Ten announced its decision to grant Penn State the share of conference bowl revenue, beginning in the 2015-16 season. However, the vote that occurred today is instrumental in officially allocating all bowl revenue to Penn State, thus ending the previous conference-wide sharing of revenue.
Eric Barron, who was in Chicago to attend the meeting, was satisfied with the Big Ten’s vote. “This money is used to support student-athletes and our programs, and some things have been delayed due to the ban,” Barron said, following the meeting. “Obviously, it is much needed and welcome. I thank my fellow presidents.”