The National Collegiate Athletic Association (NCAA) generated record revenues of $1.16b for the 2021 fiscal year ending 31st August.
The record revenue marks an increase from $519m recorded in 2020.
The US collegiate sports’ body suffered heavy losses during the height of the Covid-19 pandemic, with the cancellation of the men’s March Madness basketball tournament alone costing the NCAA $800m in missed multimedia and ticket revenue.
The NCAA did recoup $270m from its insurance policy but was only able to distribute $246m to its members in 2020.
The return of March Madness in 2021 in a bubble format in Indiana saw NCAA members receive $613 million in distributed central funding.
The NCAA is set to see revenue from its TV deals reach $870 million in 2022, and said it will surpass $900 million from 2025.