RALEIGH, N.C. (WNCN) — Both North Carolina and N.C. State showed up near the top of the Atlantic Coast Conference on one of the league’s most important leaderboards — money.
CBS 17 on Friday obtained the ACC’s tax forms for the 2022 fiscal year and it shows those two Triangle schools were among five that received payouts of more than $40 million from the league that year.
The release of the public IRS Form 990 came at the end of a week dominated by discussion of the ACC’s future financial health during its spring meetings in Florida.
The league as a whole reported a record revenue of $617 million that year — up 6.7 percent from the previous year. That includes money from the league’s television deal with ESPN along with bowl and NCAA Tournament revenue.
The average payout for the league’s 14 full-time members was $39.4 million — about $10 million less than it was in the Southeastern Conference.
Pittsburgh, which won the ACC football title that year, received the ACC’s largest payout at $41.2 million.
N.C. State received nearly $40.2 million, up 10 percent from the previous year, while UNC got $40.1 million, an increase of 7.2 percent. The other schools that topped $40 million were Louisville ($40.4 million) and Virginia Tech ($40.4 million).
Duke received slightly less than the league average, $38.8 million, but that was still up nearly 9 percent from Fiscal 2021.
The new document showed new commissioner Jim Phillips received $2.4 million in compensation that year. He replaced John Swofford, who made $3.2 million.