Arkansas atop 2021-22 SEC men's basketball revenue list

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The Eric Musselman era at Arkansas has produced the men's basketball program's most on-court success in a quarter-century. As a result, the UofA has been raking in cash at a record rate.

Every year, the U.S. Department of Education publishes an Equity in Athletics Data Analysis breaking down revenue, expenses and other financial figures in the realm of college athletics for the previous fiscal year.

The 2021 data, corresponding to the 2021-22 basketball season, is out, and it shows Arkansas generated the most revenue among the 14 member institutions in the Southeastern Conference. Only six Division-I programs hauled in more that season.

The DOE website defines revenue as follows:

"All revenues attributable to intercollegiate athletic activities. This includes revenues from appearance guarantees and options, contributions from alumni and others, institutional royalties, signage and other sponsorships, sport camps, state or other government support, student activity fees, ticket and luxury box sales, and any other revenues attributable to intercollegiate athletic activities."

Here is how the 14 SEC schools stack up to one another:

The 2021-22 season marked another important step in the transformation of the Razorbacks under Musselman.

Not only did it result in the team's second consecutive trip to the Elite Eight, but it also generated the most revenue in the 19-year history of the Equity in Athletics data, topping the 2018-19 mark of $21.4 million. Aside from Kentucky, no other SEC team has ever broken $20 million.

Wins over No. 1 Auburn at home and No. 1 Gonzaga in the Sweet 16 made year three of the Musselman era the most memorable to this point, and the transaction history reflects it.

The John Calipari-coached Wildcats continued to be a cash cow for the university, but by its standards, that was a pretty low mark.

Excluding the 2020-21 campaign because of COVID-19, 2021-22 was the lowest-grossing season since 2011 for Kentucky. It was one of four schools that experienced lower figures in than their pre-pandemic levels. Since peaking at $38.8 million in 2018-19, that number has decreased twice in as many "regular" seasons.

Fittingly, that season ended with a first-round NCAA Tournament exit at the hands of Saint Peter's, a No. 15 seed.

Year three did not treat Nate Oats and the Crimson Tide nearly as well as it did Musselman and the Razorbacks on the court, but the revenue haul did not show that.

Alabama was the beneficiary of the third-biggest jump from pre-pandemic levels, joining Arkansas and Auburn with increases of over $4 million.

Win the regular season SEC title, the conference tournament and the first two games in the big dance as the Crimson Tide did in 2020-21, and it turns out business will boom in the next season.

The pandemic fostered a second straight down year for the Tigers in terms of revenue, but no team bounced back harder in 2021-22.

After dipping into seven-figure range for just the second time in eight seasons, Auburn returned with 71% more that in brought in during the 2020-21 season.

Even better for Bruce Pearl and company, there was an SEC regular season championship to show for it.

2021-22 was the seventh season in school history with a revenue of at least $16 million, but excluding the one prior, it was the lowest since 2017-18.

The Volunteers went 14-4 against conference opponents two seasons ago, claiming the No. 2 seed in the SEC Tournament, which they won for the first time in more than four decades.

Perhaps most reflective of the relatively poor figure was their second-round NCAA Tournament loss to Michigan, a No. 11 seed.

While 2021-22 was not the highest-grossing season in Commodore history, it came very close.

That honor belongs to 2019-20, the first season with Jerry Stackhouse at the helm. Still, for Vanderbilt to be among the top half of SEC teams on this list despite finishing 7-11 and not qualifying for the NCAA Tournament is impressive.

It was the Commodores' fourth consecutive season in eight figures, and with the noise they made last season, it is fair to expect this number only to rise in the near future.

One of the more unforgettable SEC Tournament runs in recent memory belonged to the Aggies in 2021-22, but it did not result in their highest-grossing season.

When Buzz Williams first took the reins in 2019-20, Texas A&M generated $14.8 million, a number that a measly 9-9 record could not top.

Despite reaching the SEC Tournament final as the No. 8 seed, the selection committee passed on the Aggies, and Williams' bunch eventually found itself playing for the NIT championship.

Head coach Mike White's seventh and final season in Gainesville did not match his first two in terms of revenue, but it was a step up from every one in between.

The Gators were one of five teams to finish in the middle of the pack at 9-9 and one of six to generate between $12 and 13 million.

Simply put, Florida was average in more ways than one.

Another embodiment of mediocrity, the 10th season of Frank Martin-coached basketball was the last in Columbia, but it did not come without a record.

The pandemic snapped a streak of four straight Gamecock seasons with at least $10 million in revenue, but none of them ever produced more than $12 million — not even 2016-17's Final Four team.

Even though South Carolina administrators decided they had seen enough of Martin, 2021-22 was at least successful by one metric.

The on-court product under head coach Kermit Davis continued to deteriorate, but that did not stop Mississippi from setting a revenue record in 2021-22.

Even with just four wins in conference play, the Rebels eclipsed the previous mark of $11.2 million, achieved in 2018-19 — Davis' first season in Oxford.

While the 2021-22 figure is among the lowest in the conference, maybe Ole Miss fans can at least appreciate that it is more than Mississippi State.

The 2021-22 season marked an unceremonious end to the Cuonzo Martin era in Columbia, as the Tigers finished 5-13 in year five.

The former head coach's first two years generated more revenue that his last, but it was a step back up from the two in the middle.

Since joining the SEC in 2012, that is the program's fifth-best total.

The worst season by an SEC men's basketball team in three years belonged to the Bulldogs, who finished just 1-17.

Even with a miserable product in the final season under Tom Crean, Georgia set a revenue record in 2021-22, surpassing the $10.7 million it generated three years earlier.

Having hired White away from Florida, perhaps the necessary building blocks are in Athens for even more growth in the future.

While the 2021-22 campaign came crashing down for the Tigers in a hurry, it was the best in school history from a revenue standpoint.

After suffering its third defeat of the season to Arkansas in the SEC Tournament, LSU fired Will Wade for Level I NCAA violations, and interim head coach Kevin Nickelberry oversaw a first-round defeat at the hands of Iowa State, a No. 11 seed.

Despite the ugly ending to Wade's tenure, the program cracked eight figures for the first time after coming $34,463 short in 2018-19.

Bringing up the rear are the Bulldogs, who finished 8-10 in the seventh and final season under Ben Howland.

The 2021-22 campaign set a school record in revenue, clearing the $8 million mark for the third time since 2009-10.

Still, Mississippi State remains the only SEC program never to generate eight figures.

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