May 29, 2015 01:35 PM EDT By Russell Westerholm, UniversityHerald Reporter

Members of the Southeastern Conference (SEC) are set to share in a record league revenue $455 million generated for the 2014-2015 fiscal year.

Unnamed sources told ESPN Friday the SEC will grant each of its 14 member institutions approximately $31.07 million, holding onto $20 million to distribute among schools that played in football bowl games last season. The average individual revenue share is up more than $10 million from last year's $20.09 million payout.

When the numbers are confirmed, the $455 million revenue will be an NCAA record. Meanwhile, ESPN learned, the Big 12 is expected to draw a total revenue of more than $250 million for the past fiscal year. Revenue figures for other Power 5 conferences were not available, but ESPN noted the Big Ten made $338.9 million in the 2013-2014 fiscal year.

The first year of the College Football Playoff (CFP) was a major success, especially for the SEC, which had four participants in New Years Six bowl games and one that played in the National Championship semifinals and finals.

However, the bulk of the revenue share also includes money generated from the newly launched SEC Network, the NCAA men's and women's basketball tournaments, as well as any televised regular season basketball or football game.

The new report comes in the midst of the SEC's annual spring meetings in Destin, Fla., where coaches, athletic administrators and league officials are discussing a wide range of topics. Chiefly among them has been graduate transfers and satellite camps.

With the new CFP system in place for the next decade-plus and the new autonomy model going into effect, the SEC is expressing interest in all Power 5 conferences to play by the same rules.

(Source: ESPN)

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