President Michael Rao, Ph.D. | Virginia Commonwealth University
President Michael Rao, Ph.D. | Virginia Commonwealth University
The county’s funding for the basketball teams comprised 25.1% of all money invested in sports teams in 2023.
The average sports expenses in Richmond city have grown 140.6% since 2010.
Virginia Commonwealth University stood out as the university in Richmond city that received the most basketball funding during 2023. The institution received $11,619,731 - or 53.6% of all the money destined to basketball teams.
Basketball is one of the most popular sports played at U.S. colleges, as well as football. NCAA basketball teams are often as popular as NBA teams, and offer a different experience for fans.
In 2022, after a decades-long fight, student athletes nationwide gained the right to profit from their names, likenesses, and images as a result of a flurry of new state laws and an NCAA policy change.
The basketball fund received around 168.57 million dollars from NCAA revenue in the 2020–21 school year.
| Year | Basketball Team's Expenditures | % from grand total sport team expenditures |
|---|---|---|
| 2023 | $21,670,598 | 25.1% |
| 2022 | $20,210,100 | 26% |
| 2021 | $15,564,001 | 24.9% |
| 2020 | $18,250,858 | 25.4% |
| 2019 | $17,221,384 | 25.8% |
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