University of Maryland to commit $20.5M for revenue sharing with student-athletes

University of Maryland student-athletes will soon be compensated by their school directly.

Maryland athletics will begin sharing the maximum-allowable amount of $20.5 million with its athletes beginning this fall, athletic director Damon Evans said Tuesday.

The vast majority of that amount will be distributed among the three revenue-producing sports football, mens basketball and womens basketball according to a .

Evans also said he expects the athletic department to take on more than $25 million in new expenses as a result of a settlement that received preliminary approval in the House vs.

NCAA case, an antitrust lawsuit that would also force schools to pay back damages of $2.8 billion to former athletes if finalized Marylands share of that is $1.5 million annually over the next 10 years, according to the release.

While we support the proposed settlement and the new opportunities it provides for our student-athletes, it also creates significant financial challenges for our program, Evans said.

The House vs.

NCAA case, which a U.S.

District judge in California gave preliminary approval for in October, clears the way for schools to pay players directly.

A hearing for final approval will be held in April and would go into effect immediately.

The athletic department will increase ticket prices by $2.50 and cut operating expenses starting this fall, according to the release.

Evans is also urging fans to renew their season tickets, join the Terrapin Club and Maryland Club and even better, please consider upgrading your membership level.

Moving forward, we will be asking you to continue and augment your support of Maryland Athletics, the athletic director said.

To remain competitive, we will need to significantly grow our resources.

Evans, who took the job in 2018, in the fall that will keep him in College Park through 2029 at a $1 million annual salary, a $275,000 raise.

Coaches Mike Locksley (football), Kevin Willard (mens basketball) and Brenda Frese (womens basketball) are all under contract through the 2028-29 seasons.

Maryland athletics has invested heavily in facilities under Evans.

A basketball practice facility adjacent to the Xfinity Center is scheduled to open by the start of next season.

The Jones-Hill House, an indoor and outdoor football practice facility, opened in 2021, and Terps baseball, softball, womens lacrosse and field hockey have been given new or upgraded facilities in recent years.

Related Articles Evans department also in June, continuing the universitys partnership with the Baltimore-based clothing brand founded by former Terps football player Kevin Plank.

Still, the athletic departments spending in the Big Ten before the operating expense cuts Evans says are coming.

Maryland spent $30.8 million on football in 2022, according to budget documents obtained by The Baltimore Sun in March.

That was less than half of conference rival Ohio State, tens of millions behind Penn State and Michigan and about $10 million below the Big Ten median.

As recently as the 2022 fiscal year, the department , according to records obtained by The Sun two years ago.

Now, Evans and Maryland athletics will search for more ways to keep up in college sports ever-changing landscape.

We will continue to lead boldly into the next era of collegiate athletics, to rise together to meet the forthcoming challenges and to continue to compete for conference and national championships, Evans said..

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