Penobscot County’s two universities invested $3,954,460 on their basketball teams in 2023, a 15.7% increase over the previous year, according to the U.S. Department of Education.
The county’s funding for the basketball teams comprised 12.8% of all money invested in sports teams in 2023.
The average sports expenses in Penobscot County have dropped 4.3% since 2010.
University of Maine stood out as the university in Penobscot County that received the most basketball funding during 2023. The institution received $3,629,668 – or 91.8% 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 | $3,954,460 | 12.8% |
| 2022 | $3,418,682 | 12.5% |
| 2021 | $2,588,894 | 13.7% |
| 2020 | $3,282,476 | 14.4% |
| 2019 | $3,038,089 | 13.2% |
