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Thursday, November 21, 2024

Maine: Penobscot County’s men’s basketball teams budget increases 26.8% in 2023

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Dr. Joan Ferrini-Mundy President | University of Maine

Dr. Joan Ferrini-Mundy President | University of Maine

Penobscot County spent $2,205,686 on men’s collegiate basketball teams in 2023, representing a 26.8% increase from the previous year, according to the U.S. Department of Education.

Overall, basketball teams in the county received a total of $3,954,460, with men’s teams receiving $2,205,686.

Since 2010, the average sports expenses in Penobscot County have dropped 4.3%.

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 2020–21.

Men’s Basketball Team's Expenditures of Penobscot County Over Last 5 Years
YearBasketball team's expenditures% from grand total sport team expendituresTotal Sport Team Expenditures
2023$2,205,6867.2%$30,824,734
2022$1,739,5496.3%$27,427,645
2021$1,344,4007.1%$18,904,481
2020$1,658,8447.3%$22,756,643
2019$1,549,4526.7%$23,091,761

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