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Saturday, November 23, 2024

2023 sees Norfolk city investing $5,663,683 in men’s basketball teams

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Javaune Adams-Gaston, Ph.D., President | Norfolk State University

Javaune Adams-Gaston, Ph.D., President | Norfolk State University

Norfolk city spent $5,663,683 on men’s collegiate basketball teams in 2023, representing an 8.3% increase from the previous year, according to the U.S. Department of Education.

Overall, basketball teams in the county received a total of $9,993,195, with men’s teams receiving $5,663,683.

Since 2010, the average sports expenses in Norfolk city have grown 110.2%.

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 Norfolk city Over Last 5 Years
YearBasketball team's expenditures% from grand total sport team expendituresTotal Sport Team Expenditures
2023$5,663,6838.6%$65,963,875
2022$5,231,7848.6%$61,158,335
2021$4,224,0659%$46,915,104
2020$5,083,7568.9%$56,978,528
2019$5,430,7639.4%$57,706,351

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