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Thursday, November 7, 2024

2023 sees Albany County investing $6,123,836 in men’s basketball teams

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Toyin Tofade, MS, PharmD, BCPS, CPCC, FFIP,, President | Albany College of Pharmacy and Health Sciences

Toyin Tofade, MS, PharmD, BCPS, CPCC, FFIP,, President | Albany College of Pharmacy and Health Sciences

Albany County spent $6,123,836 on men’s collegiate basketball teams in 2023, representing a 9.2% increase from the previous year, according to the U.S. Department of Education.

Overall, basketball teams in the county received a total of $10,548,747, with men’s teams receiving $6,123,836.

Since 2010, the average sports expenses in Albany County have grown 17.7%.

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 Albany County Over Last 5 Years
YearBasketball team's expenditures% from grand total sport team expendituresTotal Sport Team Expenditures
2023$6,123,83614.1%$43,306,167
2022$5,609,54912.8%$43,927,670
2021$4,320,75611.5%$37,683,018
2020$5,369,35112.7%$42,294,816
2019$5,752,92612.6%$45,606,630

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