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SEC hands out record $309.6M for 2013-14

Published on NewsOK Modified: May 30, 2014 at 6:12 pm •  Published: May 30, 2014

DESTIN, Fla. (AP) — The Southeastern Conference will distribute a record $309.6 million in revenue to its 14 member institutions.

Commissioner Mike Slive announced the payout Friday at the SEC meetings.

The average amount received by each school, excluding $16.8 million of bowl revenue, was $20.9 million.

The revenue is generated from football and basketball television contracts, bowl games, the league's football championship game, the league's men's basketball tournament, NCAA championships and supplemental surplus.

The SEC also passed five proposals Friday, including:

— Instituting an automatic waiver for graduate-school transfers with less than two years of eligibility remaining, a move that should expedite the transfer process.

— Allowing the use of artificial noisemakers any time during football games except for when the center is over the football until the stoppage of the play.