The ACC generated a record $706.6 million in gross revenue in 2022-23, distributing an average of $44.8 million to its 14 football-playing members.
That number is a 14.5% increase over the previous year and the second-largest year-over-year increase in league history. Yet despite the record growth, the ACC remains behind the Big Ten (nearly $880 million) and SEC ($852.6 million). That gap will grow larger in the coming years with new television deals for both the Big Ten and SEC bringing in more revenue.
That looming gap is one of the biggest reasons Florida State and Clemson have filed lawsuits against the ACC as they try to navigate their long-term futures.
According to the 990 form, released Thursday, the ACC saw a 9% increase in television media revenue as it entered its third year of full distribution for the ACC Network. The average distribution per school is 13.7% higher than the previous year and has increased 88.2% since 2015-16.
Notre Dame, a member in all sports but football, received $22.1 million.
Commissioner Jim Phillips earned $2.76 million for the 2022-23 fiscal year, while former commissioner John Swofford was listed as the second-highest paid at $2.59 million. Since his retirement in 2021, Swofford has made nearly $6 million from the ACC.
Though the ACC trails the Big Ten and SEC in revenue, that did not stop the league from having a banner year in 2022-23. The ACC won nine national titles, more than any other conference, and had teams advance to the Final Four in both men's and women's basketball.