IRVING, TX (KSNT) – The Big 12 collected a record $426 million in revenue for the 2021-22 academic year.

That’s close to a 25% increase over the past year and 10% higher than its peak before the pandemic, which was $388 million. Big 12 board chair Lawrence Schovenac made the announcement Friday, the last day of the Big 12 spring meetings.

That increase is partially due to stadiums being at full capacity for the first time since the pandemic started, and KU’s March Madness championship. March Madness is the only NCAA championship that makes a profit.

Big 12 revenues increased 13 years in a row before the pandemic, according to the Associated Press. Schovenac expects revenue to increase again over the next two years, the final years of the conference’s media rights deal. That is also when BYU, Cincinnati, Houston and UCF will join. Oklahoma and Texas will leave to join the SEC no later than July 1, 2025.