BIRMINGHAM, Ala >> The Southeastern Conference announced today it distributed an average of $51.3 million — up $1.4 million from last year — to its 14 member schools for the fiscal year that ended last August.

The SEC said it divided $741 million of total revenue among its members. That included $718 million distributed by the league office and $23 million retained by schools for travel and other bowl-related expenses. Those amounts were from the 2022-23 fiscal year.

In the previous fiscal year, the SEC distributed $721.8 million of total revenue.

The total distribution amount includes revenue generated from television agreements, bowl games, the College Football Playoff, the SEC football championship game, the SEC men’s basketball tournament, NCAA championships and a supplemental surplus distribution.

It doesn’t include $8.1 million in grants from the NCAA and SEC divided among the 14 schools.