SEC schools to each receive record $31.2 million payout

The Southeastern Conference will distribute $436.8 million out of an NCAA-record $455.8 million in revenues between its 14 institutions, it was announced Friday.

Each league member will receive $31.2 million -- an increase of more than $10 million per school from last year's payout of $20.9 million per school.

The Big 12 will distribute "north of $250 million," sources told ESPN.

The SEC made $455.8 million in total revenue based on the revenue-sharing plan for the 2014-15 fiscal year, which ends Aug. 1. However, $19 million was retained by institutions that participated in bowl games last season.

By comparison, the Big Ten distributed $338.9 million during the 2013-14 fiscal year, according to IRS filings, the most recent data available.

The total amount of the distribution is composed of revenue generated from the SEC Network, televised football, bowl games, the SEC football championship, televised basketball, the SEC men's basketball tournament, NCAA championships and a supplemental surplus distribution.

The SEC also increased the fine for schools rushing the field to $50,000 for a first offense, $100,000 for a second offense and $250,000 for a third offense. The previous amount was only $5,000 for a first offense, $10,000 for a second offense and $25,000 for a third offense.