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Tournament payouts

How do they split up that revenue? I assume the teams who appear get a larger share than those who don't - and the teams that go farther in the tournament get more, as well.

$22.4 million would be $1.8 million per team if they split it equally.
 
I believe both the PAC-12 and the Big Ten split their tournament payouts equally among all teams in the conference.
 
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