Under the Equity in Athletics Disclosure Act, every school receiving taxpayer funds must share basic information with the Department of Education each year. The accounting procedures differ among schools. But the data offers a window into the financial state of the teams competing in the NCAA Tournament, as well as the impact that winning can have on the bottom line. For established, tradition-rich programs, going deep into the tournament makes little difference, said Andrew Zimbalist, a Smith College professor and expert on sports economics. The NCAA rewards schools for winning tournament games, but distributes the money over six years.
Conferences then force schools to share that money with other conference members.
So, for instance, every time Kentucky wins in late March, Vanderbilt gets a cut every year for the next six years. Kentucky probably could make a lot more money, too. Rupp Arena offers no luxury suites. The NCAA Tournament is more a tool of growth for obscure teams. Then, they started winning tournament games, educating the nation that there, in fact, is a college called Gonzaga.