The first 15-seed to ever advance to the Elite Eight in NCAA tournament history was Saint Peter's. (0:41)
One of the most endearing aspects of St. Peter's NCAA tournament run is the proportional size of the school's athletic budget compared to the schools that it has slayed in the NCAA tournament.
St. Peter's spent less on athletics than Kentucky. According to Rachelle Paul, the basketball budget at St. Peter is less than $250,000 and the lowest in the Metro Atlantic Athletic Conference.
St. Peter's plays North Carolina on Sunday for a chance at the Final Four. How do they divide the spoils from the run?
NCAA tournament money math is not very accurate, but it is safe to say that St. Peter will get at least $6 million in additional money from the three extra NCAA units. The league has the power to distribute the money over the next six years.
Paul would like to see St. Peter's get a little bit more.
MAAC Commissioner Rich Ensor, who is a St. Peter's graduate, acknowledges that the accomplishment is unprecedented.
The ultimate decision on how to fairly compensate St. Peter's is something that he would have to take up with my board, which is made up of MAAC presidents. There is a distribution system in place that allows for a modest slice of money for teams that have won the tournament. Improving basketball in the league is expected to be the focus of the rest of the excess money.
He doesn't think there's going to be a big prize. It is not my call. They tend to want to invest again.
The MAAC, which lacks the revenue of major football conferences, is transformed by a run like this. Since 2009, the MAAC has not received more than one unit in the NCAA tournament.
Every year, the MAAC is guaranteed one unit in the NCAA tournament. According to the NCAA, those units are worth $338,000. According to the NCAA, those units are paid out over six years. Each unit is worth at least $2,029,265 over the course of six years. This run is worth more than $8.1 million for the MAAC. How could a bigger slice of the money be used to help the program?
Paul said that it could change the program. It could help with recruiting and facility improvements. There are a million things we could use that money for.
According to the latest available tax documents, St. Peter's coach is paid nearly $266,000 per year. The possibility of him leaving for his alma mater, Seton Hall, looms in part because they can pay him more than St. Peter's.
According to Paul, the basketball staff at St. Peter's has four members who are not paid. The endowment at St. Peter's is less than the total amount of Kentucky coach John Calipari's contract. Paul said the modest basketball operating budget does not include things like paying officials, as raising money888-607-3166 is required for things that many have money allocated for.
She said that they have a ways to go to get to a point where they are comfortable not crunching numbers for every road trip. We are very conscientious about what we spend the money on. It only goes so far.
There will be a lot of scrutiny on how they are rewarded for their efforts when St. Peter's run ends.
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