College football bowl game payouts were more than $500 million in 2014


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College football bowl games are very much alive and well, despite those that felt the College Football Playoff would kill bowl season.

The NCAA reported the official payout numbers for the 2014-15 bowl season, and it saw an increase of nearly $200 million from the previous year. According to the Associated Press, the NCAA's report will show that the 39 bowl games distributed $505.9 million to the participating schools and conferences. The total cost for all of the schools to travel to and take part in bowl games this year was $100.2 million.

This is a massive jump from the 2013-14 bowl season when schools paid $97.8 million and received $309.9 million in bowl payouts. The main jump in payout money comes from the TV deal for the seven College Football Playoff games.

ESPN pays $470 million for media rights each year for the seven Playoff bowl games -- the two semifinal games, the national championship and the four other New Year's games -- which is a huge increase from the $180 million they paid each year for the rights to the BCS. It is not specified exactly how much of that $470 million counts towards bowl payouts, but whatever it is, it certainly makes up a substantial portion of the $505.9 million.

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After the College Football Playoff set records for college football game ratings on cable, it's clear that all parties involved are very pleased with the new system.