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March Madness has always been about more than just basketball. It's drama. It's chaos. It's dreams colliding with buzzer-beaters. But beyond the wild finishes and Cinderella runs, there's a business machine in the background-one that hasn't always split the profits fairly.
For years, the men's NCAA Tournament has been the cash cow. With multibillion-dollar media deals and a generous performance-based payout system, the money flows. Meanwhile, the women's side has operated in the shadows, even as its audience-and impact-has exploded.
Now, in 2025, the NCAA is making moves to address the gap. A newly introduced "unit system" gives women's programs a way to earn revenue based on tournament performance-just like the men. Each win means dollars back to the school. But there's a catch: women's units are worth about a third of the men's. It's a start, but far from equal footing.
The dollars behind the Madness
The men's tournament still brings in most of the money-thanks in part to its $8.8 billion TV deal with CBS and Turner. Compare that to the women's side, which is bundled with 39 other championships in a $920 million NCAA-ESPN deal. Even though women's basketball s for over half of that value, there's no standalone contract. No dedicated visibility. And definitely not the same payout.
Visibility affects everything-from endorsement deals to recruiting to sponsorships. So while players like Caitlin Clark and Angel Reese have turned into household names, the infrastructure hasn't caught up.
A shared stage, or just shared optics?
One of the bolder ideas on the table: a t Final Four weekend. That means the men's and women's tournaments sharing the same city, the same energy, and possibly, the same spotlight. Big East commissioner Val Ackerman is a vocal er. She sees it as a growth strategy, not just a PR move.
But others are skeptical. Coaches like Geno Auriemma and Kim Mulkey still when the NCAA cut women's regionals from four to two-forcing teams into grueling travel schedules, all in the name of cost-cutting. Their worry? That a shared Final Four could be more about logistics than legacy.
Either way, the earliest it could happen is 2032. Venues are already booked through 2031, and merging two of the biggest college sports events isn't exactly plug-and-play.
More eyes, same old pay
Here's what makes all this even more urgent: the audience is already here. Last year's women's national championship pulled in 18.9 million viewers on ABC. That's more than the men's final. That number isn't just impressive-it's historic. And it puts pressure on the NCAA to catch up.
While women's programs now receive about 26% of their media revenue deal, that's expected to grow to 41% by 2028. It's a move in the right direction, but considering the gap in actual dollar amounts, it's still a steep climb.
With young stars coming up and cultural momentum on their side, women's college basketball is building something bigger than a tournament run-it's building a brand. The NCAA can either fuel that growth or fall behind.