Follow the Money: Why JMU’s Move to the American Is a Quiet Win for UTSA’s Wallet
When James Madison accepted its invitation to the American Conference on Oct. 12, the first question I had as a Roadrunners fan wasn’t about Bridgeforth Stadium or the Dukes’ Playoff run. It was simpler: does this cost UTSA money? Based on what’s been reported so far, the answer is no, and it may help over time. But there are some caveats San Antonio fans should know about.
The buy-in protects UTSA’s check
The facts first. JMU joins as a full member no later than July 1, 2028. Multiple sources told Sports Business Journal the Dukes committed $23 million to get in, on top of the Sun Belt’s $5 million exit fee. JMU says private donors and corporate partners are covering both.
Here’s why that matters in San Antonio. Usually, adding another mouth to feed means smaller slices of the TV pie. This time, SBJ reports the entry fee won’t dilute current members’ payouts and that ESPN will chip in to make the rest of the league whole. Yahoo’s Ross Dellenger reported the same thing. The league itself went further in its official announcement, saying JMU’s membership was “structured to protect and enhance the value of the conference’s current membership” and that “current members’ distributions will be enhanced.”
Where UTSA actually stands
Here’s the honest part. UTSA still isn’t eating at the head of the table. According to the American’s 2024-25 tax filing, as reported by the Commercial Appeal, UTSA received about $7 million. That was the top payout among the 2023 newcomers, but well behind East Carolina ($12.6 million) and USF ($12.4 million). SBJ puts the average for the six newest full members at $6,535,868, compared with $11,902,992 for the six incumbents.
For JMU, The Athletic’s Chris Vannini reported an expected distribution of $6 million to $7 million, per Awful Announcing. That’s roughly triple the reported $2 million the Dukes got from the Sun Belt, and right in line with what UTSA’s class collects now.
The engine behind all of that is the American’s ESPN deal: a reported $1 billion covering ABC, ESPN networks and ESPN+, which the conference says extends through the 2033-34 academic year. The deal’s actual clauses for membership changes have never been made public, so treat anything you hear about “pro-rata” triggers as speculation.
And now the wrinkle. Early reports said JMU would get a full share right away. Dellenger later clarified that JMU’s full distribution would kick in at the end of a six-year integrated timeline, similar to UTSA’s class, though it could come sooner “depending on changes to the American’s media rights contract.”
My take: that’s the most important line for UTSA in the whole story. If changes to the ESPN contract can speed up JMU’s path to full shares, the same lever could speed up ours. That’s a conversation UTSA leadership should be loud about.
The budget math
Keep it in proportion. UTSA athletics reported $54.7 million in operating revenue and $53.4 million in expenses for fiscal 2025, according to its NCAA agreed-upon procedures report filed with UT System. In fiscal 2024, the prior year’s report showed $3.06 million in ticket sales and $4.2 million in non-media conference distributions. A league payout around $7 million is real money for a program this size. Protecting it is the win here.
Tickets and the Playoff pot
Tickets: Here’s the upside. A team fresh off a College Football Playoff trip is a marquee home date at the Alamodome. No 2028 schedule exists yet, and with 15 football teams UTSA won’t see JMU every year. My opinion: when the Dukes do come, that’s the kind of game that moves season-ticket packages, and our ticket line has room to grow.
Playoff money: Under the CFP’s 2026 revenue model, the Group of Five leagues reportedly split about 9% of the pot, around $1.8 million per school. Each Playoff team earns its conference $4 million plus travel money. The American lets the qualifier keep most of it: Tulane kept $6.1 million of $8 million, with the rest going into a league pool. Adding JMU makes the American’s claim on that automatic Playoff bid stronger. It also makes the bid harder for UTSA to win. I’ll take that trade, because a stronger league is better for recruiting.
More expansion?
Yahoo reports no other additions are imminent, and SBJ’s conference sources say the same. But SBJ also reports that Miami (Ohio) has pledged $30 million to enter the American, and that the league faces wide speculation it will add a 16th football member to even out schedules, possibly sooner if the Sun Belt pushes JMU out early. Those are reports, not invitations. Personally, I think a 15-team football league won’t stay that way for long, and every new entry check that protects existing shares is good news for UTSA.
Bottom line: UTSA’s check stays protected, the league’s brand gets stronger, and the Alamodome gets a new headliner. The ledger looks better.
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