The NCAA basketball tournament is annually one of the biggest revenue generators for colleges and universities around the nation. USA Today estimated that around $375 million in revenue was lost nationwide because of the cancellation of March Madness. Simply put, athletic departments everywhere rely on the money to help keep the lights on.
https://www.ktsm.com/sports/college-sports/utep-new-mexico-state-preparing-for-tighter-budgets-after-cancellation-of-march-madness/
