ACC distributed a record $497.2 million during 2019-20 financial year, an increase of $42 million

The ACC distributed a record $497.2 million for the 2019-20 financial year, the highest gross revenue ever reported for the league, according to tax documents released Friday.

The revenue increased more than $42 million over the previous year -- thanks largely to its increased television and postseason bowl revenues. Television revenue increased from $288 million the previous year to $332.8 million, as the ACC Network launched in August 2019.

Postseason bowl revenue totaled $124.9 million, with Clemson making the College Football Playoff and Virginia playing Florida in the Capital One Orange Bowl. The league distributed an average of nearly $32.3 million per school among its 14 full-time members.

For the first time in history, each school's distribution topped $30 million. Clemson, with its CFP appearance that season, received the highest payout at nearly $37 million. Notre Dame, a member in all sports but football, has a different distribution and received $10.8 million for the 2019-20 fiscal year.

The 990 form released Friday shows revenue generated between July 1, 2019, and June 30, 2020 -- the timeframe before Notre Dame joined the ACC as a football member for the 2020 season as a result of the coronavirus pandemic. Notre Dame resumes its football independent status for the 2021 season.

The Pac-12 released its financial information Thursday, reporting nearly $403 million distributed to 12 schools. Its per-school average ($33.6 million) is slightly more than the ACC's.

The SEC, meanwhile, distributed $657.7 million for the 2019-20 fiscal year.