The post-Christmas tradition of college football bowl week probably won't be going away anytime soon.
According to an NCAA report that will be released Tuesday, bowl games paid more than half a billion dollars to universities and college football conferences for last season, accounting for a nearly $200 million leap in payouts from 2013.
The NCAA report states a record $505.9 million was distributed among schools and conferences represented in the 39 postseason Division I bowl games. The universities collectively spent $100.2 million to take part in the bowl games.
The figures represent a large increase from the previous year. Colleges and conferences received $309.9 million from 35 games in 2013. In 2012, $300.8 million was paid.
Lucrative television and media deals with the conferences in conjunction with the two semifinal bowls and College Football Playoff national title game are among the reasons for the increased payouts. ESPN pays $470 million a year to the schools and conferences involved with the College Football Playoff for the broadcast rights to the semifinals and title game.
The College Football Playoff replaced the Bowl Championship Series last season, with Ohio State beating Oregon in the national title game on Jan. 12.
The Associated Press contributed to this report.