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On Monday evening, the 2024 College Football National Championship will be held at NRG Stadium in Houston, Texas, as the Michigan Wolverines face the Washington Huskies.
A victory for either team will not only give them a championship trophy and a championship ring, but they will also get substantial prize money from the NCAA.
Let's look at how much a program earns for winning the College Football National Championship.
How much does a school get for winning the CFP National Championship?
According to MARCA, unlike in many tournaments, there is no specific amount of prize money for the National Championship winning team.
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Any money generated by a victory or an appearance in the National Championship game is not given directly to the schools participating. It is given to the conferences the teams who have made the National Championship game play in. This season, this will be the Big Ten and the Pac 12.
It is then up to the conferences to distribute the money. Some conferences distribute this money evenly between all their members, while others give more successful programs more of the money.
For every team that makes the College Football Playoff, their conference is given $6 million. The conferences of the teams who make the National Championship earn an additional $4 million.
But there are some perks to playing in the National Championship. The teams' expenses (accommodation, travel to Houston and the game, and food for the game) are covered.
Other rewards for winning the National Championship
Along with the trophy, the team that wins the National Championship will get a championship ring. These are a tradition in US Sports, but unlike the rings in the four major sports, the cost of these rings is capped at $415. This is due to NCAA rules preventing any school from spending more than $415 on each student-athlete.
The winning team also gets an invite to the White House to meet the US President.
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