The University of Memphis athletic department expects its revenue from the American Athletic Conference to more than double after the league's new Media Rights deal goes into effect.

Memphis estimates it will receive about $5 million next year from conference distributions but expects that figure to increase to $8.5 million in fiscal years 2021-23, according to documents released ahead of Athletic Director Tom Bowen's presentation to the university's Board of Trustees Wednesday morning.

Memphis expects to receive about $3.34 million in conference distributions this year, which is similar to what it received in the fiscal year 2018 ($3.32 million) and fiscal year 2017 ($3.37 million).

U of M President M. David Rudd, who is part of the committee helping the AAC during its negotiations for a new media rights contract, shared in previous interviews that the deal is expected to be announced soon.

The AAC is currently in the sixth year of a seven-year, $126-million media rights deal that it agreed to with ESPN when the league was founded ahead of the 2013-14 school year. Its new media rights deal would not go into effect until 2020-21.

Revenue earned through media rights is a major financial advantage for Power Five conference schools in comparison to the Group of Five conferences.

According to USA TODAY, SEC schools received between $39.9 million and $42 million through the league's media rights contract during fiscal year 2017. During that same time, the Big Ten school distributed about $37 million per school and its schools expect that figure to rise above $51 million this year.

Every Power Five conference distributed at least $25.3 million per school during fiscal year 2017.

Bowen is scheduled to present a three-year plan for the athletic department to the Board of Trustees' Governance and Finance Committee Wednesday morning. Included in the documents released Friday were two proposals to help offset increasing expenses and capital projects for the department in future years.

One proposal involves raising student fees at the university, although they would remain within the median of the conference as well.

The other proposal would increase season ticket prices for football and men's basketball. Some season ticket prices for football games would rise by more than 70 percent by the 2023 season and terrace level seats for men's basketball would increase from $221 to $363 by 2023-24.

The pricing increase for current football season tickets is estimated to result in an additional $300,000 per year in revenue. Football tickets prices will remain in the median of the conference.

The adjustments to the price of Terrace Level men's basketball tickets would bring in an additional $400,000 of revenue.

The athletic department also estimates revenue from men's basketball ticket sales will increase by more than $2 million compared to last year moving forward now that Penny Hardaway is the team's coach.

The athletic department’s finances were supplemented by $12.4 million of direct institutional support and $7.29 million of student fees during fiscal year 2018.

"Taking into account the additional conference distribution, contractual guarantees for royalties & licensing, game contracts and conservative estimates in student and athletic fees and ticket sales, a new AAC Media Rights Distribution could result in reduced institutional support needed for athletics and a surplus of revenue to be allocated towards capital projects," Bowen's plan states.

Here are the impending athletic department capital projects listed for the next three to five years in the released documents:

Phase II of the football team's indoor practice facility project ($11.3 million)

A renovation of the school's track and soccer stadium ($7 million), as well as new lighting for the complex ($500,000).

A partnership with the city of Memphis to renovate and expand the Leftwich Tennis Center for use by the men's and women's tennis programs ($3 million). The school's tennis programs have been looking for a new home after The Racquet Club of Memphis announced in November it would be closing in 2019.

A re-design of the seating and configuration of the court at Elma Roane Fieldhouse ($2.8 million)

A renovation of the Larry O. Finch Center now that it's being used by the women's volleyball team ($750,000).

A project to level center field at FedEx Park due to "massive flooding" and replace the infield with turf, as well as upgrade the current scoreboard ($875,000).

An Olympic weight room upgrade ($550,000)

An upgrade of the Fogelman Rifle Range ($150,000)

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