The move brings a level of parity with the men’s tournament and adds an incentive for schools to invest in their programs to an even greater extent.

The NCAA announced Wednesday that it has created a $15 million women's basketball fund to reward conferences for their teams making and advancing in the

Women’s basketball teams finally will be paid for playing games in the NCAA Tournament each March just like the men have for years under a plan approved Wednesday at the NCAA convention.

The organization approved “performance units” for women’s teams participating in March Madness after years of only paying men’s programs.

In a historic vote Wednesday at the NCAA convention in Nashville, the organization approved a plan to pay women's basketball teams for making the NCAA Tournament. Men's basketball teams have been reaping the benefits of the same revenue sharing plan for many years.

Now, so-called performance units, which represent revenue, will be given to women's teams playing in the tournament. A women’s basketball team that reaches the Final Four could bring its conference roughly $1.26 million over the next three years in financial performance rewards.

Beginning with the 2025 NCAA Tournament, women’s college basketball will finally receive financial “units,” just as the men’s teams have for years. Units are multi-million dollar payments the NCAA awards to conferences based on the number of games a given team plays in the March Madness tournament.

Women’s basketball teams will be paid for playing games in the NCAA Tournament each March just like the men have for years under a plan approved Wednesday at the NCAA convention