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.

Men’s basketball teams now receive 24% of the media rights deal, which is $8.8 billion over eight years, starting this year. Women’s basketball is valued at $65 million per tournament in the NCAA’s new media rights deal with ESPN — roughly 10 times more than in the contract that ends this year.

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.