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.

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

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.