For making/winning bowls and other athletic accomplishments (such as NCAA tournament money). Lots of stuff that is calculated separate from their ESPN contract.
So my guess is that we're slightly talking past one another. Their total revenue is WAY above just their TV contracts, but the most recently signed TV deal is for $21M/yr/team. The earnings go way up when you include other things, but none of those are guaranteed (though it pretty much is effectively a guarantee to have an SEC team in the playoff)