And why should they be? On the final day Friday of the league's annual business meetings, each of them pocketed a revenue-sharing check on the average of $17.3 million for their schools, easily an all-time high thanks to the first year of the SEC's 15-year TV contracts with ESPN ($2.25 billion) and CBS ($800 million).
Overall, the league had a 57 percent increase in revenue from last year, jumping from $132.5 million a year ago to $209 million.
SEC commissioner Mike Slive, the presidents and chancellors, and athletic directors had their first extended discussion about expansion Friday morning, especially in light of an Internet report on Thursday that cited sources in the Pac-10 saying they were inviting six Big 12 schools to join the league. Those schools are Texas, Texas A&M, Texas Tech, Oklahoma, Oklahoma State and Colorado.
Slive's unwavering mantra concerning expansion is that the SEC will be "strategic and thoughtful."
"Strategic and thoughtful can mean to do nothing no matter what anybody else does, or it can mean we'll do something," Slive said.
"The reason we've said as little as we've said (about expansion) is some other leagues might have some needs they need to fill. At the moment, we're pretty comfortable."
The SEC last expanded in 1992 when it added Arkansas and South Carolina, splitting into two divisions and adding a championship football game that has been so successful that many other leagues have copied it. If the SEC ever expanded, all it would take is approval of nine of the 12 presidents.
Like Slive, the league's presidents and the athletic directors feel that given the SEC's success, with football stadiums at 98-percent capacity and TV ratings skyrocketing, there's no need to panic about expansion.
"We have to be mindful of what's going on around us, and do what's appropriate, but we have a pretty good league right now," said Georgia athletic director Damon Evans. "It's interesting there's no one trying to attack the SEC and getting our schools. It's nice to be in a position where we don't have to pursue teams from other leagues. We're not going to overreact."
LSU chancellor Michael Martin said from every indication he sees, the status quo is a pretty good place for the SEC.
"This is a very, very successful conference," Martin said. "We are strong enough now, financially and academically, to handle almost anything."
Florida president Bernie Machen said the SEC's success is evident, especially after meeting with ESPN officials this week.
"ESPNU viewership went from 18 million to 70 million, and we (the SEC) are mostly the vehicle for that improvement," Machen said. "It was a wildly successful year and this was just the first year of our 15-year contract (with ESPN). Hopefully, we have enough sense not to mess up what we've got going."
Slive didn't directly address the rumors of a possible 16-team Pac-10, but he said the size of such a league might be an administrative nightmare.
"That's a lot of teams to administer," Slive said. "There's a lot of talk in the media about super conferences, but I've never heard the need for such conferences."