The day after the game, it was announced that eight players from the Southwestern Conference (SWC) who had participated in the game would lose their scholarships; although each had completed their college sports career, they had not yet completed their college studies.[6] The SWC schools ended the players' scholarships because they had accepted payment for appearing in the Senior Bowl, with each of the 26 players on the winning team receiving $475 and each of the 24 players on the losing team receiving $343,[7] coming from 60 percent of the ticket sales.[6] While the players accepted payment knowing that their scholarships could be ended, Senior Bowl organizer Jimmy Pearre pointed out that the colleges "have made millions off these players".[6] The players and their college teams were:
This would prove to be the only edition of the Senior Bowl played in Jacksonville, as the game moved to Mobile, Alabama, in 1951 and has remained there since. In 1994, Gator Bowl Stadium was closed and demolished; it was replaced with Jacksonville Municipal Stadium, now known as TIAA Bank Field.