NCAA Financial Reports: Texas Posts Largest Operating Budget Ever, Big Ten Schools In Trouble

Budget reports for college athletic programs in the 2024 fiscal year have been released over the past week, with several schools reporting record highs in revenue while others are deep in the red and finished the year at a deficit.

The 2024 fiscal year in the NCAA ran from July 1, 2023 to June 30, 2024.

Among the schools making headlines was the University of Texas, which reported the largest operating budget in history, generating $331.9 million in revenue and accumulating $325 million in expenses for the FY 2024, resulting in a $6.9 million surplus.

This marks the first time since the NCAA began its current reporting system in 2005 that a Division I public school reported more than $300 million in both revenues and expenses in the same year. The $325 million in expenses also marks the biggest ever recorded, surpassing the $292.3 million Ohio State reported a few days earlier for the 2024 fiscal year.

The $331.9 million in revenue reported by Texas is the second-highest ever, trailing the $391 million generated by the University of Oregon in 2019-20, which included a one-time $270 million donation to renovate their track & field stadium.

The revenue total marked a $61 million increase for Texas from last year, largely due to contributions. The Longhorns received $133.9 million in contributions in the 2024 fiscal year, up from $48 million in 2024. A significant part of that was a large one-time donation to help fund the construction of the Moody Center, an on-campus arena that opened in 2022.

Texas also reported $69 million in revenue relating to royalties, advertisement and sponsorships, up $14 million year-over-year.

OTHER NOTABLE SCHOOL BUDGET REPORTS

Ohio State

  • As previously mentioned, Ohio State accumulated $292.3 million in expenses compared to bringing in $254.9 million in revenue, resulting in a near $38 million budget deficit.
  • OSU’s revenue dropped by nearly $25 million from the 2023 fiscal year, partially due to playing only six home college football games after playing eight the season prior (FY2024 doesn’t include the 2024 season where they played eight home games).
  • Their expenses included $9.2 million in severance payments and benefits to past coaches, almost all of which was related to the mid-season firing of former head men’s basketball coach Chris Holtmann. Severance payments the previous year were just over $160,000.
  • Coaching salaries also increased from $45.2 million in 2022-23 to $54.3 million in 2023-24.
  • Football and men’s basketball were the only two sports to generate profit in 2023-24.
  • OSU said in a statement that past earnings, reserve funds and anticipated future earnings were projected to cover the shortfall.

Purdue

  • Purdue reported a $3.6 million surplus after generating $134.9 million in revenue and accumulating $131.3 million in expenses.
  • Football and men’s basketball operated at a $34.7 million surplus while the other 14 spots had a $8.1 million deficit.

Colorado

  • The University of Colorado generated $142 million in revenue in 2023-24, an increase of $117 million from the previous fiscal year. This number came in part due to a surge in football ticket sales under head coach Deion Sanders.
  • Colorado finished with a $10 million surplus after accumulating $132 million in revenue.
  • The school reported $31.2 million in revenue from football ticket sales, nearly double the previous year ($16.57 million), and a combined $16.7 million from merchandise, licensing, sponsorship and game-day parking and concessions (also nearly double the year prior).

Iowa

  • The University of Iowa had a $2.8 million operating surplus, generating $173.2 million in revenue (compared to $167.4 million and a $7.1 million surplus in 2023).
  • Iowa women’s basketball generated $3.2 million in ticket sales during Caitlin Clark‘s final season, which was “by far the most in Big Ten history.” The previous year, Iowa generated $1.4 million in ticket sales, which was a program record.

Indiana

  • Indiana University brought in a record $173.5 million in revenue, an increase of $28.8 million from the previous year.
  • The athletics department reported $176.6 million in expenses, an increase of $37.6 million year-over-year, resulting in a $3.1 million budget deficit.
  • IU generated $26.4 million from ticket sales (up $1.9 million from 2023), $23.6 million from donor contributions (up $4 million), and $50.8 million in media rights (up $3 million).
  • The biggest increase in expenses came from coaching salaries, which cost $32.5 million, an increase of $6.6 million, and $22.1 million was paid in severance, an increase of $18.5 million.

Missouri

  • The Missouri Athletics Director estimated the school is approximately $35 million below the average revenue generated by other SEC schools.
  • Mizzou reported $168 million in revenue and $183.2 million in expenses for a budget deficit of $15.2 million. In the 2023 fiscal year, they reported $141.5 million in revenue and expenses, ending up in the black by $1.

Michigan

  • The University of Michigan reported a $557K budget surplus with $238.86 million in revenue and $238.3 million in expenses.
  • The $238.86 million marks the highest revenue ever generated by Michigan, up from last year’s $229 million, when they reported a $4 million surplus.
  • Support staff and administration compensation accounted for $44.4 million of the revenue in 2023-24, up $3 million from 2022-23.
  • Coach salaries increased by $2 million up to $41.3 million, while athletic student aid ($33.9 million) increased by almost $1.4 million.
  • Michigan brought in nearly $59 million in ticket revenue, 95% of which came from football, men’s basketball and hockey.
  • UM also earned $50.8 million in media rights, received $44 million in contributions, and $34.4 million in royalties.

UCLA

  •  UCLA gave its athletic department $30 million during the 2024 fiscal year, which helped the department see a $14 million revenue increase, though they still reported an operating deficit.
  • With $179.89 million in operating expenses, UCLA had a $51.85 million budget deficit, the sixth straight year of operating deficits for the department. Over that span, UCLA’s deficit totals $219.55 million.
  • $15 million in expenses was geared towards preparing to join the Big Ten Conference.

Arkansas

  • Arkansas reported an all-time high $170.6 million in revenue for the 2024 fiscal year, surpassing the $167.3 million in 2023.
  • The Razorbacks had $167.3 million in expenses, resulting in a $3.5 million surplus—an improvement after a surplus in the $800K range last year.
  • Arkansas’ contributions dropped more than $4 million to $29.2 million, and media rights revenue was roughly the same at $37.2 million, but ticket sales saw increases of more than $2 million.

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OldFatSlow
3 days ago

 “…Buckeyes notably winning the college football championship title.”

Didn’t Michigan win it during this budget cycle being reported.

Admin
Reply to  OldFatSlow
3 days ago

Hmmmm I think you’re right.

This Guy
3 days ago

Now that these athletic departments are being run like businesses, donating seems like such a complete waste (for football and basketball). I don’t give the Philadelphia eagles donations to help the team do better, they have to earn fandom and earn my revenue.
These schools that are nearly completely dependent on large donations and boosters are going to be in for a harsh reality with all of that dries up and they don’t have that comfortable cushion anymore.

Water Reflects Life
3 days ago

Amazing how college athletic departments claim they’re “broke” while handing out $10 million coaching contracts and eight-figure severance checks. Guess “fiscal responsibility” is just for the non-revenue sports. UCLA should be on life support.

Last edited 3 days ago by Water Reflects Life
CreedKo
Reply to  Water Reflects Life
3 days ago

Many are broke…..

The university announced it has contributed $40 million to its athletics department, including $25 million in direct support and a $15 million internal loan. The loan to athletics was issued to cover an operating deficit for the 2024 Fiscal Year.”

https://abc17news.com/sports/mizzou-tigers/2025/01/15/university-of-missouri-announces-40-million-in-contributions-to-athletics-department/?fbclid=IwY2xjawIP6ghleHRuA2FlbQIxMQABHTF5dNQKiqSVaZ-S9gLFz04Fg6RMrLVCssSKesRQ4aSV6a1nv32Kb-1W-g_aem_wCSk4kEtkhAGrqEjsWNBEw

I float
Reply to  CreedKo
3 days ago

Why?!?! $40M could fund so many programs, provide financial aids to needy students at lower middle classes, and upgrade lab equipment and provide supplies. Boy, these “universities” really have their priorities straight….. funding athletics over academics.

Oldmanswimmer
Reply to  I float
2 days ago

I agree with you wholeheartedly, but the sad truth is that donations to the Universities’ academic programs often increase significantly with athletic success. Alumni love winners. I remember a conversation with the head of development for an elite ACC school who was saying that donations of all categories rose by 50% after they won a national title in a sport with a round orange ball.

Andrew
3 days ago

All this to not have a legitimate ring since 2017💀😭🫵😂

2018. Safesport pedophile diver
2019. Choke vs Cal
2021. Safesport pedophile diver
2022. Another choke vs Cal
2023. Irrelevant
2024. Horrid

Kono
3 days ago

Texas vs. B1G return on investment is comical.

I float
4 days ago

Here’s an unpopular thought: Let all the athletic departments be run like a for profit business, treat athletes as assets that make money for the department, and pay them based on their contributions to the bottom line and train them to be professional athletes in the future. Then use the profits from the department to reinvest in athletic equipment and buy future talents, and also divert 50% of the earnings to subsidize academic departments that might be underfunded. Given the unstable fundings for R&D, maybe using some of that to fund future cures for cancer, Alzheimer’s, etc.

This way, everyone wins.

Sparkle
Reply to  I float
3 days ago

And when swimming gets cut in this scenario because it’s not generating any profits? Then what?

no-name
Reply to  Sparkle
3 days ago

That is when you switch NCAA swimming to Long Course and copy the Olympic format(and start generating revenue)

Sparkle
Reply to  no-name
3 days ago

Oh right – the reason millions of more people aren’t watching NCAA swimming is because it’s in SCY not LCM. You’re a genius

no-name
Reply to  Sparkle
3 days ago

That is correct(coupled with marketing strategy factors). Note: If the Olympics were switched to Short Course(viewership interest would collapse).

Patrick
Reply to  no-name
3 days ago

Nobody watches swimming except people with a swimming background. And in the USA SCY is the most exciting format there is. There is no revenue or viewership to be gained here by switching to LCM.

No-Name
Reply to  Patrick
3 days ago

People do(and will) continue to watch LCM via the great Olympic format. SCY is not exciting at the college level(it is a viewership mess of walls and underwaters – flipping back and forth). LCM(Olympic format – w/ correct marketing) is 100% the correct direction for NCAA swimming.

Coach
Reply to  No-Name
3 days ago

This is an incredibly bad take
How many schools in the country have permanent access to a long course pool on campus
Outside of states with outdoor options, and schools with enormous football budgets, it’s just not a common thing
Where would host dual meets for these teams?

Even if you do have a long course pool, do you have a second pool for warm up/down. Even less schools fit now.

Next who are the people who don’t watch college swimming now but would if it was long course?
You’d need at least 1000s of extra people to generate any revenue and 100s of thousands to generate revenue to cover the cost of building a… Read more »

No-Name
Reply to  Coach
3 days ago
  1. Dual meets would become a thing of the past(3 or 4 major events per season).
  2. The fans of Olympic format would watch (notice I said marketing would also be required).
  3. The Major Division 1 have access to facilities. Business($$$) can be painful at times – and naturally some programs would be eliminated in the short term.
  4. This is actually a great take and needs to happen quickly. Note: Michael Phelps never entertained anyone with SCY(all underwater – actually not even really the same sport)
  5. Lastly, Think of how horse racing structures the Triple Crown(see it now?)
thezwimmer
Reply to  No-Name
2 days ago

I really hope you’re a troll account.

People don’t watch Olympic swimming because it’s Long Course – they watch it because it’s the Olympics! In the same sense that I don’t normally watch marathon or rowing races on TV, but I happily tune in every 4th summer.

Last edited 2 days ago by thezwimmer
No-Name
Reply to  thezwimmer
2 days ago

Perhaps you should request they switch the Olympics to HalfCourt SCY(70% underwater sport) – and watch the sports total collapse(from the top down). It is really sad that no one has figured out how to market swimming outside of the Olympics.

I float
Reply to  Sparkle
3 days ago

Supply and demand. If it gets cut, it is like a typical layoff. If swimming is meant to survive on the college level, then it has to be reimagined to generate revenues. Or cut costs.

I float
Reply to  Sparkle
3 days ago

Hate to tell you, but if college athletics is no longer about learning and academics, but about earning a pay check, then market economics should dictate that those who can’t contribute to the bottom line should be laid off, and do something else. In this case, be a student and learn!! Get a degree and get a job afterwards.

That, my friend, is real life that all of us learn as we grow up.

Water Reflects Life
Reply to  I float
3 days ago

If we flipped the switch and made athletic departments for-profit businesses tomorrow, the bankruptcy courts would be jammed for a decade. These programs spend like Fortune 500 companies but operate with the financial discipline of a freshman with their first credit card.

I float
Reply to  Water Reflects Life
3 days ago

Perfect example!!!! How the heck are the colleges supposed to teach “life lessons” if they themselves can’t handle fiscal responsibility? They spend lavishly on athletes and the theory was that the money from TV and merchandising will help colleges make money to defray the costs of other non revenue sports and flow back to school for academics.

Now we are finding out that this isn’t the case at all, but they are actually running a deficit. And that is before they have to start paying the athletes, which will drain more money.

So maybe it is time for colleges to start what they preach: learn life lessons and be responsible (fiscally in this case).

Oldmanswimmer
Reply to  I float
2 days ago

The number of schools that could run a profit from their “revenue” sports is so small as to be comical. Most schools run a deficit.

Shane Stender
4 days ago

University of Iowa runs an operational surplus but cancelled swim and dive teams due to financial issues? We need an article that compares colleges with surplus that have dropped swim and dive programs. They need to be exposed for lack of support for an olympic sport.

no-name
Reply to  Shane Stender
3 days ago

NCAA(division 1) can not continue swimming Short Course and expect to be compared to the great Olympic sport of Long Course Swimming. NCAA need to switch to Long Course.

About James Sutherland

James Sutherland

James swam five years at Laurentian University in Sudbury, Ontario, specializing in the 200 free, back and IM. He finished up his collegiate swimming career in 2018, graduating with a bachelor's degree in economics. In 2019 he completed his graduate degree in sports journalism. Prior to going to Laurentian, James swam …

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