Latest news with #Knight-NewhouseCollegeAthleticsDatabase
Yahoo
07-05-2025
- Business
- Yahoo
Texas athletics totals $331.9 million in revenue in 2024 after move to SEC
The Texas Longhorns athletic department brought in an amazing $331.9 million in revenue during the 2024 fiscal year while spending $327.8 for its 21 sports and 558 student athletes. That's according to the Knight-Newhouse College Athletics Database and Texas, who have only been in the SEC for less than a full academic year, topped the new conference in revenue. UT was ahead of Texas A&M ($266.4 million), Georgia ($241.8 million) and Alabama ($234.8 million). Advertisement Texas spent over $65 million on football in FY '24, with almost $23 million of that going to coaching salaries. But that was more than balanced because the Texas football program football took in an incredible $204.7 million in revenue. No other SEC team topped $150 million in revenue. As a result, the Longhorn football program had a $138.9 million surplus in FY '24. Five SEC programs operated at a loss in FY '24: South Caroline, Mississippi State, Ole Miss, Missouri, and Alabama. Al others operated at a surplus, with Georgia boasting $47.5 million in surplus funds. This article originally appeared on Longhorns Wire: Texas athletics tops $331 million in revenue in 2024
USA Today
07-05-2025
- Business
- USA Today
Texas athletics totals $331.9 million in revenue in 2024 after move to SEC
Texas athletics totals $331.9 million in revenue in 2024 after move to SEC The Texas Longhorns athletic department brought in an amazing $331.9 million in revenue during the 2024 fiscal year while spending $327.8 for its 21 sports and 558 student athletes. That's according to the Knight-Newhouse College Athletics Database and Texas, who have only been in the SEC for less than a full academic year, topped the new conference in revenue. UT was ahead of Texas A&M ($266.4 million), Georgia ($241.8 million) and Alabama ($234.8 million). Texas spent over $65 million on football in FY '24, with almost $23 million of that going to coaching salaries. But that was more than balanced because the Texas football program football took in an incredible $204.7 million in revenue. No other SEC team topped $150 million in revenue. As a result, the Longhorn football program had a $138.9 million surplus in FY '24. Five SEC programs operated at a loss in FY '24: South Caroline, Mississippi State, Ole Miss, Missouri, and Alabama. Al others operated at a surplus, with Georgia boasting $47.5 million in surplus funds.
USA Today
24-04-2025
- Business
- USA Today
Kentucky planning overhaul of college athletics department into new school corporate entity
Kentucky planning overhaul of college athletics department into new school corporate entity Show Caption Hide Caption How coaches salaries and the NIL bill affects college football Dan Wolken breaks down the annual college football coaches compensation package to discuss salaries and how the NIL bill affects them. Sports Pulse The University of Kentucky is moving toward housing its athletics department under a new university corporate entity that school officials say will improve their flexibility to handle rising financial pressure from the proposed settlement of three athlete-compensation antitrust cases against the NCAA and Power Five conferences and related demands. Kentucky athletics director Mitch Barnhart and the university's executive vice president for finance and administration, Eric Monday, said they were unsure of whether the new entity – being called Champions Blue LLC – would be unique in college sports. But they said that, within the school's structure, it is being modeled on entities under which its hospitals and other medical services enterprises are housed. Implementation of the new athletics structure is pending approvals from the Kentucky board of trustees' athletics committee, which was meeting April 24, and the full board, which is scheduled to meet April 25. Kentucky's athletics department had nearly $202 million in operating revenue and nearly $197 million operating expense in its 2023-24 fiscal year, according to the annual financial report it submits to the NCAA. That puts the Wildcats among the top 15 publics schools in both categories, according to data compiled by USA TODAY Sports in conjunction with its partnership with the Knight-Newhouse College Athletics Database at Syracuse University. Barnhart said the athletics department estimates that its expenses for the 2025-26 fiscal year will increase by around $50 million because of the proposed class-action settlement, which failed to receive final approval from a federal judge on April 23 – although the judge is giving the principals 14 days to work out issues related to a component of the deal that the judge ruled is unfair to a sizable group of athlete plaintiffs. If approved, Division I schools would be able to start paying athletes directly for use of their name, image and likeness (NIL), subject to a per-school cap that would increase over time and be based on a percentage of certain athletics revenues. In addition, the NCAA's current system of team-by-team scholarship limits would be lifted and athletes would continue to be allowed to have NIL deals with non-school entities. Barnhart and Kentucky spokesman Jay Blanton said the estimated $50 million increase in expenses comes from its expected NIL payments to athletes (likely $20 million to $23 million), an increase in the number of athletic scholarships it awards ($4 million to $5 million), inflation, spending by the school in connection with efforts it can make to assist athletes with outside NIL deal and an expected loss of sponsorship revenue from companies that instead choose to make NIL deals with athletes. Monday and Barnhart said that the new entity would allow the athletics department to undertake a variety of business development opportunities and to offer pay and benefit programs to employees – and potentially to athletes – that it cannot under current university policies or cannot do so in an efficient manner. Barnhart and Monday mentioned public-private partnerships and a number of athletic facility and fan-experience projects. 'You've heard other departments talk about business districts and things like that,' Barnhart said. 'And those are conversations that are all on the table but really difficult to perform in our current structure. And so this gives us more flexibility to do that.' Wake Forest, Oklahoma and Kansas are among schools working on mixed-use projects that include new or refurbished athletics facilities. 'We've got some ideas on some things that we're going to have to run the run the traps on, so to speak, to say, 'Hey, does this work? Does it make sense? Can it produce the things we think are necessary for us to move forward?' Barnhart said. 'I do know this … in the old way of life, there were literally four to five buckets that you got all of your revenue from. We're going to have those four to five buckets become eight to 10 buckets, and we're going to have to figure out other ways to do our work.'
Yahoo
28-01-2025
- Business
- Yahoo
Texas athletics department topped $300 million in revenue and operating expenses in 2024
The University of Texas athletics department again has shown its status as a national college sports business leviathan, recording $331.9 million in operating revenues and $325 million in operating expenses during its 2024 fiscal year, according to its new financial report to the NCAA. The USA TODAY Network obtained the document Monday through an open-records request made in conjunction with its partnership with the Knight-Newhouse College Athletics Database at Syracuse University. This is the first time since the NCAA began its current reporting system in 2005 that a Division I public school has reported more than $300 million in both revenues and expenses in the same year. It also is the largest single-year spending total, exceeding the $292.3 million that Ohio State reported for fiscal 2024 in a disclosure that occurred earlier on Monday. However, a separate independent accounting report also obtained Monday through an open-records request showed several caveats to Texas' new figures. The largest of those on the revenue side was what the accountants' report described as a 'large one-time donation to fund the construction of the new Moody Center,' an on-campus arena that opened in spring 2022. Altogether, Texas reported receiving $133.9 million in contributions during a fiscal year ending Aug. 31, 2024 — nearly $48 million more than it reported receiving in fiscal 2023. The rise in contributions also was attributed to 'a general increase in pledge donations due to increased fundraising efforts, aided by the success of the football team' which went 12-2 during the 2023 season, won the Big 12 championship and played in a College Football Playoff semifinal. The precise donation amount for the arena was not provided, but the report stated that a $53.6 million increase in Texas' facilities expenses in 2024 was 'due to a $43 million payment on the Moody Center funded' in part through contributions. Similarly, Oregon reported $391.8 million in revenue for 2020, but that included more than $270 million as a contribution for the renovation of its track and field stadium. But even with $43 million taken out of Texas' 2024 revenue and expense figures, the totals are $288.9 million in operating revenue and $282 million in operating expense, not including nearly $2.8 million that the athletics department reported transferring to the institution. And those revenue and expense figures still are among the greatest single-year amounts recorded by a public school. Texas' final report to the NCAA shows that it sponsors 21 teams. Ohio State, for example, reports sponsoring 35 teams. Texas' figures for 2024 reflect its position over the course of its final year as a member of the Big 12 Conference. And it was due a full share of conference revenue for that year. The report from Texas' independent accountant shed light on other major differences between the department's 2023 and 2024 figures, and those do reflect the beginning of the Longhorns' affiliation with the Southeastern Conference. Among the revenue categories, Texas reported $68.8 million from royalties, licensing, advertisements and sponsorships. That represents a $14.1 million increase from 2023. The accountant report said this was due to a change in reporting methodology. 'Historically,' the report said, 'royalties and sponsorship revenue have been reported net of the related expenses. Based upon guidance from the NCAA, the Department now reports these revenues and related expenses on a gross basis as to not underreport earned revenues.' Connected to this was a $17.7 million increase in overhead and administrative expense that was partially attributed to the methodology change, but also to expenses for an additional home football game and other factors including 'an increase to the operating budget for the new Texas Studios, which replaced the Longhorn Network,' the accountant report said. The Longhorn Network was altered as part Texas' move to the SEC, which included a transfer of the rights to live events to the SEC Network. Texas' increases in pay to coaches (up by $7.1 million, compared to 2023) and in severance ($1.8 million) were more conventional. The accounting report said those were connected to a raise and amended contract for football head coach Steve Sarkisian that took effect Jan. 1, 2024, and buyouts from coaching changes in baseball and men's swimming. Sarkisian's pay from the school increased from $5.6 million for the 2023 season to $10.6 million for the 2024 season, including a $300,000 one-time payment in April 2024 This article originally appeared on USA TODAY: Texas athletics exceeded $300 million in revenue and operating expenses
Yahoo
27-01-2025
- Business
- Yahoo
Texas athletics department topped $300 million in revenue and operating expenses in 2024
The University of Texas athletics department again has shown its status as a national college sports business leviathan, recording $331.9 million in operating revenues and $325 million in operating expenses during its 2024 fiscal year, according to its new financial report to the NCAA. The USA TODAY Network obtained the document Monday through an open-records request made in conjunction with its partnership with the Knight-Newhouse College Athletics Database at Syracuse University. This is the first time since the NCAA began its current reporting system in 2005 that a Division I public school has reported more than $300 million in both revenues and expenses in the same year. It also is the largest single-year spending total, exceeding the $292.3 million that Ohio State reported for fiscal 2024 in a disclosure that occurred earlier on Monday. However, a separate independent accounting report also obtained Monday through an open-records request showed several caveats to Texas' new figures. The largest of those on the revenue side was what the accountants' report described as a 'large one-time donation to fund the construction of the new Moody Center,' an on-campus arena that opened in spring 2022. Altogether, Texas reported receiving $133.9 million in contributions during a fiscal year ending Aug. 31, 2024 — nearly $48 million more than it reported receiving in fiscal 2023. The rise in contributions also was attributed to 'a general increase in pledge donations due to increased fundraising efforts, aided by the success of the football team' which went 12-2 during the 2023 season, won the Big 12 championship and played in a College Football Playoff semifinal. The precise donation amount for the arena was not provided, but the report stated that a $53.6 million increase in Texas' facilities expenses in 2024 was 'due to a $43 million payment on the Moody Center funded' in part through contributions. Similarly, Oregon reported $391.8 million in revenue for 2020, but that included more than $270 million as a contribution for the renovation of its track and field stadium. But even with $43 million taken out of Texas' 2024 revenue and expense figures, the totals are $288.9 million in operating revenue and $282 million in operating expense, not including nearly $2.8 million that the athletics department reported transferring to the institution. And those revenue and expense figures still are among the greatest single-year amounts recorded by a public school. Texas' final report to the NCAA shows that it sponsors 21 teams. Ohio State, for example, reports sponsoring 35 teams. Texas' figures for 2024 reflect its position over the course of its final year as a member of the Big 12 Conference. And it was due a full share of conference revenue for that year. The report from Texas' independent accountant shed light on other major differences between the department's 2023 and 2024 figures, and those do reflect the beginning of the Longhorns' affiliation with the Southeastern Conference. Among the revenue categories, Texas reported $68.8 million from royalties, licensing, advertisements and sponsorships. That represents a $14.1 million increase from 2023. The accountant report said this was due to a change in reporting methodology. 'Historically,' the report said, 'royalties and sponsorship revenue have been reported net of the related expenses. Based upon guidance from the NCAA, the Department now reports these revenues and related expenses on a gross basis as to not underreport earned revenues.' Connected to this was a $17.7 million increase in overhead and administrative expense that was partially attributed to the methodology change, but also to expenses for an additional home football game and other factors including 'an increase to the operating budget for the new Texas Studios, which replaced the Longhorn Network,' the accountant report said. The Longhorn Network was altered as part Texas' move to the SEC, which included a transfer of the rights to live events to the SEC Network. Texas' increases in pay to coaches (up by $7.1 million, compared to 2023) and in severance ($1.8 million) were more conventional. The accounting report said those were connected to a raise and amended contract for football head coach Steve Sarkisian that took effect Jan. 1, 2024, and buyouts from coaching changes in baseball and men's swimming. Sarkisian's pay from the school increased from $5.6 million for the 2023 season to $10.6 million for the 2024 season, including a $300,000 one-time payment in April 2024 This article originally appeared on USA TODAY: Texas athletics exceeded $300 million in revenue and operating expenses
