He said that in 2017 the athletic department ran at a $47.4M deficit. This is the first time I ever heard this number. Is this true? If not I need to know why. And it can't be guesses I need to know facts as if I found out he did lie I plan to be very vocal ridiculing the writer Kevin Armstrong on this.
The $47 million number includes Direct Institutional Support, a loan from the University bank and student fees as revenue sources.
The student fees (about $11 million) are a budgeted line item. The budget also included about $11 million in Institutional Support and a $4.5 million loan.
The football program, all told, came in about $8 million in the red - that is, "budget to actual".
And, as we know, B1G revenue for '17 was about $40 million short of a current full share.