OT: Ohio State 38 million dollar athletics budget deficit

[rutgersdave]

Ohio State reports athletics budget deficit of nearly $38 million from 2024 fiscal year

The Ohio State athletic department's budget deficit from the 2024 fiscal year was $37.7 million, according to figures it submitted to the NCAA.

www.dispatch.com

Ohio State’s athletic department reported an operating deficit of nearly $38 million during the most recent fiscal year, according to an annual financial statement submitted to the NCAA.

The athletic department spent a record $292.7 million from July 1, 2023, to June 30, 2024, while it also saw a dip in overall revenue.

It brought in $254.9 million in total operating revenues over the period, a decline of $24.6 million from the previous fiscal year, contributing to the budget shortfall.

 

[e5fdny]

To paraphrase Cardell Jones:

“Bills? We ain’t here for bills.”

 

[RUinBoston]

Ohio State reports athletics budget deficit of nearly $38 million from 2024 fiscal year

The Ohio State athletic department's budget deficit from the 2024 fiscal year was $37.7 million, according to figures it submitted to the NCAA.

www.dispatch.com

Ohio State’s athletic department reported an operating deficit of nearly $38 million during the most recent fiscal year, according to an annual financial statement submitted to the NCAA.

The athletic department spent a record $292.7 million from July 1, 2023, to June 30, 2024, while it also saw a dip in overall revenue.

It brought in $254.9 million in total operating revenues over the period, a decline of $24.6 million from the previous fiscal year, contributing to the budget shortfall.

reporting $0 in revenue from student fees. Kudos to them for that....unless it's burried somewhere else I'm not seeing.

https://news.osu.edu/download/433afdc8-737e-4298-8004-a5fc8ca5dac4/fy24ncaamembershipreportfinal.pdf

 

[rutgersdave]

If Ohio State is losing money in college athletics then 98% of colleges are losing money in college athletics.

 

[NickRU714]

Dam greedy kids causing another huge deficit for little innocent athletic departments.....

 

[Local Shill]

There are some factors such as only 6 home games (they'll have 8 this year) and Holtmann's huge buyout But yeah, it was atill kind of surprising

 

[Knight Shift]

There are some factors such as only 6 home games (they'll have 8 this year) and Holtmann's huge buyout But yeah, it was atill kind of surprising

6 games only cost them $14 million (that's what they make per game). What does Rutgers make per game?

 

[Knight Shift]

To paraphrase Cardell Jones:

“Bills? We ain’t here for bills.”

Cardale went back to pay the bills.





Doing well in life:
Among other things:
FounderFounder
Cardale Jones Fund for Adolescent and Young Adult Cancer Research · Full-timeCardale Jones Fund for Adolescent and Young Adult Cancer Research · Full-time Jan 2019 - Present · 6 yrs 1 moJan 2019 to Present · 6 yrs 1 mo Columbus, Ohio, United StatesColumbus, Ohio, United States

• • Passionately strives to uplift and promote namesake charitable fund, which has provided over $300,000 to research and programmatic support for adolescent and young adult (AYA) cancer research with the Ohio State Comprehensive Cancer Center James Medical Hospital. Prioritizes advocacy for vital resources for cancer patients aged 13-35.

https://www.linkedin.com/in/cardale-jones-95850b224/

https://thespun.com/big-ten/ohio-state-buckeyes/cardale-jones-play-school-tweet-graduation

 

[Knight Shift]

reporting $0 in revenue from student fees. Kudos to them for that....unless it's burried somewhere else I'm not seeing.

https://news.osu.edu/download/433afdc8-737e-4298-8004-a5fc8ca5dac4/fy24ncaamembershipreportfinal.pdf

Seems to be true
Student Fees $0 Input student fees assessed and restricted for support of intercollegiate athletics.

Some interesting items
Program, Novelty,
Parking and
Concession Sales
$10,574,430

Royalties, Licensing,
Advertisement and
Sponsorships
$34,141,289

Athletics Restricted
Endowment and
Investments Income
$7,063,436

Indirect Institutional
Support
$0

Direct
Institutional
Support
$470,456 Input direct funds provided by the institution to athletics for the operations of
intercollegiate athletics including:
Unrestricted funds allocated to the athletics department by the university (e.g.
state funds, tuition, tuition discounts/waivers, transfers)
·
· Federal work study support for student workers employed by athletics.
Endowment unrestricted income, spending policy distributions and other
investment income distributed to athletics in the reporting year to support
athletic operations. Athletics restricted endowment income for athletics should
be reported in Category 17.
Less -
Transfers to
Institution
-$470,456

Of the $54M in Ticket sales (only sales greater than $1M):
Football $47,853,040
Men's Basketball 4,901,472

 

[Knight Shift]

Texas says hold my beer. But they are in the green.

Texas athletics department topped $300 million in revenue and operating expenses in 2024

Texas athletics both generated revenue and had operating expenses of more than $300 during the fiscal year of 2024.

www.usatoday.com

 

[Knight Shift]

Of the $54M in Ticket sales (only sales greater than $1M):
Football $47,853,040
Men's Basketball 4,901,472

Rutgers 2024 Ticket sales:

Ticket sales
FY2024: $14,733,345

 

[T2Kplus20]

If Ohio State is losing money in college athletics then 98% of colleges are losing money in college athletics.

Their payroll is booming. Maybe college football needs a salary cap?

 

[Miggins]

reporting $0 in revenue from student fees. Kudos to them for that....unless it's burried somewhere else I'm not seeing.

https://news.osu.edu/download/433afdc8-737e-4298-8004-a5fc8ca5dac4/fy24ncaamembershipreportfinal.pdf

Looks like Ohio State charges for football student tickets ~$400 per season and sell ~20,000 student tickets. So roughly they are collecting $8 million year from the students. Not directly a "student fee" but effectively a "student fee"

 

[satnom]

The vast majority of athletic departments spend every last penny [and then some] and don’t report a profit.

GO RU

 

[Knight Shift]

Looks like Ohio State charges for football student tickets ~$400 per season and sell ~20,000 student tickets. So roughly they are collecting $8 million year from the students. Not directly a "student fee" but effectively a "student fee"

Good point.
We may suppose there is a rabid demand for Ohio State football tickets.
Rutgers student tickets are free (think they still are). Would there be demand if there was a charge of a few hundred dollars?

 

[Panthergrowl13]

Multiple stories/articles today in Pennsylvania about concerns from faculty, staff and students at Penn States 19 Branch Campuses and the need for the university to reduce costs this year alone of at least $54 million. Situation is getting worse and some Penn State Branch campuses have seen a student body reduction of 50% or more. Many students living close to a branch campuses can commute, its like having Penn State in your back yard. As the Baby Boom generation had a profound effect on schools so will the "Baby Bust" generation have the same effect only in a negative fashion.

Penn State to remodel Beaver Stadium at a cost of $700 million which will only be used 7 times a year. Does Penn State need a new field house. Million dollar HC and staff salaries,Taj Mahal athletic facilities and growing costs of NIL and Transfer Portal.

I think the primary job of a state university is education vs winning a National Championships.

HAIL TO PITT!!!!

 

[Ridge 22]

If Ohio State is losing money in college athletics then 98% of colleges are losing money in college athletics.

Easy fix. Cancel all sports other than football and mbb. But the same people complaining about the deficit are the first who will scream about canceling those programs

 

[e5fdny]

Easy fix. Cancel all sports other than football and mbb. But the same people complaining about the deficit are the first who will scream about canceling those programs

Maybe not all, but if it isn't on TV...🤷‍♂️

Tree falls in the forest and all that.

 

[DJ Spanky]

Time for Ohio State to pull the plug on athletics. I bet the local press in Ohio is excoriating their athletic department over this.

 

[rutgersdave]

Star ledger reveals Rutgers loss but doesn’t mention that all colleges lost money on their sports.

 

[LETSGORU91]

Time for Ohio State to pull the plug on athletics.

Afterwards we can buy their fieldhouse at a steep discount and ship it here.

 

[LotusAggressor]

Will there be an untrue hatchet job from the Columbus Dispatch that will get the AD fired?

 

[Shelby65]

Star ledger reveals Rutgers loss but doesn’t mention that all colleges lost money on their sports.

Hundreds of wrongs don’t make a right

 

[NickRU714]

Afterwards we can buy their fieldhouse at a steep discount and ship it here.

We should have bought the Silverdome on the cheap.
Talk about an indoor practice facility.

 

[PSU_Nut]

Multiple stories/articles today in Pennsylvania about concerns from faculty, staff and students at Penn States 19 Branch Campuses and the need for the university to reduce costs this year alone of at least $54 million. Situation is getting worse and some Penn State Branch campuses have seen a student body reduction of 50% or more. Many students living close to a branch campuses can commute, its like having Penn State in your back yard. As the Baby Boom generation had a profound effect on schools so will the "Baby Bust" generation have the same effect only in a negative fashion.

Penn State to remodel Beaver Stadium at a cost of $700 million which will only be used 7 times a year. Does Penn State need a new field house. Million dollar HC and staff salaries,Taj Mahal athletic facilities and growing costs of NIL and Transfer Portal.

I think the primary job of a state university is education vs winning a National Championships.

HAIL TO PITT!!!!

Last time I checked Penn State Athletics was self sufficient. For FY 2024 Penn State had $220,758,927 in revenue with $0 in Institutional support or student fees against $215,108,075 in expenses and ending up $5,650,852 surplus. Maybe you should look in the mirror at Pitt who spent $120,859,403 while only having $75,663,448 in revenue losing a total loss of $45,195,955.

It funny that you have an issue with a $700 million project for football that has $113,178,468 in revenue but have no issue with Pitt spending $240 million on a facility for Volleyball, Gymnastics and Wrestling that has a combined $7,017,751.

 

[e5fdny]

Multiple stories/articles today in Pennsylvania about concerns from faculty, staff and students at Penn States 19 Branch Campuses and the need for the university to reduce costs this year alone of at least $54 million. Situation is getting worse and some Penn State Branch campuses have seen a student body reduction of 50% or more. Many students living close to a branch campuses can commute, its like having Penn State in your back yard. As the Baby Boom generation had a profound effect on schools so will the "Baby Bust" generation have the same effect only in a negative fashion.

Penn State to remodel Beaver Stadium at a cost of $700 million which will only be used 7 times a year. Does Penn State need a new field house. Million dollar HC and staff salaries,Taj Mahal athletic facilities and growing costs of NIL and Transfer Portal.

I think the primary job of a state university is education vs winning a National Championships.

HAIL TO PITT!!!!

Last time I checked Penn State Athletics was self sufficient. For FY 2024 Penn State had $220,758,927 in revenue with $0 in Institutional support or student fees against $215,108,075 in expenses and ending up $5,650,852 surplus. Maybe you should look in the mirror at Pitt who spent $120,859,403 while only having $75,663,448 in revenue losing a total loss of $45,195,955.

It funny that you have an issue with a $700 million project for football that has $113,178,468 in revenue but have no issue with Pitt spending $240 million on a facility for Volleyball, Gymnastics and Wrestling that has a combined $7,017,751.

 

[rutgersguy1]

 

[rufeelinit]

Mike Woodson might be next.

 

[Panthergrowl13]

Ohio State reports athletics budget deficit of nearly $38 million from 2024 fiscal year

The Ohio State athletic department's budget deficit from the 2024 fiscal year was $37.7 million, according to figures it submitted to the NCAA.

www.dispatch.com

Ohio State’s athletic department reported an operating deficit of nearly $38 million during the most recent fiscal year, according to an annual financial statement submitted to the NCAA.

The athletic department spent a record $292.7 million from July 1, 2023, to June 30, 2024, while it also saw a dip in overall revenue.

It brought in $254.9 million in total operating revenues over the period, a decline of $24.6 million from the previous fiscal year, contributing to the budget shortfall.

Additionally, the National Championship Game between Ohio State and Notre Dame posted a 12% loss in TV viewership from the previous year.

HAIL TO PITT!!!!

 

[Panthergrowl13]

Last time I checked Penn State Athletics was self sufficient. For FY 2024 Penn State had $220,758,927 in revenue with $0 in Institutional support or student fees against $215,108,075 in expenses and ending up $5,650,852 surplus. Maybe you should look in the mirror at Pitt who spent $120,859,403 while only having $75,663,448 in revenue losing a total loss of $45,195,955.

It funny that you have an issue with a $700 million project for football that has $113,178,468 in revenue but have no issue with Pitt spending $240 million on a facility for Volleyball, Gymnastics and Wrestling that has a combined $7,017,751

For the most part sports spending is out of control and I am glad PITT/UPMC spends more on research facilities which will bring in significantly more revenue for the University.

Pitt is involved in cutting edge health related research projects and is recognized as such by the amount of funding they receive annually from the National Institute of Health (NIH).

The Top 10 Universities receiving funding from the NIH last year are listed below:

1.0 Johns Hopkins - $843 million
2.0 UC San Fransisco - $789 million
3.0 University of Pennsylvania - $703 million
4.0 Duke University - $701 million
5.0 University of Michigan - $698 million
6.0 University of Pittsburgh - $658 million
7.0 Washington University - $633 million
8.0 Columbia University - $632 million
9.0 Stanford University - $628 million
10. Yale University - $622 million

Last year Pitt received annual research funding amounting to $1.16 Billion.

Pitt continues to add to its research prowess with construction of a new $1.5 Billion 17 story Hospital in Oakland to be completed in 2026 featuring specialty care and advances in transplantation, cardiology, neurology etc. In fact Pitt recently received research funding and will partner with Stanford University and Carnegie Mellon to explore the possibility and viability of a total eye transplant.

Pitt is recognized as an important part of the Pittsburgh community and receives generous contributions from its alums/friends and business community which has allowed Pitt's endowment to grow to $ 5.68 Billion.

Again Penn State can spend $700 million for a remodel on Beaver Stadium which will be used only 7 times a year. Pitt is not going to build a new football stadium in Oakland but will spend $1.5 Billion for a Hospital (Used 24/7) to attract more research funding.

I enjoy Club Seating at Acrisure Stadium for Pitt home games and I assume Penn State will have additional club seating at Beaver Stadium once the $700 million remodel is complete.

By the way Max has a New TV series called "The PITT" about an ER in Pittsburgh. I was wondering if you caught any episodes.

HAIL TO PITT!!!!

 

[rutgersguy1]

Gonna just throw this here as it’s budget related with regards to schools paying players in the future.

 

[e5fdny]

Gonna just throw this here as its budget related with regards to schools paying players in the future.

View embedded media

We're not there yet...

But soon.

 

[koleszar]

Looks like Ohio State charges for football student tickets ~$400 per season and sell ~20,000 student tickets. So roughly they are collecting $8 million year from the students. Not directly a "student fee" but effectively a "student fee"

Here at Liberal U. all students have equal access to all opportunities, then they bitch about everyone sharing the burden to pay for those equal opportunities.

 

[RU#1fan]

Must have been that darn Fieldhouse.