tOSU athletics lost $38,000,000 last year

[Obliviax]

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

“While last year’s budget impact is not ideal and there were unique circumstances at play, we have a robust expense and revenue plan that has been implemented and have made great progress in this ever-changing landscape of college athletics,” Bjork said in a statement issued as part of a news release. “We will make sure we operate with a balanced budget moving forward.”​

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The release added that the department expects reserve funds, along with past and future earnings to cover the $37.7 million deficit.​

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Lower ticket sales contributed to the decline in revenues as the Buckeyes played only six football games at Ohio Stadium in fall 2023, their fewest home games since 2004.​

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The revenue from football tickets was $47.9 million, a drop-off of $16.5 million from when they had eight home games in 2022. They returned to a slate of eight games last fall and also hosted a first-round game in the College Football Playoff in December.​

 

[84Lion]

The price of success?

 

[SR108]

Just about any way you look at it, institutions of higher learning are really a hot mess.

 

[Nbergbuck]

It is probably a temporary thing. A big part of it was the buyout of the men's BB coach. OSU runs a huge athletic dept. They will be fine with the gold mine that is football. Smaller schools will struggle though. I see where Cleveland State just cut 3 sports. They are just above the minimum number of sports required to be in their conference. I predict that they drop down from D1 at some point.

 

[Lionsfan1000]

Not the definition of sustainable.

 

[Fletchster1]

Let's see the P&L for the sports aside from FB and MBB.

 

[bcspsu]

It is probably a temporary thing. A big part of it was the buyout of the men's BB coach. OSU runs a huge athletic dept. They will be fine with the gold mine that is football. Smaller schools will struggle though. I see where Cleveland State just cut 3 sports. They are just above the minimum number of sports required to be in their conference. I predict that they drop down from D1 at some point.

With conferences stretching from coast to coast and driving up travel costs, I wouldn't be surprised in the near future to see even the biggest schools making most of the Olympic sports into club teams or forming smaller regional conferences for these sports like the Big 10 hockey teams used to do before the Big 10 formed a hockey conference. It's absurd for these minor sports to travel 4000 to 5000 miles roundtrip and stay on week long road trips when they not only don't make money, but operate on a huge deficit.

 

[CJFisJoePaII]

Let's see the P&L for the sports aside from FB and MBB.

Non-Profit Universities (there are no "For-Profit Universities" in b2g or NCAA) don't generate "profits" by definition. Various areas of the University can generate "surpluses" or "shortfalls".... and in aggregate, the University itself operates at either a surplus or shortfall, but it doesn't operate at a "profit" or "loss". Many Universities have an "Endowment" which can help even out positive and negative cash flows over shorter periods of time. Public Schools (both State-Schools and State-Related schools) may have shortfalls funded by the state itself - it really depends on the school, state and each universities' "Charter" as to how operating shortfalls or surpluses are handled.

 

[rrdd2021]

Not the definition of sustainable.

If I'm reading this correctly, correct me if I'm wrong, it has more to do with only 6 home games in 2023 versus the usual 8 home games. Isn't 2023 the year of the deficit?

I read that they support 36 student sports - the most of any school and as we know, the only college money makers are CFB and MBB. It's going to be interesting to see if they start cutting programs that lose money and eat into the football program money

 

[Fletchster1]

Non-Profit Universities (there are no "For-Profit Universities" in b2g or NCAA) don't generate "profits" by definition. Various areas of the University can generate "surpluses" or "shortfalls".... and in aggregate, the University itself operates at either a surplus or shortfall, but it doesn't operate at a "profit" or "loss". Many Universities have an "Endowment" which can help even out positive and negative cash flows over shorter periods of time. Public Schools (both State-Schools and State-Related schools) may have shortfalls funded by the state itself - it really depends on the school, state and each universities' "Charter" as to how operating shortfalls or surpluses are handled.

I would hope the athletic departments are tracking Revenue and Cost of the individual sports.