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it was the p12 ...
Posted on: June 19, 2024 at 11:13:36 CT
tmcats KSU
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ucla and cal are both insolvent.
Athletic departments at the 10 public universities in the Pac-12 experienced an $81M "shortfall" last year, with “only five schools reporting an operating surplus,” according to Jon Wilner of the San Jose MERCURY NEWS. The 10 public schools in the Pac-12 closed out FY2022-23 -- the first without COVID policies for spectators -- with $1.22B in revenue and $1.3B in expenses. But the revenue figure includes $138.2M in campus support “through direct transfers and student fees.” Remove that support and the budget shortfall for the 10 public schools "soars to” $219.5M. When Stanford’s data is added -- the Cardinal was $33.3M in the red without campus support -- the total shortfall for 11 athletic departments climbs to $252.8M. Wilner noted USC did not make its athletic department budget for FY2023 available. The $252.8M shortfall without campus support does “not include an internal loan” of $31.6M to Arizona athletics from the university that “was booked as indirect, not direct, revenue.” The real deficit for the 11 athletic departments last year “was close to” $300M. Only “a handful” of athletic departments across the country “generate an operating surplus without relying on any support from central campus.” In the Pac-12, there is just one: Oregon, which produced a $3.8M profit in 2023. Arizona State, Cal, Colorado, Stanford and UCLA had deficits in excess of $30M when campus transfers and student fees “were removed from their revenue totals”
https://www.sportsbusinessjournal.com/Articles/2024/04/17/pac-12-finances-budget-shortfall
Edited by tmcats at 11:16:02 on 06/19/24
Athletic departments at the 10 public universities in the Pac-12 experienced an $81M "shortfall" last year, with “only five schools reporting an operating surplus,” according to Jon Wilner of the San Jose MERCURY NEWS. The 10 public schools in the Pac-12 closed out FY2022-23 -- the first without COVID policies for spectators -- with $1.22B in revenue and $1.3B in expenses. But the revenue figure includes $138.2M in campus support “through direct transfers and student fees.” Remove that support and the budget shortfall for the 10 public schools "soars to” $219.5M. When Stanford’s data is added -- the Cardinal was $33.3M in the red without campus support -- the total shortfall for 11 athletic departments climbs to $252.8M. Wilner noted USC did not make its athletic department budget for FY2023 available. The $252.8M shortfall without campus support does “not include an internal loan” of $31.6M to Arizona athletics from the university that “was booked as indirect, not direct, revenue.” The real deficit for the 11 athletic departments last year “was close to” $300M. Only “a handful” of athletic departments across the country “generate an operating surplus without relying on any support from central campus.” In the Pac-12, there is just one: Oregon, which produced a $3.8M profit in 2023. Arizona State, Cal, Colorado, Stanford and UCLA had deficits in excess of $30M when campus transfers and student fees “were removed from their revenue totals”
https://www.sportsbusinessjournal.com/Articles/2024/04/17/pac-12-finances-budget-shortfall
Edited by tmcats at 11:16:02 on 06/19/24
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it was the p12 ... - tmcats KSU - 6/19 11:13:36