The Univ. of Colorado athletic department recorded a “deficit of nearly” $9.9M for FY2023, thanks in part to a "lower than expected distribution from the Pac-12,” according to Brian Howell of the Boulder DAILY CAMERA. CU’s conference distribution came in at roughly $33.1M, “significantly less than budgeted.” CU also recorded “record numbers for operating expenses and revenue and a dramatic increase in direct institutional support.” CU showed a net loss of $9,086,178. Athletic department expenses in FY23 totaled “roughly” $127M and "revenue was just over" $117.1M. Previous record highs were $92.5M in expenses in FY19 and $89.99 in revenue for FY20 (Boulder DAILY CAMERA, 2/2).
BEAVER DOWN: In Portland, Nick Daschel noted Oregon State athletics produced a net deficit of $6.84M for FY23. Through June 30, 2023, OSU reported total revenues of $91,588,297 and expenses of $98,423,805. The gross revenue and expenses are OSU records, but the $6.84M deficit is not a record. OSU has produced "several larger annual deficits in the past," including $9.72M in FY14. The last time OSU had an athletics surplus was $1.28M in 2013. OSU spent $36.17M on coaches' salaries, which is up from $34.76M in FY22. As is typical, football and men’s basketball were the "only sports to produce a net profit." Football’s surplus was $16.51M, while men’s basketball’s profit was $754,033. Football generated $21.61M in media rights, followed by men’s basketball at $5.34M. OSU also received $10.82M from the Pac-12 in "non-media rights, most of it related to football." Ticket revenue for all sports was $9.95M, up a half million from 2022 (Portland OREGONIAN, 2/3).
