Luck Reiterates Stance On Likeness Compensation Hancock Talks Future Of CFP WVU Looking For Luck's Replacement Pitt Fires AD Steve Pederson Lochmann's Resignation Comes Amid UM Staff Shakeup Fired Pelini Slammed Nebraska AD Eichorst Hollis Concerned By Booze-Heavy Gamedays FAU Continues Big Bet On Football College Football Attendance Down In '14 Move March Madess To Help Regular Season Crowds?
OH STATE DOCUMENTS SHOW THAT ATHLETIC DEPT. REVENUES "SOAR"
Published October 19, 1999
Documents released by OH State Univ. (OSU) revealed that the school's "revenue from its athletic department soared" about $23M from the last FY, or 50%, to "nearly" $70M, according to Barnet Wolf of the COLUMBUS DISPATCH, who wrote that the increase is due "in large part to revenue from the Schottenstein Center, which opened last fall." The Schottenstein Center brought in about $18.5M, "nearly" $2M more than had been projected, and the OSU-branded credit- card deal with Bank One brought in another $1.6M. Additionally, money produced by marketing and promos doubled to about $695,991 and merchandising revenue experienced a "similar percentage increase" to $981,769. But while "revenue was higher, so were expenses, meaning the athletic department's profit for the year amounted to $57,553, down from nearly" $1M the previous year. Football and men's basketball are "the only OSU sports that are expected to make a profit this year" (COLUMBUS DISPATCH, 10/16).