Sources: Oklahoma State Exploring AD-In-Waiting Football Drives Ohio State Revenue College Hockey Struggling To Grow Despite Talent Glut Pitt Officially Introduces New AD Heather Lyke Minnesota Works To Erase Athletics Debts UConn Struggling To Find Footing In AAC? Pitt Selects Heather Lyke As AD Pegula Investments Help Penn State Hockey Wichita State Leaving MVC Growing More Likely Domestic Light Beer Popular At Ohio State Football
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).