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SBD/Issue 192/Collegiate Sports
Univ. Of Michigan Athletic Department Budget To Exceed $100M
Published June 18, 2010
|Projected Revenues For '11 FY To Be $105M,
A $10.6M Increase From '09-10 Academic Year
The Univ. of Michigan athletic department budget next year is likely to exceed $100M "for the first time," according to Mark Snyder of the DETROIT FREE PRESS. In a budget approved by the Board of Regents on Thursday, projected revenues for the '11 FY "will be $105 million," a $10.6M increase increase from the '09-10 academic year. The budget likely will keep UM "among the nation's top revenue-producing athletic departments." UM "expects its expenses to rise as well," settling at $100.3 for a projected surplus of $4.7M. That figure "would be significantly lower than recent surpluses, including the 2010 fiscal year," which settled at $16.1M. UM Athletics CFO Jason Winters said that is because the '11 budget is the "first to start paying off the debt" on Michigan Stadium's $226M renovation project. The '11 budget "will take an $8.8 million hit for that." The creation of premium seating and luxury boxes at the stadium "should boost revenue by $11 million this year," and Winters said that there "still is time to sell" another $4M in premium seating (DETROIT FREE PRESS, 6/18). UM AD Dave Brandon noted that 75% of Michigan Stadium's luxury suites are "sold for the 2010 season." He said, "We're kind of at that moment where people start thinking about football in the fall. We can take them up there, and they can actually see what the facility looks like because it's 90 percent completed." But ANNARBOR.com's Brian Vernellis noted "one less home football game on the 2010 schedule means $4 million in lost revenue" (ANNARBOR.com, 6/17).