OH STATE DOCUMENTS SHOW THAT ATHLETIC DEPT. REVENUES "SOAR"
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).