Horns Up: Texas Athletics Posts Record Revenue, Expense Figures In '12-13
The Univ. of Texas had $165.7M in operating revenue and $146.8M in operating expenses for '12-13, which both are "highs for the school," according to figures cited by Steve Berkowitz of USA TODAY. UT's annual financial report to the NCAA shows that the school had an $8.5M increase in "annual operating expenses compared to what it spent" in '11-12 and a $2.4M increase in revenue. The year-over-year revenue increase is the "smallest that Texas has reported during the nearly 10 years" for which USA Today has compiled data for all D-I public schools. Nevertheless, UT's "financial might remained on display" in '12-13, as its operating expense total "in all likelihood will represent another record for NCAA public schools." UT's athletics contributions in '12-13 declined by about $3.3M to $37.4M. However, the $37.4M figure is "still greater than the total operating revenue" that all but about 65 D-I public school athletic departments had in '11-12. Additionally, UT "saw increases in its ticket sales revenue and the royalty and licensing revenue that includes money from the Longhorn Network." UT reported $60.9M in ticket sales revenue in '12-13 and $33.4M in royalty and licensing revenue. Those figures in '11-12 were $59.2M and $28.7M, respectively (USA TODAY, 1/31). In Austin, Brian Davis writes UT men's AD Steve Patterson "now has tangible proof his department has some work ahead." Patterson this week "laid out an ambitious agenda" and "wants to raise Texas’ annual revenue target" to $200M (STATESMAN.com, 1/31).