The Univ. of Maryland's athletic department has "seen all too much red" in recent seasons, but it "appears to have turned a corner, eking out a modest operating surplus in the fiscal year ended June 30," according to Jeff Barker of the Baltimore SUN. While UMD had seen "millions of dollars in red ink in recent years and mounting debt," the school in its second season in the Big Ten is "receiving needed money plus hope -- and skyrocketing attendance -- from the men's basketball team." Five of the men's basketball team's six games at Xfinity Center "have sold out, and attendance is averaging 17,838." Merchandise sales also are "up significantly." The school said that royalty revenue from university-branded goods was up 44% in the last quarter "compared to the same period a year earlier." The annual operating revenue for Maryland's men's and women's teams was about $55.7M last year. UMD officials said that the athletic department ended FY '15 "with a surplus of $391,953" and paid off $5M of its accumulated debt to the university (Baltimore SUN, 12/19).
