Increased Big Ten Money Helps Iowa Beat '17 Income Projection By More Than $2M
The Univ. of Iowa athletic department saw a "total income" of just more than $115M in FY '17, which was $2M "higher than the estimated total" released with the '18 budget in July, according to Jeremiah Davis of the Cedar Rapids GAZETTE. Iowa saw "increases in Big Ten Conference money, foundation support, premium seat revenue and general income." Big Ten money increased from $34.3M to $36.1M, but that number was set at $50.4M for next year. The FY '17 report indicated the increase to $36.1M was due to "additional bowl income distributions." The general income was $8.4M more than budgeted due to the "transfer from the athletic reserve budget" to cover the $6.5M court settlement with former Senior Associate AD Jane Meyer and former field hockey coach Tracey Griesbaum, who "settled for the sum this summer following Meyer’s trial for suing the UI for gender and sexual discrimination." Iowa brought in "less money than projected" for the '17 budget in football and men’s basketball. Iowa’s biggest revenue generator "continues to be the Big Ten money, which derives primarily from the league’s television contract." That money has been the "biggest revenue generator each of the last three years." Men’s and women’s sports brought in $28.8M in total in '17, but the '18 budget estimates a slightly lower contribution at $28.1M, which means conference money "will far exceed revenue from teams" (Cedar Rapids GAZETTE, 10/12). Meanwhile, in Des Moines, Mark Emmert noted Iowa AD Gary Barta has been "diagnosed with prostate cancer and will take an extended medical leave to undergo surgery and treatment." He will return to work as "soon as his recovery allows." Deputy AD Barbara Burke will "assume leadership of the department in Barta's absence" (DES MOINES REGISTER, 10/11).