Univ. Of Iowa Athletics Revenue Came In Below Expectations
Univ. of Iowa athletics revenue came in "below expectations for the budget year that ended June 30 -- thanks, in part, to subpar football and basketball income," according to Vanessa Miller of the Cedar Rapids GAZETTE. Although the $116.2M in total Iowa athletics revenue for FY '18 was $839,111 below the budgeted $117.1M, it still "represented an increase" over '17 revenue. Total UI athletics revenue in '17 reached $115.1M. Big Ten contributions have "helped sustain a UI athletics program that saw football and basketball revenue fall short of expectations" in both '17 and '18. In the budget year that just ended, Iowa "football generated" $21.7M -- below its $23.5M budget and last year’s $24.1M total. Iowa football and basketball "overspent their budgets" in '17 and '18 -- with football in '17 overspending by $2.8M and then by more than $865,000 in the "most recent budget year." Meanwhile, both Northern Iowa and Iowa State athletics saw "income above budget and above last year’s totals." UNI brought in $14.4M, and ISU generated $83.6M -- which was $7.8M "above budget" and $5.6M "above last year." ISU was the "only one among the three schools to top its budget in football and basketball revenue" in '18 -- bringing in $10.7M for football, or $308,810 above budget (Cedar Rapids GAZETTE, 11/10).