Indiana Hits All-Time High In Athletics Revenue In FY '18
Univ. of Indiana athletics reported revenues of almost $123M in FY '18, an "all-time high in one-year revenue" for the school and "more than double" the $61M-plus the department reported in '09 when AD Fred Glass took over, according to Zach Osterman of the INDIANAPOLIS STAR. IU’s athletic department reported $122,933,136 in revenues and $116,277,652 in expenses last year. Both are "record highs, and substantial increases" on IU’s '17 totals. The $6,655,484 net profit is IU’s "largest in terms of hard dollars" since the NCAA began distributing the financial reports more than 10 years ago. Ballooning TV contracts, conference-specific networks and other factors have "exploded revenues across the college landscape in the last decade-plus." Last year, IU reported nearly $41M in media rights, almost $5M in NCAA distributions and a further $12.62M in conference distributions. Glass’ department "coupled that" with almost $10M in royalties and licensing revenues. Contributions, which have increased every year since '12 and last year "clocked in at almost double what they were 10 years ago, were reported" at nearly $25.5M. The new college landscape has "allowed Indiana to couple aforementioned revenue streams to those contributions, and either renovate or replace nearly every athletics facility on IU’s campus." Assembly Hall and Memorial Stadium have both "undergone significant renovation." IU athletics "finished its fiscal year in the black" for the 13th straight year (INDIANAPOLIS STAR, 2/9).