Todd Graham's entire $12.8M buyout is on the books for FY '17-18, despite him being paid through June '21GETTY IMAGES
Arizona State athletics is reporting a $13.1M deficit for the FY '17-18, largely due to "buying out football coach Todd Graham," according to Jeff Metcalfe of the ARIZONA REPUBLIC. The entire $12.8M buyout due Graham is reflected in the FY '17-18 report even though Graham is "being paid in installments" through June '21. The deficit is ASU athletics' first since FY '11-12. ASU reported a $2.7M surplus for FY '16-17, down from $5.6M the previous year. ASU expects '18-19, which ends in June, to be "close to break even when the Graham buyout is technically off the books." ASU exceeded $100M in revenue for the first time in FY '16-17 then was up 11.9% to $113.6M for FY '17-18. ASU expenses for FY '17-18 were $126.7M, with the "largest increase other than for severance payment being facilities debt service tied primarily" to the $300M Sun Devil Stadium renovation and for support staff. Meanwhile, the Univ. of Arizona also is reporting a $7.4M deficit for '17-18 because of $8.2M due in severance payments. Most of that money is directed to former UA football coach Rich Rodriguez. UA last reported a fiscal year surplus in '14-15 ($6.4M) and in FY '16-17 "ran an $800,000 deficit." Arizona's total revenue is up 5.3% to $95.8M for FY '17-18. The department's revenue high was $99.9M in FY '13-14. UA expenses in FY '17-18 were a school-high $103.3M, up 12.6% over the previous year (ARIZONA REPUBLIC, 3/5).
