FSU Budget Increases For FY '19-20 Despite Projected Revenue Drop
Florida State's athletic board approved a $108.07M budget for FY '19-20, up over $1M from the previous year's budget of $106.95M, according to Wayne McGahee III of the TALLAHASSEE DEMOCRAT. The athletic department's operating revenue is "projected to drop" over $9M to just under $75M from $84M last year. That projection is "due, in large part, to football ticket sales, which are expected to drop" to just under $15M. The athletic budget is "built around the expectation of 25,000 season tickets being sold for football." FSU fans have "already purchased 24,000 season tickets and that number is expected to rise." The school's ACC revenue distribution of $29.7M for FY '17-18 was announced last week. FSU is "expecting that to increase" to $32.1M for FY '19-20 with the addition of the new ACC Network, which starts Aug. 22 (TALLAHASSEE DEMOCRAT, 5/31).