Minnesota Athletics Post Profit, Continue Efforts To Boost Revenues

The Univ. of Minnesota's athletics department reported a $9.8M profit last year, "more than a fourfold increase from the previous year," according to Megan Ryan of the Minneapolis STAR TRIBUNE. However, a "deeper look at the budget explains the department’s increasing unease from sagging attendance and hefty debt service payments for their upgraded facilities." In order to "avoid relying on one major source of revenue from the Big Ten," UM officials have "taken serious steps to revive their deflating ticket revenue in their three revenue-generating sports: football, men's basketball and hockey." This spring, UM "slashed" some season-ticket prices in men's basketball and hockey, while proposing the sale of alcohol to all patrons at Williams Arena and 3M Arena at Mariucci." School officials are "hopeful these measures will enhance the department's bottom line before the conference cash runs dry." The Big Ten "re-upped its national TV deals two seasons ago," infusing more than $2.5B into the conference through the six-year contract. After "raking in" $23.4M in Big Ten media rights revenue two years ago, UM saw its "critical share grow" to $41M last year. Big Ten revenue sharing will "cushion the department for at least another four years," but "no one is sure what those dollar amounts will be when the deals are up for renegotiation" (Minneapolis STAR TRIBUNE, 6/6).

Download the Minnesota Athletic Budgets Chart