AAC Exit Fees Contribute To UConn Athletics' $42.3M Deficit For FY '19
UConn athletics' deficit between reported expenses and revenues "rose slightly" to $42.3M in FY '19, according to Alex Putterman of the HARTFORD COURANT. The increased deficit is "owed to, among other factors, an increase in university tuition"; a $1.4M decline in ticket sales; a $3M decline in payouts from Learfield IMG College; and a "decline in league revenue, related to UConn's impending departure" from the AAC, of about $3M. These costs were "balanced partly by a reduction in operating costs, including payroll," of about $1M, as well as a "rise in income from charitable contributions" of about $4M. UConn's deficit, which is "offset each year by student fees and a university subsidy, has become one of the largest in college sports," rising from about $15M in '11 to over $40M in '18. The school's "impending jump to the reconstituted Big East has already cost millions in fees and will cost more in the coming years." However, school officials said that the move will "benefit the athletic department financially in the long term." UConn expects that the deficit will "remain at a similar level" in FY '20, as it "continues to pay for its move from the AAC to the Big East, but should improve" in '21 and beyond (HARTFORD COURANT, 1/16).