Alabama's financial report included the '19 football season, with full attendance at home gamesGETTY IMAGES
The Univ. of Alabama athletics department finished the fiscal year with a $16.1M "profit after losing $21.2 million a year before that," according to Michael Casagrande of the BIRMINGHAM NEWS. Alabama athletics’ fiscal calendar runs from July to July, so the '19 football season with full attendance is included in the '20 financial report "instead of last fall’s reduced capacity slate." As such, the full impact of COVID-19 "will be felt" in FY '21. In all, Alabama had revenue of $189.3M in '20 -- a $25.2M jump from '19 and the most Alabama athletics "ever reported making." The school reported a $21.2M loss in '19 after deferring $24.5M in contributions to the '20 balance sheet. Those contributions were back up to $19.7M -- "still down" from the $29.3M it received in '19. Alabama AD Greg Byrne in a September letter told Tide Pride members that the school expected to have a $75M "shortfall as a result of COVID-19′s impact." Meanwhile, Auburn reported "similar success financially" with its fiscal year running from Oct. 1, 2019 through Sept. 30, 2020. Auburn had a surplus of $17.9M. The pandemic-related troubles were "sprinkled into" the '20 reports but both schools figure to "take a considerable hit" when the '21 financial statements are filed (BIRMINGHAM NEWS, 1/27).
LOWER REVENUES FOR OLE MISS: In Mississippi, Nick Suss reports according to Ole Miss' NCAA financial report for FY '20 (which stretches from July 1, 2019-June 30, 2020), the athletic department's "total operating revenue" for FY '20 was $105,875,209. Ole Miss' operating budget for FY '20 "planned for $112,550,556 in athletics revenue." That means the school "ended up making $6,675,347 less than expected during the pandemic-altered budget year." By comparison, Ole Miss' revenue came in at $8,855,225 "under the budgeted expectation" in FY '19. The school budgeted to make $17,047,800 off "ticket revenue" in '20 but actually made $15,559,428. That was a "sizable drop" from the more than $20M Ole Miss athletics made from ticket sales in FY '19. FY '20 incorporated football ticket sales from '19, not '20. In FY '19, Ole Miss "received $0 from conference bowl partnerships because of its ongoing NCAA probation." In FY '20, Ole Miss made more than $8M "from SEC bowl partnerships" (Jackson CLARION LEDGER, 1/27).
NC STATE REPORTS LOSSES: In North Carolina, David Thompson notes N.C. State's athletic department "reported a loss" of more than $2M. Despite an "increase of ticket sales in football and men's and women's basketball" from '19 to '20, N.C. State "reported a net loss of $2,158,899." It is a nearly $4M downturn from '19, when the school reported a profit of $2,624,523 from athletics. School officials said that the loss of revenue in '20 was "covered by the school's athletics reserve cash balance." N.C. State AD Boo Corrigan in Sept. '20 said that he projected between $25-35M in "[losses] for his department in the next fiscal year" (FAYETTEVILLE OBSERVER. 1/27).
