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Ohio State University, which has led the nation in athletic department spending for the past six years, reported a total of $293 million in expenditures for the 2023-24 season, according to its latest NCAA financial disclosures.
That was an increase of roughly $17 million the school said it spent on athletics in 2022-23.
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Of its FY24 total, more than $26 million was allocated to student aid—an amount that athletic director Ross Bjork cited as evidence of the university’s “unwavering commitment” to supporting its “student-athletes” during this time of rapid change in college sports. The school sponsored 36 sports, more than double the NCAA’s minimum requirements for Division I.
However, the student aid figure was overshadowed by the $28.5 million Ohio State spent on football coaching compensation, despite a significant decrease in football ticket revenue compared to the previous season. Ohio State reported $64.3 million in football ticket sales in fiscal 2022-23, and $47.9 million in fiscal 2023-24—a drop of about 25%.
The shortfall is likely tied to changes in the football schedule and opponents. In 2022, the Buckeyes hosted eight home games, including a season opener against a ranked Notre Dame team and a high-stakes home finale against Big Ten rival Michigan. By contrast, the 2023 season featured a home slate of only six home, with the Michigan contest taking place in Ann Arbor.
OSU’s revenue decline was not confined to ticket sales. Year-over-year sponsorship and licensing revenue also dropped over that span, from $42.8 million to $34.1 million, possibly for the same reason.
Many of the school’s biggest changes in spending were related to coaches, as total salaries jumped from $45.2 million in 2022-23 to $54.3 million in 2023-24, driven largely by increases in compensation to…
Source link : https://sports.yahoo.com/ohio-state-athletics-spending-rose-201747325.html
Author : Sportico
Publish date : 2025-01-27 20:17:00
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