Last Friday, Brian Davis broke a Statesman exclusive story on the University of Texas athletics department’s finances for 2013-24. The Longhorns lost money last year for the first time since the 1999-2000 academic year. An 11.8 percent drop in ticket revenue was one of the main reasons for the fall into the red. Athletic director Steve Patterson also said a one-time cost of $4.375 million to buy out Charlie Strong’s contract from Louisville upon his hire also added to the deficit. Former coach Mack Brown received a $2.75 million severance package, but the payout is structured over four years.
This week, we took a more detailed look at last year’s finances and here are some of the findings:
Only three sports made money in 2013-14. Football cleared $77.6 million, men’s basketball produced $6 million to the bottom line and baseball finished in the black at $1 million.
Every other sport finished in the red. Some highlights include: Women’s hoops at ($3.1 million), volleyball at ($1.6 million), men’s track at ($1.6 million), rowing at ($1.3 million) and softball at ($915,000)
Football revenue is key to department’s financial success. Not new news here, but football revenue is 750% more than the second highest sport revenue. Some sports include: Football at $112.5 million, men’s hoops at $15 million, baseball at $5 million, women’s basketball $1.7 million, volleyball at $1.6 million and soccer at $628,000.
Ticket sales revenue follows the same theme. Football ticket sales garner $34 million, men’s basketball $3 million, baseball $1 million, women’s hoops $270,000, volleyball $220,000 and soccer $25,000.
Some oddities are in the details:
The leader in revenue generated by sports camps is surprising. Swimming leads the way at $1 million. Volleyball is next at $740,000. Soccer is third at $370,000. Football is slotted at 6th only bringing in only $290,000.
The department’s recruiting expense matches its “equipment, uniforms and supplies” expense. Both cost $1.46 million.
Besides football only two teams receive money for game guarantees. Volleyball gets $4,000 and soccer brings in $1,500.