Here’s how athletic department math works.
Always a college sports financial giant, the University of Texas athletics department has taken yet another leap. It had nearly $215 million in annual operating revenue and total operating expenses of $207 million during its 2017 fiscal year, according its new annual financial report to the NCAA.
It is the first time a Division I public-school athletics program has had at least $200 million in both operating revenues and expenses in the same year.
In addition to its operating expenses, the Texas athletics program reported making a separate $10.3 million transfer to the university. That type of transfer, beyond operating expenses, occurs annually at Texas. Over the past four years, the athletics department has sent a total of nearly $40 million to the university in this manner. So, arguably, from the athletics department’s perspective, the program operated at a deficit for 2017. [Emphasis added.]
I’m not sure what there is to argue about there. If I spend more money out of my checking account than I deposit, I’m in the hole. But I digress.
The real point here is that when the NCAA and the schools whine about losing money, it’s a crock as long as the books are being cooked. Arguably, they’re lying. Arguably.