Ohio State Athletics Gave $36,282,811 Back to the University Between 2011 and 2014

[B1GOSU]

Not many P5 teams can do this, but it is noteworthy concerning conference realignment for UConn. With P5 $$$, would UConn be able to return athletics money to the university?

http://www.elevenwarriors.com/ohio-...-back-to-the-university-between-2011-and-2014


College athletics is a business, and business is booming. But not everybody is benefitting from the financial windfall.

An investigation by The Chronicle of Higher Education revealed only a few of the FOIA'd respondents are giving portions of their proceeds back to academics.

The Ohio State University, however, is one of those few. Gene Smith told The Chronicle he sees putting money back into academics as an obligation: "When you’re at our level, we should be doing that. But not as many schools as we all think have that capability."

So just how much has Ohio State athletics given to the university? A multi-year Freedom of Information request revealed it to tens of millions of dollars. Most impressively, though, Ohio State athletics didn't take a single penny in subsidy between 2011 and 2014.

Here's a look at five of the 10 (out of 40 polled schools) that gave more money back than they took:

SCHOOL TOTAL TRANSFER TO INSTITUTION SUBSIDIES
TEXAS $37,147,027 $0
OHIO STATE $36,282,811 $0
ALABAMA $25,420,003 $23,039,471
FLORIDA $25,242,435 $17,928,596
LOUISIANA STATE $19,036,652 $0

Texas and Ohio State combined for more than half of the money returned to universities between 2011 and 2014. As for the uses of this money, OSU athletics helped finance the $109 million renovation of the Thompson Library.

Add this as another example of Gene Smith's stewardship that has Ohio State on the cutting edge of college athletics.

 

[B1GOSU]

While OSU slightly trailed Texas in overall revenue returned to the university, it is noteworthy to mention that OSU sponsors 39 sports - 19 men's sports and 20 women's sports. Texas only sponsors 20 sports - 9 men's and 11 women's. OSU athletics is spending much more money to support twice the number of Olympic Sports than Texas sponsors. So that means OSU revenue sports are more profitable than Texas revenue sports, OSU just has to spend much more money on Olympic sports because they sponsor so many.

 

[Seaa Blue]

Although... If the school paid for the construction and maintenance of facilities (not to mention athletic scholarships) this type of "payback" is expected. Contributions may also be routed first through the athletic department, or the school.

I lack the accounting skills to know much more than debits and credits, but with these types of comparisons it's often noted that it's hard to compare the Michigans vs. Ohio States of the world due to differing accounting practices.

 

[ConnHuskBask]

Sweet, man.

 

[Waquoit]

What's the big deal? John Toner gave money back all the time.

 

[BUConn10]

On the flip side the UConn students' tuition feebills paid the AD a similar sum this year.

 

[upstater]

Not many P5 teams can do this, but it is noteworthy concerning conference realignment for UConn. With P5 $$$, would UConn be able to return athletics money to the university?

http://www.elevenwarriors.com/ohio-...-back-to-the-university-between-2011-and-2014


College athletics is a business, and business is booming. But not everybody is benefitting from the financial windfall.

An investigation by The Chronicle of Higher Education revealed only a few of the FOIA'd respondents are giving portions of their proceeds back to academics.

The Ohio State University, however, is one of those few. Gene Smith told The Chronicle he sees putting money back into academics as an obligation: "When you’re at our level, we should be doing that. But not as many schools as we all think have that capability."

So just how much has Ohio State athletics given to the university? A multi-year Freedom of Information request revealed it to tens of millions of dollars. Most impressively, though, Ohio State athletics didn't take a single penny in subsidy between 2011 and 2014.

Here's a look at five of the 10 (out of 40 polled schools) that gave more money back than they took:

SCHOOL TOTAL TRANSFER TO INSTITUTION SUBSIDIES
TEXAS $37,147,027 $0
OHIO STATE $36,282,811 $0
ALABAMA $25,420,003 $23,039,471
FLORIDA $25,242,435 $17,928,596
LOUISIANA STATE $19,036,652 $0

Texas and Ohio State combined for more than half of the money returned to universities between 2011 and 2014. As for the uses of this money, OSU athletics helped finance the $109 million renovation of the Thompson Library.

Add this as another example of Gene Smith's stewardship that has Ohio State on the cutting edge of college athletics.

You have to break down the true numbers better. Texas's AD tries to service the $350+m that the university shelled out for the stadium.

ADs obviously don't issue bonds. Schools can and do.

I don't know OSU's situation.

But Michigan works like Texas. They have $300+m in debt serviced by the academic side. Approximately $20m a year in interest. Michigan returns $11m to the school to service that interest.

There are a lot of things in play that aren't immediately evident, such as all royalties & branding going to athletics. Athletics may be 90% of branding for some of these schools, but even NYU and Yale sell a lot of sweaters and tshirts. Or, with the Longhorn Foundation, it is an entirely athletic endowment. A survey showed that over 75% of the contributors were unaware they were giving money to athletics. Tat's donation money counted as yearly revenue.

That being said, this is all really good for Michigan, Ohio State and Texas since it is not a burden on the school.

 

[Drew]

Not a dime back.

 

[upstater]

Although... If the school paid for the construction and maintenance of facilities (not to mention athletic scholarships) this type of "payback" is expected. Contributions may also be routed first through the athletic department, or the school.

I lack the accounting skills to know much more than debits and credits, but with these types of comparisons it's often noted that it's hard to compare the Michigans vs. Ohio States of the world due to differing accounting practices.

As of last year, Michigan's AD paid back $11m of the $20m+ in annual servicing costs. I don't know what it is for this year. After faculty complaints a few years ago, the AD started chipping in more.