UConn athletic budget trending in right direction (Dom Amore @Courant)

[huskymedic]

Assisted access <<

-> UConn Athletics is about to release its NCAA financial report for fiscal year 2023, and can finally say the numbers are trending in the right direction — the direction demanded by the school’s hierarchy a few years ago.

The numbers to come out Tuesday, updating the annual report out out last June, will show the department is bringing in more money, keeping its cost somewhat under control during inflationary times and that it managed to cut the institutional support it received by 35 percent, from $46.2 million to $30.2 million between fiscal years 2022 and ’23. <-

-> … With that one-time cost behind UConn, and added revenue from substantially increased ticket prices and attendance, especially for basketball, and added fund raising, the athletic department was able to self-generate 60 percent of its own revenues. Ticket revenues rose 32.8 percent, from $9.7 to $12.9 million, and contributions 30.3 percent, from $13.7 to $17.7 million. <-

-> UConn has been frustrated in its decade-long aspirationto join a power conference, most recently by the Big 12 and ACC last summer. Still, UConn, an independent FBS football school, a member of the Big East Conference in most sports and Hockey East in men’s and women’s ice hockey, raised more than $93 million in revenue which, Benedict noted, is more than any Group of Five conference school and more than some of the remaining power conference schools (sans the enormous football TV revenue).<-

-> “I feel very positive about the trendline,” Benedict said. “… We’re raising more money than we ever have as an athletic program, that’s going to continue to grow. We’re generating more ticket revenue, that’s going to continue to grow. We’re going to continue to win at an elite level. We feel we’re very good stewards of the university’s investment. There is a return, and we’re going to continue to do our absolute best to manage expenses and increase revenues.” <-

 

[Hoophound]

AD Dave is great at his job. Any naysayers have no concept of what he’s up against.

 

[huskymedic]

Yup… he’s also trying to be consistent in his message in that regard.

This is the second time of late he’s floated that number.

 

[GoConn]

$500M should be easy enough.

 

[How Sway?!]

Yup… he’s also trying to be consistent in his message in that regard.

This is the second time of late he’s floated that number.

Might be just me, but rather than spend $500 million an on campus stadium, it would be better used as an endowment to cover $25 million of expenditures every year.

 

[Forte]

Might be just me, but rather than spend $500 million an on campus stadium, it would be better used as an endowment to cover $25 million of expenditures every year.

$500 million for UConn accountants to shift into NIL and coaching salaries.... but seriously, I would love an on-stadium campus. College football is about atmosphere, which would instantly increase student attendance. I know some here will complain the travel is 30 minutes longer from Fairfield County, partly a reflection of our state's true commitment to big-time college football.... As if the rent has a rabid loyal fanbase packing its 40k capacity...

 

[CTFAN4LIFE]

$500 million for UConn accountants to shift into NIL and coaching salaries.... but seriously, I would love an on-stadium campus. College football is about atmosphere, which would instantly increase student attendance. I know some here will complain the travel is 30 minutes longer from Fairfield County, partly a reflection of our state's true commitment to big-time college football.... As if the rent has a rabid loyal fanbase packing its 40k capacity...

The atmosphere at the Rent when we were winning was fabulous. Just win, baby.

 

[shizzle787]

This is why we will opt in to the proposed Charlie Baker pay for play subdivision if it happens.

 

[huskymedic]

The Hearst version:



Cheat sheet <<

 

[Jimdish255]

If the cost of running shoes would come down maybe we could resuscitate men's cross country.

 

[Rdkid]

Looks like deficit talk can be put to bed. $30 mil to get the return you get for the state and university is well worth it. It would be nice if the student subsidy were eliminated though. Small donors and bball fans stepped up. Fundraising finally found the 21st Century.

 

[Rdkid]

AD Dave is great at his job. Any naysayers have no concept of what he’s up against.

I would also add that university, BOT and legislature/govt support is better than people give credit. He’s not out on a ledge - good alignment to maintain stability under challenging circumstances. It is easy to crap on leadership these days. They all have done well collectively with the hand they’ve been dealt.

 

[CONN78SEJ]

Assisted access <<

-> UConn Athletics is about to release its NCAA financial report for fiscal year 2023, and can finally say the numbers are trending in the right direction — the direction demanded by the school’s hierarchy a few years ago.

The numbers to come out Tuesday, updating the annual report out out last June, will show the department is bringing in more money, keeping its cost somewhat under control during inflationary times and that it managed to cut the institutional support it received by 35 percent, from $46.2 million to $30.2 million between fiscal years 2022 and ’23. <-

-> … With that one-time cost behind UConn, and added revenue from substantially increased ticket prices and attendance, especially for basketball, and added fund raising, the athletic department was able to self-generate 60 percent of its own revenues. Ticket revenues rose 32.8 percent, from $9.7 to $12.9 million, and contributions 30.3 percent, from $13.7 to $17.7 million. <-

-> UConn has been frustrated in its decade-long aspirationto join a power conference, most recently by the Big 12 and ACC last summer. Still, UConn, an independent FBS football school, a member of the Big East Conference in most sports and Hockey East in men’s and women’s ice hockey, raised more than $93 million in revenue which, Benedict noted, is more than any Group of Five conference school and more than some of the remaining power conference schools (sans the enormous football TV revenue).<-

-> “I feel very positive about the trendline,” Benedict said. “… We’re raising more money than we ever have as an athletic program, that’s going to continue to grow. We’re generating more ticket revenue, that’s going to continue to grow. We’re going to continue to win at an elite level. We feel we’re very good stewards of the university’s investment. There is a return, and we’re going to continue to do our absolute best to manage expenses and increase revenues.” <-

It’s an amazing job by the athletic dept, despite the fact that they still pay rent for home football games and home basketball games at the XL Center.

 

[shizzle787]

It’s an amazing job by the athletic dept, despite the fact that they still pay rent for home football games and home basketball games at the XL Center.

It's one hand washing the other. The entity that runs the Rent is state-run as is UConn. It all goes into the same pot.

 

[CL82]

It's one hand washing the other. The entity that runs the Rent is state-run as is UConn. It all goes into the same pot.

Yep but it is, in essence, an accounting gimmick to hide millions of dollars of losses in the authentic departments financials.

 

[CTFAN4LIFE]

It’s an amazing job by the athletic dept, despite the fact that they still pay rent for home football games and home basketball games at the XL Center.

To me, the more impressive thing is that we're hanging in there without the benefit of substantial/power conference football tv dollars. If only we could get $15-30 million more a year. Sigh.

 

[huskymedic]

 

[CONN78SEJ]

It's one hand washing the other. The entity that runs the Rent is state-run as is UConn. It all goes into the same pot.

Almost like a kickback. Lol

And who pockets $40G’s for every home men’s and home women’s game at the XL center?

 

[CONN78SEJ]

To me, the more impressive thing is that we're hanging in there without the benefit of substantial/power conference football tv dollars. If only we could get $15-30 million more a year. Sigh.

I thought that was implied in my original post, sorry.

 

[CTFAN4LIFE]

I thought that was implied in my original post, sorry.

No worries, just saying.