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Headline: UConn athletics deficit climbed to $53 million in '22
STORRS, Conn. (AP) — The University of Connecticut’s athletic department deficit rose to $53 million during the 2022 fiscal year, an increase the school attributed to $13.4 million it was forced to pay former head men’s basketball coach Kevin Ollie.
The deficit, reported in the school’s annual financial statement to the NCAA and released publicly on Tuesday, compares to a $47.2 million deficit reported for the 2021 fiscal year.
It was covered by $46.5 million in direct support from the school and another $6.5 million in student fees, according to the report.
The school said part of the deficit was related to money it was forced to pay after a n arbitrator’s ruling that it improperly fired Ollie in 2018 and to settle other claims related to Ollie’s dismissal.
Discounting those payments, the actual operational institutional support to athletics decreased by $7.3 million to $33.2 million in fiscal 2022. The school also said it saw philanthropic donations rise to $23.6 million, which was the third-highest total in the athletic department’s history, up 12% from the previous year.
“At a time when budgets of ‘Power 5’ conference members have increased substantially and in some cases are nearing $200 million, UConn athletics continues to find ways to remain competitive nationally with far less,” the school said.
STORRS, Conn. (AP) — The University of Connecticut’s athletic department deficit rose to $53 million during the 2022 fiscal year, an increase the school attributed to $13.4 million it was forced to pay former head men’s basketball coach Kevin Ollie.
The deficit, reported in the school’s annual financial statement to the NCAA and released publicly on Tuesday, compares to a $47.2 million deficit reported for the 2021 fiscal year.
It was covered by $46.5 million in direct support from the school and another $6.5 million in student fees, according to the report.
The school said part of the deficit was related to money it was forced to pay after a n arbitrator’s ruling that it improperly fired Ollie in 2018 and to settle other claims related to Ollie’s dismissal.
Discounting those payments, the actual operational institutional support to athletics decreased by $7.3 million to $33.2 million in fiscal 2022. The school also said it saw philanthropic donations rise to $23.6 million, which was the third-highest total in the athletic department’s history, up 12% from the previous year.
“At a time when budgets of ‘Power 5’ conference members have increased substantially and in some cases are nearing $200 million, UConn athletics continues to find ways to remain competitive nationally with far less,” the school said.
