In the 2024 fiscal year, Ohio State University’s athletics department reported operating expenses totaling $292.3 million, marking the second-highest single-year spending for a Division I public school since the NCAA’s current reporting system began in 2005. citeturn0search6
Key Factors Contributing to the Deficit
Several factors contributed to the reported operating deficit:
- Decline in Ticket Revenue: Ticket sales, the largest source of revenue for the athletics department, decreased by $14.6 million. This decline was attributed to the football team hosting six home games in the 2023 season, down from eight in the previous year. citeturn0search0
- Severance Costs: The department incurred over $8.5 million in severance expenses related to the dismissal of men’s basketball head coach Chris Holtmann in February 2024. citeturn0search0
Comparison with Other Institutions
Despite the deficit, Ohio State’s operating expenses remain among the highest in collegiate athletics:
- University of Texas: Reported $325 million in operating expenses for the same fiscal year, setting a new record for a Division I public school. citeturn0search4
- University of Alabama: Reported $262.8 million in operating expenses. citeturn0search3
Financial Outlook and Mitigation Strategies
To address the $37.7 million deficit, Ohio State Athletics plans to utilize past profits, reserve funds, and anticipated future revenues. The department remains committed to supporting its student-athletes, with over $26 million allocated for athletic student aid in the 2024 fiscal year. citeturn0search8
While the deficit is a concern, the department’s proactive financial strategies aim to ensure long-term stability and continued support for its extensive athletic programs.
