The Ohio State athletic department is one of the biggest and richest in the country and regularly pulls in one of the top revenues of any program annually. That was no different last year, as Ohio State raked in over $210 Milion dollars in total revenue, as reported to the NCAA.
Unlike previous years though, this year that revenue did not cover the expenses to operate the department. According to a report from the Columbus Dispatch, Ohio State finished in the red because of expenses reported as $220.6 Million. Though accounting practices and bookkeeping show a much larger downfall, the loss was actually under $1 Million instead of the approximate $10 Million said school administrators.
There are several reasons for the shortfall, but declining revenue from ticket prices, funding for facilities improvements, recording of donations, and the investigation into the Zach Smith saga all contributed. The fiscal year in question ran from July 1, 2018 through August 31, 2019.
The last time Ohio State recorded a loss to the NCAA was in 2009 when it had a shortfall of just $148,037. It then went on an almost ten-year run of finishing with a surplus.
Ohio State's athletic department operated in the red last year – but how red? https://t.co/HUtH0dmj1C
— Columbus Dispatch (@DispatchAlerts) February 14, 2020
This sounds like more like a product of circumstances rather than an issue with the fiscal responsibility of the university. If it happens two or three years in a row, then maybe there’s more cause for concern.
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