Despite recent major wins, the Ohio State Department of Athletics has recorded net losses, a recent report to the National Collegiate Athletic Association shows. Credit: Carly Damon | Asst. Photo Editor
Despite recent major wins — including this year’s College Football Playoff National Championship title — the Ohio State Department of Athletics has recorded net losses, a recent report to the National Collegiate Athletic Association shows.
In a membership report for the 2024 fiscal year released Monday, the department upheld its status as one of the largest collegiate football programs in the country, revealing its total operating revenue was valued at nearly $255 million. This marked a notable decrease from the record-high $279 million figure reported in the 2023 fiscal year report.
The department lost money in the 2024 fiscal year, amassing over $292 million in expenses — a considerable increase from the nearly $275 million spent in 2023, resulting in a budget deficit of nearly $38 million.
Ohio State Athletic Director Ross Bjork said in an Ohio State news release the department is working to address this disparity.
“While last year’s budget impact is not ideal and there were unique circumstances at play, we have a robust expense and revenue plan that has been implemented and have made great progress in this ever-changing landscape of college athletics,” Bjork stated “We will make sure we operate with a balanced budget moving forward.”
One of the largest losses came from ticket sales, which remained the department’s major revenue source across both fiscal years. According to the news release, the figure went from $73.4 million in 2023 to $58.8 million in 2024, due to the football team playing six home games in the 2024 fiscal year, compared to eight from the previous year.
The department spent the most money on coaching salaries, benefits and bonuses in fiscal year 2024, spending $54.3 million in total. This number is up from the 2023 fiscal year’s total expense of $45.2 million.
Other payments, like those dedicated to support staff and severance — the latter of which rose dramatically from $162,335 in fiscal year 2023 to over $9.2 million in fiscal year 2024 — also help account for the divide.
The athletics department received no direct state or government funds, according to the report. To cover the total $37.7 million deficit, the university’s news release cited past profits, savings funds and expected future revenues as predicted ways to compensate for the cost.
The College Football Playoff — specifically bowl games against Tennessee, Oregon and Texas, and the national championship victory — are expected to contribute to revenues in the report for the 2025 fiscal year, the news release states.
