UC athletes succeed as deficits rise – WCPO

CINCINNATI — The University of Cincinnati lost $27.6 million on its sports offerings in the 12 months ending June 30, as the COVID-19 pandemic robbed football and basketball teams of ticket revenue and university subsidies covered 43% of expenses.

The numbers are disclosed in a membership financial report to the NCAA, which the WCPO 9 I-Team obtained in a public record request. The report shows UC’s athletic program spent $62.6 million on 12 sports with 561 participants in the 2021 fiscal year, while generating revenue of $62.1 million. Revenue declined 24% from the prior year while expenses declined 15%.

As in past years, UC’s “direct institutional support” was the biggest revenue generator for UC athletics, with $27.1 million flowing to the program from student tuition and fees. Last year’s results reversed a two-year trend toward decreasing reliance on the subsidy, which represented less than 40% of UC athletics revenue in 2019 and 2020.

“That’s always a goal of an athletic department to become fully funded and self-sufficient,” said UC Athletic Director John Cunningham. “But a lot of things have to happen for that to happen. And there’s very few programs that have been able to do that, very few.”

Lot Tan

UC Athletic Director John Cunningham sat down with I-Team reporter Dan Monk on Jan. 5 to discuss the financial ramifications of UC’s football success.

The I-Team has been looking into the financial prospects of UC’s athletic program because of its rise to national prominence in the 2021 football season and its commitment to join the Big 12 athletic conference by 2024. Because it’s one of the so-called Power Five conferences whose football champions receive automatic bids to Bowl Championship Series bowl games, the Big 12 is considered an elite conference whose members have a better chance of winning a national title.

The Big 12 is expected to increase UC’s media revenue by roughly $20 million but it will also lead to higher coaching salaries, increased travel expenses and a tougher schedule that makes last year’s undefeated season less likely in the future.

“We’re concerned about moving into the Big 12,” said John McNay, a history professor in UC’s Blue Ash college. “It isn’t going to solve any financial problems for the university. They’re going to spend more.”

McNay has been criticizing UC sports subsidies for years because the numbers keep rising as the university spends less on research and student instruction.

“When I first arrived at UC, the athletic department was running like a four-to-five-million-dollar deficit,” he said. “That was 20 years ago. That would be nice if we could get back to that.”

UC’s $27.1 million contribution to athletics in the 2021 fiscal year was a 10.8 reduction from the prior year, in which UC set a record by contributing $30.4 million to athletics.

“What we don’t talk about is where money is not being spent,” McNay said. “Money is not being spent on the students. It’s not being spent on the faculty. It’s not being spent on the academic mission of the university.”

UC ranked fourth in the nation in direct institutional support for the 2020 fiscal year, according to a November analysis by Sportico, an online sports business publication. UC’s $30.4 million contribution that year was exceeded by Central Michigan University’s $55 million contribution to its sports program. The University of Houston ranked second in Sportico’s analysis with a $38 million subsidy, followed by the University of Connecticut with $36 million.

Six of the Big 12’s current members received no subsidy from …….

Source: https://www.wcpo.com/news/local-news/i-team/uc-athletes-succeed-as-deficits-rise

CINCINNATI — The University of Cincinnati lost $27.6 million on its sports offerings in the 12 months ending June 30, as the COVID-19 pandemic robbed football and basketball teams of ticket revenue and university subsidies covered 43% of expenses.

The numbers are disclosed in a membership financial report to the NCAA, which the WCPO 9 I-Team obtained in a public record request. The report shows UC’s athletic program spent $62.6 million on 12 sports with 561 participants in the 2021 fiscal year, while generating revenue of $62.1 million. Revenue declined 24% from the prior year while expenses declined 15%.

As in past years, UC’s “direct institutional support” was the …….

CINCINNATI — The University of Cincinnati lost $27.6 million on its sports offerings in the 12 months ending June 30, as the COVID-19 pandemic robbed football and basketball teams of ticket revenue and university subsidies covered 43% of expenses.

The numbers are disclosed in a membership financial report to the NCAA, which the WCPO 9 I-Team obtained in a public record request. The report shows UC’s athletic program spent $62.6 million on 12 sports with 561 participants in the 2021 fiscal year, while generating revenue of $62.1 million. Revenue declined 24% from the prior year while expenses declined 15%.

As in past years, UC’s “direct institutional support” was the …….

Leave a Reply

Your email address will not be published. Required fields are marked *