The University of Texas Athletics program is already one of the richest programs in the nation. It once again stunned fans when it reported $271 million in operating revenue in the 2023 fiscal year, which is a record for the NCAA schools. The humongous figures were present in its yearly revenue-and-expenses report. As per USA TODAY, the report was obtained by them through an open records request. This comes as a major surprise since as per the new figures, Texas increased its annual revenue to around $32 million from 2022.

What are the major contributors to Texas’ record-breaking revenue?

The reported revenue is the highest in a solitary fiscal year since the NCAA started its current reporting system in 2005. While Ohio State had reported $251.6 million in 2022, Oregon had declared a whopping $391.8 million in 2020. Oregon’s revenue, however, had more than $270 million allocated for the renovation of its track and field arena.

The ticket sales, contributions, and other sources all saw an increase for Texas. While the contributions had a $11 million improvement to touch  $86 million, ticket sales swelled by an exorbitant $5.7 million, taking the tally to $63.3 million. There was also a betterment of $10.2 million from sponsorships and royalties.

Trending

Deion Sanders’ Ex-GF Tracey Edmonds Gushes Over Caleb Williams as He Gets Drafted in Bears

April 26, 2024 05:23 AM EDT

“They Won’t Return Phone Calls “-Dale Jr’s Legendary Short Track Star Reveals NASCAR’s Dark Side Amid Diminishing Interest

April 26, 2024 12:56 PM EDT

“Very Disturbing”: Ex Wife Pilar Sanders Reprimands Coach Prime for “Stupid” Take on Shelomi’s Transfer Portal Decision

April 26, 2024 12:28 PM EDT

Russell Wilson’s Pittsburgh Arrival Followed up by More Good News for Steelers Fans Via Commissioner Goodell

April 26, 2024 11:26 PM EDT

“You Weren’t There”: Pilar Sanders Minces No Word to Call Out Coach Prime for Inadequately Supporting Shelomi’s Career

April 26, 2024 02:17 PM EDT

Get instantly notified of the hottest stories via Google! Click on Follow Us and Tap the Blue Star.

Follow Us

Texas athletic director Chris Del Conte thanked the “incredible fan base” for their support. He was quick to extend his gratitude to the “athletic program.” Del Conte divulged that one of the biggest reasons for such an increase in revenue was due to the new arena, the Moody Center.

With Kansas Stumbling Out, Can Purdue Maintain Number 1 NCAA Status?

Texas’ football program made a remarkable $183 million in operating revenue. Additionally, they had a $122 million surplus above the operating expenses. Even though Penn State, LSU, and Tennessee all have reported above $200 million, they still fall behind Texas.

A further increase is predicted

Texas’ record has shattered the ceiling since about 181 schools’ revenue is lower. The school has raised the money needed to have a new indoor football arena. Texas will start the construction in June and will take about two years to complete it. Del Conte gave another groundbreaking estimate that the “ongoing 2024 fiscal year should be better than last year.”

Texas sold its 68,000 football season tickets along with tickets for men’s basketball, baseball, and softball. It will gain more in benefits by conference revenue sharing when it makes its way to the SEC.

As per USA TODAY, Texas received around $42 million to $45 million from its current conference in the 2023 fiscal year. Though it will take some time until the 2025-26 school year to be a complete participant in the Big 12 revenue sharing, nonetheless it will gain at least $20 million more than what it gets in the Big 12.

Watch This Story: Sending Shockwaves in The Basketball World, Know 18YO MiLaysia Fulwiley’s Story