Ohio State’s athletic department has officially closed their books on its 2025 financial year. And thanks to a fascinating football season and strong revenue streams across the board, the word is the Buckeyes have managed to rebound from what was once a record-setting downturn.

On January 30, the university said it earned a record $336.1 million during the 2025 fiscal year. Because of that, the school finished with a $15.7 million surplus, an enormous improvement from the $37.7 million loss it had in 2024.

So, how did they pull it off? A big part of it was the football team’s incredible season, which ended with a natty over Notre Dame. Having eight regular-season home games plus a playoff home game against Tennessee boosted ticket sales to over $81 million, roughly $23 million more than the year before when they only had six home games.

On top of the packed stadium, the school saw a massive jump in donations and TV money. Fans and donors chipped in a record $68.2 million in contributions, while the Big Ten’s lucrative new media deal brought in nearly $65 million in rights fees. Licensing and sponsorships also had a great year, contributing over $42 million to the pile.

The athletic department spent a record $320.4 million to run its programs, but it generated even more revenue, fully covering those costs. More than $24.9 million went toward helping student-athletes with expenses like tuition and supporting athletes who could not compete because of their medical issues.

This is part of their “Circle of Care,” which covers taking care of athletes both on and off the field. Athletic Director Ross Bjork couldn’t hold back his excitement.

“As the collegiate athletics model continues to evolve, successfully navigating the financial landscape is a must, and I am proud of everyone within our program who made last year a success,” Ross Bjork said. “While there will be continued challenges to our economic model. We will strive to be best in class by continuing to innovate.

And also stay aggressive in generating new revenue streams while also managing our expenses as soundly as possible. We are grateful for every Buckeye fan, donor, season ticket holder, and all students who support our program in numerous ways.”

Even with these new revenue streams and rising costs, the university plans to remain committed to supporting all 36 varsity sports.

Meanwhile, the Buckeyes are heading into spring without their best 1–2 punch at running back.

The RB-less spring practice

It’s a bit of a “good news, bad news” situation for the Buckeyes’ backfield heading into 2026. The good news is that Bo Jackson and Isaiah West have locked down the top two running back spots after massive freshman seasons. However, head coach Ryan Day confirmed that shoulder surgeries will sideline both players for all 15 spring practices.

Missing spring ball isn’t ideal. Still, the staff is clearly playing it safe to ensure their stars are fully ready when the season arrives. Bo Jackson is coming off a monster 1,090-yard campaign. Despite rumors of a potential transfer, he shut that door by signing a new NIL deal to remain in Columbus just a few days back. With both Jackson and West expected to be fully cleared by fall camp in August, this spring is more about recovery than reps.

With the top two backs out, younger players and new faces now have a wide-open opportunity. Florida transfer Ja’Kobi Jackson is expected to see plenty of work. Redshirt freshman Anthony “Turbo” Rogers will also be heavily involved. For the coaching staff, this spring becomes a valuable window to build depth. All while they wait for their dynamic duo to return in time for the 2026 opener.