All your favorite teams and sources in one place

Build your feed

Your Teams.
All Sources.

Build your feed

© 2024 BVM Sports. Best Version Media, LLC.

No results found.
Arkansas Razorbacks football reports FY2023 financial triumph
Credit: © Gabriel Mayberry-USA TODAY Sports

Arkansas Razorbacks football reports FY2023 financial triumph

FAYETTEVILLE, Ark. (BVM) – The University of Arkansas in Fayetteville’s athletic department has filed its annual financial report to the NCAA for the 2023 fiscal year. 

The 80-page filing for fiscal year 2023 covers the reporting year from July 1, 2022 to June 30, 2023. Many can recall that the Razorbacks capped the 7-6 campaign with a thrilling 55-53 win against Kansas in the Liberty Bowl. 

Here are the takeaways about the Razorbacks football program’s revenue, expenses and profits from the NCAA report.  

Revenue

Arkansas athletics across all sports generated $167,366,549 in total operating revenue – which is a $14.9 million increase from FY2022. 

Specifically, the football program raked in $72.5 million in revenue in FY2023, which is 43% of the university’s total athletics revenue. While football is the top revenue-generating sport – men’s basketball follows in second with $19.3 million in revenue. 

Unfortunately, football revenue is down from the previous reporting year; the program raked in $83.7 million in revenue back in FY2022.  

One significant revenue-generating category is ticket sales. Arkansas athletics across all sports made $51.1 million in ticket sales in FY2023. Football alone brought in $38.9 million of those total ticket sales (up $3.6 million from the previous year).  

Football revenue also came from game programs, novelties, parking and concession sales ($1.8 million). Media rights from football tallied $15.1 million of the $37.8 million department total. Football’s royalties, licensing, advertisement and sponsorships reached $4.2 million (21% of the department’s total). 

Expenses

Arkansas athletics across all sports spent $166,552,649 in total operating expenses, however, the department expensed $22.2 million less in FY2022. 

In particular, football used up $53.9 million of the university’s athletic expense budget in FY2023, while men’s basketball spent the second most at $13.8 million. Notably, football spent $6.9 million less back in FY2022. 

So, where did football up the spending? One example surrounds recruits; the recruiting budget went from $1.2 million in FY2022 to $1.8 million in FY2023. Another example pertains to the $1.1 million increase in head and assistant football coaching salaries, benefits and bonuses. Team travel (lodging, meals, air and ground travel) increased from $1.8 million in FY2022 to $2.1 million in FY2023. 

Profits 

The Arkansas athletics department as a whole posted $813,900 in profits during FY2023. Unfortunately, that number is significantly down from the $8.2 million in profits from FY2022. 

Fortunately, the football team was profitable in FY2023 at $18.5 million. However, in comparison, the FY2022 profits doubled that at $36.7 million.  

Overall, football was one of only two profitable teams during the 2022-2023 season at Arkansas considering that men’s basketball made $5.5 million.