UConn basketball’s finances: Men’s vs. women’s FY2023 data
STORRS, Conn. (BVM) – The University of Connecticut’s athletic department has filed its annual financial report to the NCAA for the 2023 fiscal year.
Here’s a comparison of the revenue, expenses and profits concerning the UConn Huskies men’s and women’s basketball teams.
BVM Sports obtained the 85-page financial report through an open records request. Know that fiscal year 2023 covers the reporting year from July 1, 2022 to June 30, 2023.
Revenue
UConn athletics as a whole posted $93,115,408 in total operating revenue in FY2023, which, unfortunately, is down by $5.9 million in comparison to FY2022.
Men’s basketball was the No. 1 highest revenue-generating sports program on campus after bringing in $10.6 million in FY2023.
Subsequently, women’s basketball was the third-most revenue-generating sports program at $4.4 million (behind football and its $6 million in revenue).
On the upside, women’s basketball has seen an increase in revenue when compared to its $3.5 million fiscal performance from FY2022. However, revenue from men’s basketball has declined from the substantial $19.3 million total made from FY2022.
Ticket sales are one notable revenue-generating source. Ticket sales made men’s basketball the No. 1 most in-demand sports program on UConn’s campus. Men’s hoops ticket sales increased by 37% (from $4.5 million in FY2022 to $6.3 million in FY2023).
Women’s basketball was the second most in-demand sports program at UConn – totaling $2.8 million in ticket sales in FY2023. Football followed with $1.7 million in ticket revenue.
Revenue from men’s basketball game programs, novelties, parking and concession sales went up by 76% to total $167,607, while women’s basketball experienced a 71% increase to total $100,777.
Expenses
UConn athletics as a whole allocated $90,718,903 towards total operating expenses in FY2023, a decrease from the $96.7 million that was spent back in FY2022.
Men’s basketball was the second most expensive sport on UConn’s campus – spending $13.9 million in FY2023. Interestingly enough, the program spent a whopping $24.9 million back in FY2022.
Women’s basketball was the third most expensive sport to run – spending $8.9 million in FY2022 to $10.5 million in FY2023.
Notably, football expensed the most money at $20.1 million.
One notable expense was the university’s $2.3 million recruiting budget. Men’s basketball spent the most of any team at $744,942. Football used up the second most ($525,047) and women’s basketball spent the third most ($515,879).
Profits
UConn’s athletic department reported profits of $2.4 million in FY2023, similar to those recorded in FY2022.
However, none of the UConn Huskies sports programs proved profitable in FY2023. The men’s basketball team reported a deficit of -$3.3 million, while women’s basketball suffered a greater loss of -$6 million. Football reported the most significant deficit of -$14.1 million.
It’s worth noting that the No. 1 most profitable men’s college basketball team in FY2022 was UNC at $19.5 million (click here for the top 10 most profitable college basketball programs). A ranking for FY2023 will become available later in the year.
