How UConn men’s, women’s basketball did financially in FY2024
STORRS, Conn. (BVM) – The University of Connecticut athletic department has released its annual financial report for fiscal year 2024.
The 85-page document, which was submitted to the NCAA by Jan. 15, was obtained by BVM Sports through an open records request. It highlights revenue, expense and profit figures of the UConn Huskies men’s and women’s basketball teams.
Note that FY2024 covers the reporting period from July 1, 2023 to June 30, 2024. It reflects the 2023-24 seasons when men’s basketball won the national title and the women advanced to the Final Four.
Revenue: The UConn athletic department generated $105.6 million in total operating revenue in FY2024, marking a $12.5 million increase from the previous year.
Men’s basketball generated the most money, nearly doubling its revenue from $10.3 million to $19.6 million year-over-year.
Women’s basketball was previously the third-highest revenue-generating program at $4.4 million in FY2023 (behind men’s basketball and football). However, the latest FY2024 data reveals that women’s basketball ($8 million) has since surpassed football ($5.3 million) in revenue.
Ticket sales: Men’s basketball remains the most in-demand sport on campus, with ticket sales rising by 32%, reaching $8.3 million.
Women’s basketball saw a 17% spike in ticket sales, bringing ticket revenue to $3.3 million. This makes the program the first public women’s college basketball team in history to surpass more than $3 million in annual ticket sales, per Sportico. Notably, women’s basketball once again surpassed football’s ticket sales (which made $2.2 million).
Other game day revenue: Game days are becoming increasingly lucrative year-over-year; men’s basketball generated $190,643 and women’s basketball reported $103,211 from game programs, novelties, parking and concessions.
Donations: The generosity of donors helps the Huskies stay competitive. Contributions provided and used by men’s basketball increased by 94% (totaling $2.6 million), while women’s basketball contributions rose by 131% (totaling $2.3 million).
Expenses: The UConn athletic department raised its spending budget by $10.3 million, bringing total operating costs to $101 million in FY2024.
Men’s basketball was the most expensive sport – after spending an additional $6.5 million to bring its operating costs to $20.4 million. Football was the second most expensive program ($18.5 million), followed by women’s basketball ($12.5 million.)
Meals: Although rare, the university allocated more money to non-travel meal allowances and food/snacks for basketball programs than for football in FY2024. Men’s basketball spent $121,322, women’s basketball spent $95,420, while football accounted for just $64,297. Interestingly enough, men’s basketball spent just $4,081 back in FY2023.
Team travel: Meals provided to players on the road were reported under “team travel,” but this category also considers lodging, air and ground travel. Men’s basketball spent the most in this category ($2.9 million), followed by football ($2.3 million) and women’s basketball ($1.8 million).
Game expenses: Game-day expenses for men’s and women’s basketball – covering officials, security and event staff (excluding travel) – were nearly identical at approximately $600,000 each. Combined, the programs accounted for 35% of the university’s total spending in this category on all sports.
Recruiting: The UConn athletic department spent $3.1 million on recruiting in FY2024, with men’s and women’s basketball alone accounting for 58% of that amount.
Men’s basketball boosted its recruiting spending by 22%, reaching $908,064.
Women’s basketball increased its recruiting spending by 72%, totaling $888,623.
UConn football spent just $756,610 on recruiting – a rare occurrence in college sports where football’s recruiting spending falls short of basketball’s.
Salaries: Dan Hurley (men’s basketball) was paid $6.6 million in salaries, benefits and bonuses in FY2024 – making him the highest-paid head coach at UConn. Geno Auriemma (women’s basketball) was the second-highest-paid head coach at $3.2 million. Football’s head coach was the only other individual to earn seven figures (at $1 million).
Profits: The UConn athletic department reported a $4.6 million profit in FY2024, which is a $2.2 million increase from the prior year.
Only UConn volleyball made a profit in FY2024 ($13,511). Unfortunately, football lost $13.2 million, women’s basketball lost $4.6 million and men’s basketball lost $792,913.
Notably, none of the UConn Huskies sports programs were profitable back in FY2023.
Overall, it’s clear that UConn stands out as an outlier with higher ticket sales and overall revenue for basketball than football. The university’s next NCAA financial report (FY2025) is set to be released in January 2026.
