Indiana Hoosier basketball’s financial performance in FY2024
BLOOMINGTON, Ind. (BVM) – Indiana University’s 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 IU’s men’s basketball team. Note that FY2024 covers the reporting period from July 1, 2023 to June 30, 2024.
Revenue: Indiana’s athletic department generated a record-breaking $173.6 million in total operating revenue within FY2024, which marks a $28.8 million increase from the previous year.
Men’s basketball reported revenue totaling $31.1 million in FY2024 (up $4.1 million). The only sports program that brought in more revenue was football at $89.3 million.
Ticket sales: Men’s basketball remains the most popular sport on campus based on ticket sales; the program generated $15.2 million in ticket revenue while football brought in $10 million.
Other game day revenue: Men’s basketball led all IU sports programs in revenue from game programs, novelties, parking and concessions – totaling $1.6 million.
Media rights: Radio, television, internet, digital and e-commerce revenue for men’s basketball went up to $12.7 million. In comparison, football’s media revenue totaled $38.2 million.
Donations: The generosity of donors helps Hoosiers athletics stay competitive. Contributions provided and used by the department for all sports increased by 20%, reaching $23.6 million.
Expenses: Indiana’s athletic department had record-high expenses in FY2024, totaling $176.7 million, which marks a $37.6 million increase from the previous year.
Football was the most expensive sport to operate at $61.6 million, while men’s basketball followed at one-third of the cost at $20 million.
Meals: IU athletics spent $2.4 million on non-travel student-athlete meal allowances and food/snacks in FY2024. Of that total, football accounted for $1.2 million, while men’s basketball accounted for $272,327.
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 $2.8 million on team travel – outspending football, which spent $2.1 million.
Game expenses: Game-day expenses for men’s basketball – covering officials, security, and event staff (excluding travel) – rose 10%, nearing $2.2 million. Meanwhile, football’s game-day costs totaled $2.5 million.
Recruiting: Men’s basketball spent $621,224 on recruiting in FY2024 (a 30% increase from the previous year). Football, on the other hand, spent double at $1.3 million.
Severance payments: IU paid $1.6 million in severance payments and applicable benefits for past men’s basketball coaches and administrative personnel.
Salaries: Mike Woodson is the No. 19 highest-paid basketball coach for the 2024-25 season. In FY2024, he earned $5.3 million in salary, benefits and bonuses.
Profits: Unfortunately, Indiana’s athletic department recorded a -$3.1 million deficit in FY2024.
However, men’s basketball was profitable at $11.1 million. The only other profitable sports program at IU was football at $27.7 million.
Overall, significant financial changes are expected as Mike Woodson prepares to step down as Indiana’s head basketball coach at the end of the season. The university’s next NCAA financial report (FY2025) is set to be released in January 2026.
