How Longhorns football helped UT athletics hit $300M records
AUSTIN, Texas (BVM) – The University of Texas at Austin athletic department has made history as the first NCAA Division I public school to surpass $300 million in both revenue and expenses in a single year, according to its financial report to the NCAA.
BVM Sports obtained the 82-page report through an open records request, revealing key insights into how football contributed to the $300 million figures. Note that FY2024 covers the reporting period from July 1, 2023 to June 30, 2024.
Revenue: The Texas athletic department generated $332 million in total operating revenue in FY2024 – the largest ever reported – following a $60 million increase from the previous year.
Football accounted for 62% of the department’s total revenue, bringing in $204.7 million.
Ticket sales: Football generated $52.8 million in ticket sales, which was 87% of the athletic department’s total ticket revenue.
Other game day revenue: Football games continue to bring in top dollar, as the program generated $6.2 million from game programs, novelties, parking and concessions. Baseball ranked second at $843,345.
Media rights: Football brought in $19.7 million from radio, television, internet, digital and e-commerce revenue, while men’s basketball generated $1.7 million from its media revenue.
Royalties, licensing, ads and sponsorships: Football’s revenue within this category continues to increase, rising from $33.9 million to $46.3 million year-over-year.
Donations: The generosity of donors helps UT athletics stay competitive. Contributions provided and used by football increased by $14.1 million, totaling $63.3 million. The rise can be attributed to “a general increase in pledge donations due to increased fundraising efforts, aided by the success of the football team.”
Expenses: Longhorns athletics increased its year-over-year spending by $92.7 million, bringing its total FY2024 expenses to $325 million (the highest expenditure in department history).
Football’s expenses rose 8%, bringing its total operating costs to $65.8 million. The second-most expensive sports team was men’s basketball at $15.5 million.
Meals: Football spent $1 million on non-travel student-athlete meal allowances and food/snacks in FY2024, while men’s basketball accounted for just $184,528.
Team travel: Meals provided to players on the road were reported under “team travel,” but this category also considers lodging, air and ground travel. Football spent the most in this category at $3.4 million.
Game expenses: Football’s game-day expenses – including officials, security, event staff, and more (excluding travel) – totaled $9.7 million, accounting for 45% of the university’s total spending across all sports.
Recruiting: Football boosted its recruiting budget by $1 million, bringing the total to $3.6 million, which made up 62% of the school’s overall recruiting expenses. The spending laid the groundwork for the Longhorns to acquire the No. 6 ranking in the Class of 2024 and No. 1 class in 2025.
Severance payments: Football continued to pay $1.9 million in severance payments and applicable benefits for past coaching and administrative personnel in FY2024.
Salaries: Steve Sarkisian, the third highest-paid college football coach in the nation for the 2024 season, earned $10.5 million in salary, benefits and bonuses per UT’s FY2024 report.
Profits: Despite setting records for both revenue and expenses in FY2024, the department did not break its profit record; UT reported a surplus of just $6.9 million (down $32 million from the previous year).
The only profitable Longhorns sports teams were football ($139 million) and men’s basketball ($7.7 million).
Overall, it’s clear that football greatly contributed to the athletic department’s record-breaking revenue and expenses in fiscal year 2024. UT’s next NCAA financial report (FY2025) is set to be released in January 2026.
