How did Oklahoma State athletic department fare financially for 2023 fiscal year?
STILLWATER — The Oklahoma State athletics department saw its revenue grow by nearly $18 million in the 2023 fiscal year, according to documents obtained by The Oklahoman.
The university, in its annual revenue and expenses report to the NCAA, showed a total revenue of $122,009,946 for the fiscal year, from July 2022 through June 2023.
The school’s athletic expenses totaled $121,003,194, leaving the department with just over $1 million in operating surplus.
In the 2022 fiscal year, OSU reported revenue to the NCAA of $104.4 million and expenses of $103.3 million, putting the school’s athletic surplus again in the $1 million range.
The 2022 fiscal year was the first in the school’s history in which it had an operating budget of more than $100 million.
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A notable jump in the OSU revenue came from contributions, which were reported at $45.4 million for 2023, significantly higher than the 2022 total of just under $19.1 million.
The current fiscal year will be the final one in which the current Big 12 media contract and related distributions are in effect. For 2023, OSU received $35.3 million in media rights, which includes the league’s television contract, and another $12.6 million in Big 12 revenue distributions. Of that $12.6 million, all but $877,200 came from football bowl game revenue.
The athletic department received just $637,248 in direct funding from the university.
Behind contributions and media rights revenue, OSU’s biggest income item was ticket sales, which produced nearly $13.3 million.
The largest expenses included coaches’ contracts, as well as salary and benefits for support staff and administration, which all together totaled just under $48 million.
The department spent $10.2 million on athletic student aid and $9.4 million on team travel. Debt service cost the university $2.8 million.
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This article originally appeared on Oklahoman: Oklahoma State athletics had nearly $18 million revenue growth in 2023
