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SEC, Florida strong in financial arms race (Andreu)

Discussion in 'RayGator's Swamp Gas' started by gatorjjh, Jul 17, 2020.

  1. gatorjjh

    gatorjjh A Gator with a Glass half full attitude Moderator VIP Member

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    SEC, Florida strong in financial arms race
    Robbie Andreu Gvl Sun Sports
    Thanks to football, the University of Florida’s powerful economic engine, the University Athletic Association has posted another successful year financially, producing an operational revenue of $17.9 million for the fiscal year that ended June 30, 2019.
    That’s almost six million more than a year ago, when the UAA’s operational surplus was $12,039,389.

    This year’s $17.9 million profit ranks third among SEC schools, behind Texas A&M ($43.7 million) and Georgia ($30.7 million). UF produced $159.7 million in total operational revenue (fourth most in the SEC and ninth most in the nation) and had $141.8 million in expenses, which ranks seventh in the SEC and 16th in the nation. USA TODAY compiled the financial data in partnership with Syracuse University’s S.I. Newhouse School of Public Communications. USA TODAY published the annual database on Thursday.

    As it always does, the football program led the way for UF’s 21 sports teams in 2018-19, producing a profit of $47,950,819. The program had a total operational revenue of $87,450,485 to go along with expenses of $39,499,666.
    The figures are in UF’s annual financial report that was recently sent to the SEC Office. USA Today acquired a copy of the report.

    Men’s basketball was the only other UF program to make a profit, bringing in $2,455,291 in 2019. UF’s 19 other programs, which traditionally generate limited or no revenue, finished the year $33,528,175 in the red.

    Football’s largest revenues were generated by contributions from fans and boosters ($32,418,131), ticket sales ($26,106,819), media rights ($12,696,33), the SEC bowl distribution ($8,498,033) and bowl revenue ($2,696,050).
    The program’s biggest expenses were for coaches’ salaries ($12,050,286), game expenses ($5,446,663), team travel ($1,950,668) and bowl expenses ($1,760,352).

    Men’s basketball, the only other program to show a profit, had a total operational revenue of $12,172,678 and expenses of $9,717,387 for a total in the black of $2,455,291.
    Basketball’s biggest revenues came through media rights ($3,461,383), contributions ($2,825,945) and ticket sales ($2,400,413). The biggest expenses were for coaches’ salaries ($3,595,047), team travel ($1,274,007) and athletic facilities debt service, leases and rental fee ($1,090,611).

    The overall operational revenue for UF’s 21 programs was $159,706,937, with expenses of $141,829. The expenses are more than $7 million less than last year’s.
    In 2017, the overall athletic program had a profit of $17,375,976, with football generating a profit of $43,726,034. In 2016, the UAA’s overall profit was $20,133,9936, with football generating a profit of $47,803,655.

    The coronavirus pandemic casts a murkier outlook for what athletic department ledgers will look like for the current fiscal year. Any disruptions to the football season, a cash cow for SEC athletic departments, would be expected to result in significant revenue decreases. Many schools are budgeting for decreases.

    Total operating revenue
    Here’s a look at how SEC schools ranked in total operating revenue for the 2018-19 fiscal year. Schools are listed with their national rank in parentheses.
    Texas A&M (2): $212.7M
    Georgia (5): $174M
    Alabama* (7): $164M
    Florida (9): $159.7M
    LSU (10): $157.8M
    more at:
    SEC, Florida strong in financial arms race
     
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  2. gatorgeezer

    gatorgeezer VIP Member

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    saw article listing UF 9th in revenue nationally. Was surprised to see FSU 12th, considering their reduced football attendance (average 54K) in 2019.
     
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  3. thekentuckygator

    thekentuckygator GC Hall of Fame

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    They include taxes. Lol
     
  4. Endless Excuses

    Endless Excuses GC Hall of Fame

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    Yeah I cant believe they can generate that much profitability from selling clown noses and farting contests....honestly I wouldnt believe FSU's accounting.
     
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  5. gatorjjh

    gatorjjh A Gator with a Glass half full attitude Moderator VIP Member

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    Part of the reason we are in better shape than many there's we have had a combination of really outstanding athletic directors different skills different styles but both excellent at the job
     
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  6. DoctorGator

    DoctorGator GC Hall of Fame

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    Then we should be able to pony up another $1.5million for football recruiting, so we would at least be close to what Georgia spends on it.
     
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  7. Endless Excuses

    Endless Excuses GC Hall of Fame

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    I forgot to mention Candy Fisher has also been a huge revenue generator for them..,
     
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  8. tigator2019

    tigator2019 GC Legend

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    In my head--- UF
    Strong financial footing. So good to read!
     
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  9. HisDoc

    HisDoc GC Hall of Fame

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    Great to be profitable...in two sports, no less. I'd like to see how many programs can boast that.

    But those numbers show that even the few programs that can run a profit do it on a relatively slim margin (~10%). And ticket sales in all sports represent roughly 20% of the total revenue. I realize the better athletic departments have some reserve. But there is no version of sports without ticket sales where any program can even break even this year without big cuts in expenses. I think we'll see more of what we saw FSU do...and even Stanford.
     
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  10. rmonteag

    rmonteag GC Legend

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    Perfect! They can sustain not playing ball this fall!
     
  11. HisDoc

    HisDoc GC Hall of Fame

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    Look at the numbers again...no they can't! Unless they hold all football related spending (salaries, etc).
     
  12. INGATORSWETRUST

    INGATORSWETRUST GC Hall of Fame

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    Ticket sales for football were $26 million. Playing in front of any empty stadium results in an operating loss for next year. If the season is lost, the loss becomes even worse. The Gators are in a better position to survive the loss of a football season than most programs, but this will result in most athletic associations and universities scrambling if the football season is lost
     
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  13. manigordo

    manigordo GC Hall of Fame

    Foley finally gets some credit! Or at least he should.Only jjh referenced him.
     
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  14. rmonteag

    rmonteag GC Legend

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    Welp...they better figure it out...cause its not happening!
     
  15. HisDoc

    HisDoc GC Hall of Fame

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    I think that's almost certainly true.
     
  16. justinwitt07

    justinwitt07 GC Hall of Fame

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    Does anyone think that we could possibly not be in the top 10 in spending on recruiting because of our proximity to so many top shelf recruits? I’ve been mulling that one over since I read that list of the top ten spenders. Trying to make it make sense in my head as to why we wouldn’t be spending at the same approximate level
     
  17. gatorjjh

    gatorjjh A Gator with a Glass half full attitude Moderator VIP Member

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    proximity could be part of it another factor could be that we just don't do the elaborate over the top stuff others do...
     
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