Ohio State reports athletics budget deficit of nearly $38 million from 2024 fiscal year

Ohio State reports athletics budget deficit of nearly $38 million from 2024 fiscal year

Ohio State’s athletic department reported an operating deficit of nearly $38 million during the most recent fiscal year, according to an annual financial statement submitted to the NCAA.

The athletic department spent a record $292.7 million from July 1, 2023, to June 30, 2024, while it also saw a dip in overall revenue.

It brought in $254.9 million in total operating revenues over the period, a decline of $24.6 million from the previous fiscal year, contributing to the budget shortfall.

The school had expected to be in the red since last summer. In an interview with The Dispatch, athletic director Ross Bjork forecast an eight-figure deficit.

Need a break? Play the USA TODAY Daily Crossword Puzzle.

But exact figures had not been provided until Ohio State released its revenue and expense report on Monday in response to public records requests by multiple media outlets.

The school had expected to be in the red since last summer. In an interview with The Dispatch, athletic director Ross Bjork forecast an eight-figure deficit.

 

Need a break? Play the USA TODAY Daily Crossword Puzzle.

 

But exact figures had not been provided until Ohio State released its revenue and expense report on Monday in response to public records requests by multiple media outlets