How Much Money Does Fsu Football Make

Inside Penn State's Fascinating 2020 Football Budget

How did the Lions spend, and make, coin during the COVID season? A new financial study explains.

Penn State recently released its 2021 athletics financial written report, which expectedly reported a $23.9 meg arrears for the fiscal year. The written report covers June 2020-July 2021, the heart of COVID-nineteen'southward impact on Penn State's athletic department.

The report underscored the pandemic's disruption of Penn State sports, 1 that Athletic Director Sandy Barbour referenced significantly last yr. The able-bodied department had projected a acquirement shortfall of $lxx million for fiscal yr 2021, which it planned to offset through price-cutting measures, its budget surplus and a university loan.

For FY 2021, Penn Land reported $130,050,505 in expenses and $106,159,518 in revenue, leading to a shortfall of $23,890,987. The prior year, Penn Country reported a surplus of nearly $7.two million. And in 2019, Penn Country reported a surplus of almost $4.two 1000000.

Revenue and expenses were significantly downward from FY 2020, which was understandable. Penn State did not host fans for home sporting events during the 2020-21 athletic calendar twelvemonth, which included simply five home football games and no bowl appearance. Penn State'southward athletic department also went more than a year without making off-campus recruiting visits.

Still, information technology'southward fascinating to note that Penn State'due south football programme yet generated a surplus in a season without fans. Information technology wasn't much, well-nigh $five.four million, or a piffling over 10 percentage of the $53 1000000 it generated during the 2019 season.

Nonetheless, that Penn Land generated any football surplus in 2020 demonstrated the power of the Large Ten television receiver contract in a year when the program lost more than $1 meg regarding ticket sales.

During the 2020 season, Penn Country'south chief loss, of course, was ticket sales, which topped $37.6 million in 2019. All other principal revenue sources were down as well, resulting in a $threescore one thousand thousand difference between the 2019 and 2020 seasons.

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But Penn Land too saved money (about $12 million) by not going to a bowl game, requiring fewer stadium personnel on gamedays and skipping recruiting trips. Annotation, however, that coaching salaries were about the same.

In 2019, when Penn Land generated a record $101.8 million in revenue, the plan ranked third nationally in full omnipresence, hosting 739,747 fans at Beaver Stadium. That bodes well for a 2021 fiscal rebound, since the Lions hosted 747,595 fans (2d nationally). It as well helped fuel the ten-yr, $70 million guaranteed contract that head coach James Franklin signed in Nov.

Franklin said the contract represented Penn State's "renewed delivery" to the football plan. Upon emerging from the COVID year of 2020, Penn Country appears poised to continue that commitment.

Some other interesting numbers from Penn State'southward FY 2021 report:

$32.1 million: What Penn Land spent on coaching salaries, its biggest budget line item, across all sports.
$21.3 million: The price of scholarships for 603 athletes. A total of 87 football players received about $5 meg in scholarships.
$427,930: The amount Penn State paid in severance to coaches: $381,883 in football and $34,047 in men'south basketball.
$1.4 1000000: The men's basketball game team's surplus, which resulted from the nearly $7.5 meg from the NCAA and Big Ten media rights contracts.
$0: Penn State reported that information technology received no direct financial support from state or federal funds, no support from student fees and no straight academy funds.

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Source: https://www.si.com/college/pennstate/football/penn-state-football-2020-budget-spending

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