This UConn report is brutal ....
Athletics brought in $40.4 million last year. Expenses however totaled $80.9 million.
YIKES.
https://www.apnews.com/6d704448c5814814bb325338427ea71b
UConn spokeswoman Stephanie Reitz said the gap is a result of declining conference and media licensing revenue and rising costs.
“It is not sustainable and the Division of Athletics is continually working to identify savings and drive up revenue in order to help close this gap,” she said.
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Athletic Director David Benedict has said UConn’s financial struggles won’t impact the planned construction of new baseball, softball and soccer stadiums, which are being paid for mostly through private donations.
The school has not said whether it is contemplating eliminating any athletic programs. But Reitz said athletics remains an important part of the school’s fabric.
“UConn is today a top-20 university with outstanding academics and it is safe to say that we would not have gotten here without athletics,” she said. “It is not a coincidence that the university saw skyrocketing applications and a greater appetite for investment in UConn on the part of the state at the same time as successful athletic programs were raising the university’s profile statewide and nationally.”
Athletics brought in $40.4 million last year. Expenses however totaled $80.9 million.
YIKES.
https://www.apnews.com/6d704448c5814814bb325338427ea71b
UConn spokeswoman Stephanie Reitz said the gap is a result of declining conference and media licensing revenue and rising costs.
“It is not sustainable and the Division of Athletics is continually working to identify savings and drive up revenue in order to help close this gap,” she said.
____
Athletic Director David Benedict has said UConn’s financial struggles won’t impact the planned construction of new baseball, softball and soccer stadiums, which are being paid for mostly through private donations.
The school has not said whether it is contemplating eliminating any athletic programs. But Reitz said athletics remains an important part of the school’s fabric.
“UConn is today a top-20 university with outstanding academics and it is safe to say that we would not have gotten here without athletics,” she said. “It is not a coincidence that the university saw skyrocketing applications and a greater appetite for investment in UConn on the part of the state at the same time as successful athletic programs were raising the university’s profile statewide and nationally.”
