Ohio State’s athletic department is taking out a loan from the university
, leaving Ohio State and others without nearly all revenue from ticket sales, often the top money-making source.
In recent fiscal years, OSU’s athletic department has reported around $50 million in revenue from the sale of tickets to football games as it packs Ohio Stadium, a venue seating more than 100,000 fans and serving as the third-largest stadium in the country. In the 2021 fiscal year, it reported only $25,614 from football ticket revenue.
Despite the significant hit that resulted in the loan, the pandemic is not due to alter a rosy outlook for the coming years, remaining largely a blip for the department’s finances.With the return of spectators to the stands at football games in 2021, athletics revenues have rebounded.. The total of $251.6 million was the most it had ever posted in one reporting year, and it operated at a $25.9 million surplus during the first post-pandemic year.
The trend is expected to continue, as Ohio State’s introduction of annual preferred seat contributions for football tickets has added to the revenue growth. The Big Ten’s latest media rights agreements, including new network partners in CBS and NBC, along with FOX, takes effect later this year. Audited revenue and expense figures from the current 2023 fiscal year, running through June, will not be available until early next year. The department provides annual financial reports to the NCAA.
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