Texas reports record (for now) $271 million in revenue
For years, Texas was average at football yet still elite at generating income. Texas is now elite at football, and has now set a record for revenue generation.- ZACH BARNETT
- 27 MINUTES AGO
Texas reported $271 million in operating income in fiscal year 2023, according to USA Today on Wednesday.
"We’re very fortunate that we have an incredible fan base that supports our athletic program and loves our great institution,” Texas athletic director Chris Del Conte told the paper. “We’re very, very proud of our athletic program, and the support of our institution is second to none.”
Football accounted for $183 million in revenue and was credited with $122 million in profit.
Texas saw an $11 million increase in donations to $86 million; a $10.2 million jump in sponsorships and licensing, to $54.7 million; and a $5.7 million increase in ticket sales, to $63.3 million.
In addition to a gridiron revival under Steve Sarkisian, Texas also credited the opening of its new basketball arena and the beginning of a new local multimedia rights deal with Learfield as relevant factors for the increase in revenue.
Texas annually finishes first or second in the Learfield Directors' Cup standings, but the 2023 calendar year was a banner year even by their standards:
-- Football won the Big 12 for the first time since 2009 and reached its first College Football Playoff
-- Volleyball captured its second consecutive national championship
-- Men's Basketball reached its first Elite Eight since 2008
-- Baseball shared a Big 12 championship and reached the Super Regional
-- Softball reached the Super Regional
-- Women's Basketball shared a Big 12 championship
Though $271 million is a new record for college athletics, it won't stand for long. For one, other behemoths such as Ohio State, Michigan and Alabama have yet to release their financials for FY2023, so they could surpass the Longhorns. For another, Texas will break its own record moving forward as the Longhorns continue to reap the benefits of the 2023 football season and as the athletics department moves into the SEC beginning in July.
