IU ranks best in Indiana in sports revenue; claims anomaly
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A report by USA Today ranks Indiana University athletics 13th nationally in total revenue with $166.7 million in 2022. The analysis breaks down the annual NCAA Membership Financial Report, compiling revenue and expenses from 232 Division I public schools across the nation.
The report also found IU to be the most profitable school in the nation with $34.3 million. However, the profit margin was misleading, according to IU.
In a statement, the university said, “The Indiana University Foundation (IUF) provided a gift to Indiana University to be used for unrestricted needs consistent with the university’s mission to mitigate the impacts of the COVID-19 pandemic. A portion of these funds were applied to IU Athletics. The true picture for Fiscal Year 2022 is that the Indiana University Department of Intercollegiate Athletics’ expenditures were equally aligned with its revenues.”
USA Today reported that IU had received $61.6 million in contributions compared to 2020, where the athletic department received just $23.3 million. The donation by IUF is considered a contribution under USA Today’s definition.
“In reality, we’re kind of where we always were, between 25th and 35th (in the nation) in revenue. It was just a one-time lump sum given to us by the IU Foundation to help offset the problems that we had financially due to the pandemic.” said Senior Associate Athletic Director for Strategic Communications Jeremy Gray.
Gray noted that while the report shows the school profited over $30 million this year, that money came from IUF and is meant to cover the deficit in the 2021 fiscal year caused by the pandemic, which disallowed the university to sell tickets and make money from the Big Ten’s television deals.
Despite the lack of significant profit from athletics last year, Gray still found the year to be financially successful.
“There are a lot of schools that went through this, that let go a lot of employees, cut sports, still are trying to fight their way out of their issues. It feels like we have been very responsible. We have been able to cut some expenses that have kept in mind what directly impacts the student athletes and their experiences here.”
Gray mentioned that the athletic department plans to pay IUF back periodically.
IU ranked 5th in the Big Ten in revenue while Purdue ranked 11th out of the 13 public universities in the conference. Another factor that weighs into revenue and expenses is that IU has 24 teams for NCAA sports while Purdue has 18 teams.
In terms of profitability, Purdue was not far behind, ranked 5th with $22.1 million.
The Big Ten’s 13 public schools combined for $2.04 billion in total operating revenue, only second to the SEC. The Big Ten schools average revenue totaled at $156.9 million per school while the median was $147.1 million.
Total revenue by school in Indiana:
- Indiana – $166.7M – 13th nationally
- Purdue – $115.1M – 37th nationally
- Ball State – $28.8M – 120th nationally
- Indiana State – $18.6M – 157th nationally
- Purdue Fort Wayne – 13.3M – 203rd nationally
- IUPUI – 10.3M – 221st nationally
Top 5 schools in total revenue:
- Ohio State – $251.6M
- Texas – $239.2M
- Alabama – $214.3M
- Michigan – $210.6M
- Georgia – $203M