The Ohio State Department of Athletics continues to flourish on and off the field, reporting a record $279,549,337 in fiscal year 2023.
According to an annual financial report filed with the NCAA, revenue grew 11% from the previous fiscal year’s record of $251,615,345.
“Ohio State athletics remain on a rock-solid foundation thanks to the tremendous support from our fans, students, and alumni,” said Gene Smith, senior vice president and Wolfe Foundation endowed athletic director. “They continue to show up, tune in and support our student-athletes, coaches and staff at our fields, stadiums and arenas.”
Some income highlights include more than $73.3 million in ticket sales, with football accounting for $64.3 million of that total. The 2022 football season featured eight home games, as well as showcase matchups against Notre Dame and Michigan.
In fiscal year 2022, the department recorded ticket revenues of $59,649,921 for all sports. Buckeye fans continue to support their teams, and ticket sales remain the department’s largest single source of revenue.
Media rights revenue – radio, television, and digital – was $49,796,025 in FY 2023, up from $48,908,898 million in FY 2022. Individuals, foundations, and organizations contributed a total of $57.8 million.
The university reported $23,829,914 in athletic student aid. The total operating expenses in FY 2023 were $274,948,554. Athletic facilities debt accounted for $45.3 million in costs, with the institution making additional principle payments to new facilities such as the Schumaker Complex, Covelli Center, and other projects to lower future payments.
Ohio State boasts one of the largest sports departments in the country, with 16 men’s teams, 17 women’s teams, three mixed teams, and roughly 1,000 student-athletes. The department is self-funded and does not receive any tuition or tax monies.
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