Ohio State Reports Record $293M Athletic Spending Alongside $37.7M Deficit

Despite winning the College Football Playoff championship, Ohio State's athletic department faces financial challenges due to reduced ticket revenue and increased coaching costs.

Ohio State's athletic spending reached a record $293 million for the 2023-24 fiscal year, the highest ever reported by a Division I public school.
The university reported a $37.7 million deficit, attributed to reduced ticket sales from fewer home football games and declining sponsorship and licensing revenue.
Coaching expenses saw a significant increase, with $28.5 million allocated to football coaching salaries and $9.2 million in severance payments, including a buyout for former basketball coach Chris Holtmann.
Revenue dropped to $254.9 million, a $24.6 million decrease from the previous year, driven by fewer home football games and reduced contributions and donations.
Athletic Director Ross Bjork announced plans to address the deficit through reserve funds, future earnings, and a new revenue-sharing model with athletes starting next fall.

Cleveland Plain Dealer