Ohio State athletics projects $130 million revenue decrease for 2020 due to no fall sports

COLUMBUS, Ohio ― The cancellation of fall sports due to the coronavirus pandemic will cost Ohio State athletics $130 million in revenues.

According to the agenda for the Board of Trustees’ Audit, Compliance and Finance Committee meeting on Thursday, athletics revenue is projected to decline $130.3 million compared to the 2019-20 fiscal year “due to the cancelled fall athletics season and related ticket, media, conference, and game guarantee revenue.”

The report covered only revenue — not expenses saved during the same period, such as travel for teams who are not playing. It also does not include any potential revenue from a winter or spring football season. The Big Ten has not officially declared that such a season will happen or released a schedule or plan for its implementation.

Per Ohio State’s Equity in Athletics Disclosure Act report to the NCAA for 2018-19, the athletic department received $50.5 million in football ticket revenue and another $34 million in media rights income. Both sources would presumably be compromised in the winter or spring but could offset some of the projected decrease.

Ohio State football operated at a $55 million profit per that EADA report, with $115 million in revenue against $60 million in expenses. That budget surplus pays for many of the other athletic programs.

The agenda does not specify what if any cost-cutting measures will be necessary due to that revenue decrease. Other Big Ten programs with similar revenue shortfalls have implemented a wide range of responses, from pay cuts for coaches and other employees to furloughs and layoffs to Iowa’s decision to cut five sports programs last week.

According to the report accompanying the agenda, $170 million in federal stimulus funds helped offset cost increases for the university as a whole. The university reported positive cashflow of $248 million for the end of the fiscal year.

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