Tennessee Vols football sets new financial record in FY2023
KNOXVILLE, Tenn. (BVM) 鈥� The University of Tennessee athletic department has filed its to the NCAA for the 2023 fiscal year.
The 80-page filing for fiscal year 2023 covers the reporting year from July 1, 2022 to June 30, 2023. Many can recall this was during Josh Heupel鈥檚 second season as he led the Volunteers to an 11-2 record, including a win in the Orange Bowl.听
Here are the takeaways regarding Tennessee football鈥檚 revenue, expenses and profits.听
Revenue
Tennessee athletics has joined the the department as a whole generated $202,097,305 in total operating revenue in FY2023. This is a that the school brought in during FY2022.听
Few college athletic departments have joined the milestone $200 million revenue club; the previous fiscal year (2022) included 听听
The football program particularly made huge financial strides in FY2023. in FY2023 for the most revenue generated in its program鈥檚 history, according to Knoxville News. Football in revenue, which is 67% of the department鈥檚 total revenue. Only surpassed this revenue mark last year. Notably, football generated 听
The spike in revenue can be mostly attributed to a few different categories. For example, in FY2023, which is in comparison to FY2022. novelties, parking and concession sales ($4.6 million in FY2022 to $8.8 million in FY2023). Football revenue from royalties, licensing, advertisement and sponsorships
Expenses
Tennessee athletics across in FY2023. This is by far the most that the athletic department has spent in ; in FY2022, the
The Tennessee football program, in particular, spent In comparison, football鈥檚 expenses totaled
One notable expense is the between FY2022 to FY2023 for head and assistant football coaching salaries, benefits and bonuses. for football (lodging, meals, air and ground travel) increased by almost half a million dollars. Football which is 61% of the university鈥檚 recruiting budget.听
Profits听
The Tennessee during FY2023, which is a stark comparison to the (-$2.5 million).听
which is a from the prior reporting year. Maybe the Volunteers can crack the list of the most profitable college football teams, but it won鈥檛 be clear until data on all of the teams is readily available.听
Overall, for the Volunteers; made $5.5 million in profits in FY2023.
