Ohio's athletic department made $28.7 million last year, with $18.8 coming from university subsidies
The Ohio athletic department turned a profit of nearly $1.6 million last year, according to a financial report released by USA Today on Saturday.
The athletic department made $28.7 million, according to the report. Its largest source of revenue came from student fees, which totaled $16.4 million. Student fees are money from undergraduate tuition that is allocated to the athletic department by the university.
The school received another $2.4 million in school funded subsidies last academic year.
The $18.8 million that the athletic department received from the university means that 66 percent of their revenue was subsidized.
Last year, the athletic department made $1.2 million from ticket sales. It also received $3 million in contributions, the largest amount in the past decade.
Ohio’s athletic department spent $27.1 million last year, with more than half of that amount going to paying coaches’ wages and scholarships for student-athletes.
According to a previous Post report, head basketball coach Saul Phillips was the highest paid Ohio employee this year with a salary of $561,000. Head football coach Frank Solich, the second highest paid employee, made $497,760.
Ohio totaled the sixth-highest revenue total in the Mid-American Conference last year with Western Michigan ($34 million) finishing first and Bowling Green ($21.8 million) finishing last.
Miami subsidized its athletic department with $16 million from students fees. Its athletic department made $33 million last year, according to the report.
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Ohio State totaled the third largest revenue total last year, making $167 million last year. They did not receive any subsidies from the university. Its athletic department profited just over $13 million.
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