For first time, Razorback athletics division tops $150 million in annual income
The College of Arkansas athletics division topped $150 million in annual income for the primary time in fiscal yr 2022 (July 1, 2021 – June 30, 2022).
The figures are within the college’s annual Fairness in Athletics Disclosure Act (EADA) survey. Arkansas, and each different intercollegiate athletics division within the nation, self-reports monetary data detailing working revenues and bills to the U.S. Division of Schooling yearly to adjust to the EADA Act of 1994. The EADA requires disclosing details about varsity groups and the monetary assets and personnel the college dedicates to these groups.
Arkansas’ athletics division funds 470 athletes competing on 19 groups — eight for males and 11 for ladies. It takes no scholar charges or taxpayer help.
In accordance with the survey, the athletic division’s income totaled $154.55 million, up 16.3% from $132.81 within the earlier fiscal yr. Bills had been $148.28 million, additionally a report, leaving the division $6.27 million in revenue.
About 70% of the division income got here from two sports activities — soccer and males’s basketball. They’re the one two sports activities that completed within the black final yr.
The soccer program had complete working income of $84.50 million, with bills of $45.99 million ($38.51 million revenue).
Males’s basketball income totaled $24.09 million, and $11.80 million in bills ($12.29 million revenue).
The UA baseball division is the one different program with income hitting seven figures at $6.15 million. With bills of $7.43 million, this system operated at a deficit of $1.28 million.
Arkansas’ athletics division topped $100 million for the primary time within the 2014-2015 fiscal yr ($114.17 million). It climbed steadily till the 2019-2020 fiscal yr, when the COVID-19 pandemic brought on a double-digit income decline from $137.49 million to $123.35 million.
The NCAA additionally requires member faculties to submit a extra detailed income and expense report for every fiscal yr. That report is being audited and is as a result of NCAA by Jan. 15, 2023.
CFO PERSPECTIVE
Clayton Hamilton has been the UA athletic division’s chief monetary officer since January 2010. He stated that, like most schools and universities, the absence of COVID-related venue capability restrictions final yr was a welcome sight.
In 2020-2021, soccer and basketball video games allowed a a lot smaller capability — 16,500 followers for soccer at Donald W. Reynolds Stadium and 4,000 for basketball at Bud Walton Area— to stick to Arkansas Division of Well being tips. The consequence was a 121% drop in ticket gross sales income, right down to $15.6 million.
In 2021-2022, Hamilton stated UA ticket gross sales swelled to barely greater than $48 million.
“Venues opened again to capability, and followers confirmed up,” Hamilton stated. “We see that all through the sports activities trade. Ticket gross sales had been a giant driver [in the revenue increase] year-over-year.”
Hamilton stated the attendance bump additionally lifted concession gross sales on the division’s three largest venues — Donald W. Reynolds Razorback Stadium, Bud Walton Area and Baum-Walker Stadium. Arkansas additionally obtained a seven-figure payout from the soccer workforce’s look within the Outback Bowl, this system’s first bowl look in six years. The Razorbacks obtained a $1.5 million journey allowance from a bowl payout of $6 million, and the rest was break up among the many Southeastern Convention workplace and all member faculties.
“That’s how all of the bowl income is dealt with,” Hamilton stated. “Contributors get a journey allowance, and the web will get distributed to every college and convention workplace.”
