University of Texas athletics accumulated slightly more than $271 million in operating revenue during its 2023 fiscal year, the largest single-year total since the NCAA began its current revenue-and-expenses reporting system in 2005.
The UT report, which USA TODAY obtained the report Wednesday through an open-records request in partnership with the Knight-Newhouse Data project at Syracuse University, means that Texas increased its revenue by nearly $32 million over the total it reported for 2022.
The next-highest revenue total ever reported came in 2022, when Ohio State posted $251.6 million. Oregon reported $391.8 million in 2020, but that included more than $270 million as a contribution for the renovation of its track and field stadium, according to USA TODAY's Steve Berkowitz and Kirk Bohls.
By category, Texas’ largest year-over-year increases were:
- $11 million in contributions, which rose to nearly $86 million.
- $10.2 million in money from sponsorships, licensing, royalties and advertising, which totaled $54.7 million.
- $5.7 million in ticket sales, which moved to $63.3 million.
Texas credited its football program with $183 million in operating revenue for 2023 and a $122 million surplus over operating expenses. Texas sold out its allotment of almost 68,000 football season tickets, not including the 18,000 tickets reserved for students, and has also sold out season tickets for men’s basketball, baseball and softball.
"We’re very fortunate that we have an incredible fan base that supports our athletic program and loves our great institution,” Texas athletic director Chris Del Conte said Wednesday. “We’re very, very proud of our athletic program, and the support of our institution is second to none.”
Del Conte said the biggest reasons for the increase in revenue were the school’s first year in its new arena, the Moody Center, “an incredible job by our development team” in restricted and unrestricted gifts and the first year of a new local media-rights agreement with Learfield.
During the 2022 fiscal year, of the more than 233 Division I public schools for which financial reports could be obtained, 181 had overall athletics department revenue totals that were lower than Texas’ fundraising total for 2023, according to USA Today.
Texas has already raised the money needed to finance a new indoor football facility, a cost estimated to run between $80 million and $90 million. Texas will break ground on the two-year project in June.
The Longhorns are preparing to join the Southeastern Conference this year, and Del Conte said that the ongoing 2024 fiscal year should be better than last year, USA Today reported.
