Ohio State Athletics Hit Record Revenue of $251M in 2022

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Ohio State's athletic department is looking back on an impressive 2022 after a fiscal review of the year revealed record-setting revenue surpassing a quarter of a billion dollars. 

The department revealed Tuesday that it generated $251.6 million in revenue from July 1, 2021 to June 30, 2022. That's more than double the $106.9 million the Buckeyes generated in the previous fiscal year, which included a shortened football season played in front of many empty stadiums. 

OSU's previous top revenue was $233.9 million back in 2020 before the COVID-19 pandemic had started. 

According to the Newark Advocate, Ohio State's most recent revenue was the second-most posted by a D-I school since 2005. Only Oregon posted more, producing a whopping $391.8 million back in 2020 before the pandemic started. 

Ohio State currently sponsor 36 varsity sports, with an operating surplus in 2022 of $25.9 million. 

Donations had a big impact on OSU's bottom line in 2022. The school reported $62.9 million in total contributions, up from $19.7 million in the previous fiscal year and $48.1 million in fiscal year 2020. 

ā€œBuckeye Nation continues to show their tremendous support for our incredible student-athletes, our coaches and our support staff,ā€ athletic director Gene Smith said in a statement. ā€œWe are grateful for the enthusiasm they bring to our stadiums, fields and pools.ā€

TV rights were another big contributor, as the Buckeyes share in the Big Ten's deals with ESPN and Fox. 

Ohio State took in $48.9 million in media revenue, including $36.5 million attributed to football and $12.4 million attributed to men's basketball. Its media rights revenue was $40.6 million during the 2021 fiscal year, following $46.8 million in the 2020 fiscal year that been its previous high.

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