The Univ. of Michigan's athletic department FY24-25 budget will be “the largest in its history” with projected revenues of $255.7M, according to Tony Garcia of the DETROIT FREE PRESS. Garcia reported that the revenue is “projected to jump” $25.1M compared to the FY23-24, which totaled $230.6M. The “largest chunk” of additional revenue “will come from ticket sales,” projected to increase by $14.8M in the coming season “as the football team goes from seven games at home last year to eight in 2024.” UM’s total expenses are “expected to be” $253.6M, leaving them a “small surplus” -- $2.1M for the upcoming fiscal year. That is “up from an approximately $200,000 surplus” in the 2023-24 budget. Additionally, Garcia wrote the expansion of the Big Ten to 18 teams will “lead to revenue from the TV rights deal,” which began last year, increasing by $12.9M (DETROIT FREE PRESS, 6/20).
BIG HOUSE BREWS: In Detroit, Angelique Chengelis wrote after the “latest approval to sell alcohol at Michigan Stadium” this fall -- Michigan launched alcohol sales at Crisler Center and Yost Arena earlier this year -- the department is projecting $2.6M in “net revenues from alcohol sales” at the three facilities, and $1M in “revenues from alcohol sponsorships.” Chengelis also noted “operating expenses” include a $10M “transfer to a deferred maintenance fund” and a $7.8M “transfer to the university” (DETROIT NEWS, 6/20).
