The University of Utah’s athletic program reported a $17 million deficit for the 2024 fiscal year, attributed to external factors such as the Pac-12 fiasco that resulted in overpayments by Comcast. Utah was forced to take a cut in revenue, resulting in a significant swing from the previous year. Additionally, the university did not receive revenue payments owed as part of a separate settlement with Oregon State and Washington State after leaving the Pac-12. The deficit was covered by athletics reserves from previous years.
While universities across the country have experienced deficits, Utah’s was compounded by external factors and their departure to the Big 12. However, key revenue performance indicators such as ticket sales and donations improved from the previous year. Football and men’s basketball were the only profitable sports for the university, bringing in $79 million and $12.9 million in revenue, respectively.
Despite owing nearly $8 million in the Comcast settlement, the football program still made a profit of approximately $27 million. Men’s basketball also operated at a profit. Other sports, outside of lacrosse and volleyball, had larger deficits compared to the previous fiscal year. Overall, the university is working to address the deficit and improve revenue streams in the upcoming years.
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