Menu
Colleges

Rutgers to see another budget shortfall despite Big Ten revenue shares

Rutgers received $29.6M from the Big Ten, about $18M more than it had been getting annually during its first six years in the leagueGETTY IMAGES

Six years after Rutgers joined the Big Ten, the school has received its first full share of the league's revenues -- but it will be "far from enough to get the athletics division out of the red," according to Koloff & Rimbach of the Bergen RECORD. The Big Ten distributed a combined $157M less to its members in FY '20-21 than it did the previous year, with revenues taking a hit from the pandemic. Rutgers received $29.6M from the Big Ten, about $18M more than it "had been getting annually during its first six years in the league." Despite that, "another large budget shortfall is expected for 2020-21." Years ago, Rutgers officials said that they "expected fiscal 2021 to be the year that its athletic division would finally break even as it received a full share of conference revenue." But the division has more than $250M in debt, and costs have been growing since it joined the Big Ten. The conference distributed a combined $532M to its 14 member schools for '20-21. That was down from $689M the previous year, when 12 schools each received a full share of at least $53M. In all, the conference deducted $55.8M for COVID testing in '20-21. Rutgers' conference revenues of just under $30M in '20-21 reflected a $4M deduction for COVID testing and another $6M deduction to begin repaying a $10M loan from the Big Ten. On top of those deductions, the athletics division "began repaying another $38 million loan from the conference" (Bergen RECORD, 1/18).

SBJ Morning Buzzcast: June 24, 2022

Excel Sports scores at NBA Draft; Breaking down year one of the USFL; DP World Tour finally states its LIV Golf policy and big names in sports invest in Jackpot.

SBJ Unpacks: Thaddeus Young, NBA forward and venture capitalist

SBJ's Austin Karp posted up with NBA power forward Thaddeus Young. The 15-year veteran discussed his venture capital strategy, his investment in technology and much more.

SBJ Spotlight: Predicting which U.S. cities will host World Cup matches

SBJ Facilities Writer Bret McCormick and Soccer Writer Alex Silverman say five U.S. cities are locks to host World Cup matches in 2026. But they have different ideas when it comes to the rest of the field.

Shareable URL copied to clipboard!

https://sbjcd02.centralus.cloudapp.azure.com/Daily/Issues/2022/01/19/Colleges/Rutgers.aspx

Sorry, something went wrong with the copy but here is the link for you.

https://sbjcd02.centralus.cloudapp.azure.com/Daily/Issues/2022/01/19/Colleges/Rutgers.aspx

CLOSE
;