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UConn athletics reports $47M budget for '21 fiscal year

University said that its level of institutional support, $42.6M in FY '21, is projected to decrease to $33.6M in FY '22GETTY IMAGES

UConn athletics reported a $47.2M budget deficit for FY '21, up nearly $4M from the previous year, amid a "COVID-19-stricken stretch in which the football team did not compete in the fall of 2020 and both basketball teams held home games without fans during the 2020-21 season," according to Alexa Philippou of the HARTFORD COURANT. The deficit, which was called “unsustainable” by the school’s senate budgetary committee, is "offset each year by student fees and a university subsidy." After athletics was "instructed to cut the subsidy" by 25% (to $30M) by '23, the department announced in '20 that it "would cut four sports and institute other cost-saving measures." The school said that its level of institutional support, $42.6M in FY '21, is "projected to decrease" to $33.6M in FY '22. The school reported over $17.6M less revenue than it did in FY '20, falling from $76M to $58.3M, "in large part because of the lack of fans." Ticket sales for the football and both basketball teams accounted for nearly $9M of UConn’s revenue in the previous fiscal year -- which "only reflected spring sports" that were impacted by COVID-19 -- but just $106,052 in FY '21 (HARTFORD COURANT, 1/19).

RUNNING AT A DEFICIT: In New Haven, Paul Doyle writes UConn athletics "has been running with a deficit of more than $40 million the past five years." The school received $12.2M from Learfield for FY '20, but that number "was reduced" to $6.2M in the latest report. UConn also "saw a decrease in conference distribution money" from $3M to $1.2M (NEW HAVEN REGISTER, 1/19). USA Today's Steve Berkowitz reported in FY '20, UConn provided its athletics nearly $37M in school funds and $6.5M in student fees, and had a $2.8M operating deficit. In FY '19, it provided $33.5M in school funds and $8.8M in student fees (TWITTER.com, 1/18).

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