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Oklahoma State projecting financial return to normalcy for FY '22

Only 25% of seats at Boone Pickens Stadium were filled for football games because of pandemic limitations in place during '20GETTY IMAGES

As Oklahoma State athletic officials made "significant budget cuts to brace for the financial battle caused by the COVID-19 pandemic," the athletic department concluded FY '21 with a $14.1M deficit, according to Scott Wright of the OKLAHOMAN. For FY '21, which ended last June, OSU reported revenue of approximately $64.5M, down from $93.6M in FY '20. OSU reported athletic operating expenses of roughly $78.7M for FY '21. That follows $92.5M in athletic operating for '20 and $95M for '19. Only 25% of seats at Boone Pickens Stadium were "filled for football games because of pandemic limitations in place" during '20, which triggered a "revenue dip in a variety of areas." In ticket sales alone, OSU saw a drop from $13.5M in revenue in '20 to $4.1M in '21. Contributions to the athletic department were down nearly $6M in '21. However, OSU's outlook for a "return to a full and balanced budget" in '22 is "promising." OSU Senior Associate AD Kevin Klintworth said, "Our projections are that we will end this fiscal year with a balanced budget operating with our typical level of annual expenses" (OKLAHOMAN, 1/25).

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