Yea I figured it's covered by the university but we're not alone in that. And whether it comes from the university covering costs or donations, money is money regardless of its source. UCLA is also in the 200M plus range over the last some odd years. and they're talking about going in deeper. VT just approved a 50M/yr increase in the AD budget over the next 5 years. That's not all donations. Athletic fees, student fees etc.. will be used for revenue sharing with players. I've seen articles lately where a bunch of schools will be doing it.
If I get 10M from donations or 10M from the school, it's still 10M I have to utilize either way.
Capital projects debt isn't a solo thing either.
From an article in the Athletic earlier this year.
Four programs, however, extended a concerning five-year financial trend. UCLA, which joined the Big Ten this year, spent nearly $51.9 million more than it made. Over the past five fiscal years, the department’s losses now total $200.61 million. Rutgers and Maryland continue to struggle financially while they
reimburse the Big Ten for money borrowed between 2014 and 2020. Rutgers reported a $41.5 million loss, which leaves its department more than $139 million in the red over the past five years. The deficit has grown each year.
Capital projects instantly become the greatest expense for any athletic department whenever they begin, whether the cost is covered by gifts or through state-issued bonds. The Big Ten’s 16 public schools reported a wide range of annual debt service from those with new or recently completed projects (Ohio State, $33.7 million; Nebraska, $30.5 million) to those without, such as Maryland and UCLA, which each spent less than $700,000.
Twelve athletic departments have total debt exceeding $90 million, and six are north of $225 million, led by Illinois ($312.5 million) and Ohio State ($286.7 million). Michigan ($252.8 million), Penn State ($246.9 million), Washington ($244.4 million) and Iowa ($227.8 million) are next in line.
Many — but not all — of the Big Ten’s athletic departments are considered self-supporting, meaning they receive no direct university funds. UCLA claims no athletic debt, and Maryland lists $8 million, so their universities scrub away their financial shortfalls. UCLA received $30 million in direct institutional support and another $1.5 million in student fees. Maryland picked up nearly $12 million in student fees and $6.1 million in direct support. Rutgers, which charts its athletic debt at $51.4 million, received more than $21 million in student fees and direct institutional support.
Five departments — Michigan, Ohio State, Penn State, Nebraska and Purdue — obtained no financial support through fees or direct university support. Wisconsin, Iowa and Oregon collected small amounts for shared facilities, utility usage or other purposes. Indiana accepted a $26 million loan to cover football costs following coach Tom Allen’s dismissal. Illinois, Minnesota, Michigan State and Washington received fees or direct support totaling between $4 million and $11 million each.
https://www.nytimes.com/athletic/61...ten-athletic-department-financial-statements/