So I asked Google Gemini how in Debt is OSU Football?
The answer was quite interesting:
Ohio State's athletic department reported a nearly $38 million operating deficit for the 2024 fiscal year, primarily due to lower ticket sales from having fewer home football games and decreased revenue from royalties, licensing, and sponsorships
. While this is an operating deficit, the athletic department also has long-term debt for facilities, reporting about $33.7 million in debt service for fiscal year 2024 and a separate $48 million COVID-19 relief loan, though the overall university debt is over $3.4 billion.
Operating deficit and contributing factors
Long-term debt
The answer was quite interesting:
Ohio State's athletic department reported a nearly $38 million operating deficit for the 2024 fiscal year, primarily due to lower ticket sales from having fewer home football games and decreased revenue from royalties, licensing, and sponsorships
. While this is an operating deficit, the athletic department also has long-term debt for facilities, reporting about $33.7 million in debt service for fiscal year 2024 and a separate $48 million COVID-19 relief loan, though the overall university debt is over $3.4 billion.
Operating deficit and contributing factors
- Nearly $38 million deficit: For the 2024 fiscal year (July 1, 2023, to June 30, 2024), the athletic department had a deficit of approximately $37.7 million, spending more than it earned.
- Lower ticket sales: A major cause was having only six home football games, the fewest since 2004, leading to a drop in ticket revenue from $73.4 million in 2023 to $58.8 million in 2024.
- Reduced royalties and sponsorships: The department also reported a $8.7 million decrease in revenue from royalties, licensing, and sponsorships.
- High expenses: The department's total expenses were a record $292.7 million, with a significant portion going to salaries and benefits.
Long-term debt
- Athletic facilities debt: The athletic department's expenses included $45.3 million for athletic facilities debt service in fiscal year 2023 and $33.7 million in fiscal year 2024.
- COVID-19 loan: The athletic department took out a separate $48 million loan to cover losses from the pandemic, which is being repaid over 30 years.
- University-wide debt: It's important to distinguish between the athletic department's operating deficit and the university's overall debt. The Ohio State University reported a total outstanding par of approximately $3.47 billion as of June 30, 2025.
