UA athletics breaks even in fiscal 2023

One year after posting a $6.27 million profit, the University of Arkansas athletics department broke even for the fiscal year 2023 (July 1, 2022–June 30, 2023).

The figures are in the university’s annual Equity in Athletics Disclosure Act (EADA) survey. Arkansas, and every other intercollegiate athletics department in the country, self-reports financial information detailing operating revenues and expenses to the U.S. Department of Education annually to comply with the EADA Act of 1994. The EADA requires disclosing information about varsity teams and the financial resources and personnel the school dedicates to those teams.

To read the university’s EADA report, click here for a PDF.

Arkansas’ athletics department funds 470 athletes competing on 19 teams — eight for men and 11 for women. It takes no student fees or taxpayer support.

According to the survey, the athletics department’s revenue totaled $171.1 million, up 10.7% from $154.55 million in the previous fiscal year. Expenses were also $171.1 million, up 15.3% from $148.28 million last fiscal year.

Sport-specific financials include:

• The UA football program had total operating revenue of $84.95 million, with expenses of $53.94 million ($31.01 million profit).
• Men’s basketball revenue totaled $19.43 million, and $13.8 million in expenses ($5.63 million profit).
• The UA baseball team is the only other program with revenue hitting seven figures at $5.63 million. With expenses of $8.53 million, the program operated at a deficit of $2.9 million.

Arkansas’ athletics department topped $100 million for the first time in the 2014-2015 fiscal year ($114.17 million). It climbed steadily until the 2019-2020 fiscal year when the COVID-19 pandemic caused a double-digit revenue decline from $137.49 million to $123.35 million.

The NCAA requires member schools to submit a more detailed revenue and expense report for each fiscal year. That report is being audited and is due to the NCAA by January 2024.