ASU reports athletics revenue of $32.8M in FY2023

Arkansas State University’s athletics department reported operating revenue in the 2023 fiscal year of $32.84 million.

The department’s expenses were the same amount.

The figures are from the university’s annual financial report to the NCAA. Jonesboro accounting firm Widner-Penter Co. conducts the annual audit. The 2023 fiscal year began July 1, 2022, and ended June 30, 2023.

The athletic department’s revenue and expenses are similar to the totals from fiscal year 2022. A year ago, the Red Wolves reported $32.37 million in revenue and the same amount in expenses.

The department’s revenue in FY2023 includes $13.42 million in direct institutional support (primarily used for athlete tuition waivers) and $7.21 million in student fees. ASU charges students an athletic fee of $22 per credit hour.

The NCAA report also showed ASU athletics received $3.61 million in contributions. That total is down nearly 41% from the previous fiscal year ($6.10 million).

Football and men’s basketball each hit seven-figure revenue in FY2023. The football program had total operating revenue of $9.92 million, with expenses of $13.27 million ($3.35 million loss). The football program revenue was down 12% from $11.28 million in FY2022.

Men’s basketball revenue totaled $1.01 million in FY2023, with $2.65 million in expenses ($1.64 million loss).

Arkansas State University’s athletics department funds 16 teams — seven for men and nine for women.

For a PDF of the athletics department report from FY2023, click here.