UCF athletics reports significant revenue growth and rising expenses in its first year in the Big 12, reflecting both opportunities and challenges.
Orlando: UCF athletics is feeling the financial effects of joining the Big 12. This is their first year in a Power 4 conference, and it’s been a wild ride.
They reported a total operating revenue of $98.16 million for the 2024 fiscal year, which is a nice jump from $84.6 million the year before. Most of this boost comes from their move to the Big 12.
Ticket sales, donations, and conference distributions really helped push that revenue close to $100 million. For their first two seasons, UCF gets a half-share of $18 million from the Big 12, with a full share coming in 2025-26.
On the flip side, their operating expenses also rose to $97.454 million, up from $88.2 million last year. This increase is mainly due to higher costs for team travel, equipment, and game expenses.
UCF basketball is looking to bounce back against Arizona State, and they’ve got a lot of athletes to support. There are 41,433 undergraduates, with 490 of them participating in sports.
They spent $11.5 million on student aid for athletes, which includes $1.9 million for the Alston Awards. Recruiting costs also went up to $1.8 million, thanks to rising travel expenses and more recruiting activities after the pandemic.
They’re also working on the new Football Campus Project, which includes the Roth Tower expansion at FBC Mortgage Stadium. The athletic department got $90 million from Orange County for renovations, plus they’re using a $70 million bank loan and $30 million in bonds.
Those premium seating options are expected to bring in about $2.4 million in new revenue each year. The Hagle Gateway is part of the first phase of the Football Campus Project, which will feature some cool amenities for the football program.
They’ve been fundraising through the Mission XII initiative, and they also had to pay $2.5 million to the American Athletic Conference as part of their exit fee to join the Big 12.
However, the report doesn’t show the full financial picture since the NCAA doesn’t include funding for capital projects and gifts.
Feel free to reach out to Matt Murschel at mmurschel@orlandosentinel.com for more info!
