Penn State Athletics set records for revenue and spending during the 2023-24 fiscal year, with the Nittany Lions' football program leading the way.
Penn State Athletics has released its latest financial report, which details the dollars spent on everything from football to field hockey. The report covers a ton of interesting ground, while leaving a few questions, but overall paints a positive picture of Penn State sports' fiscal health.
Penn State also generated about $12.3 million from football parking and concessions. That's a $4.5 million increase over the previous season. A full season of beer sales at Beaver Stadium is responsible for some of that uptick.You knew that, but the annual financial report reinforces the essential nature of Penn State football to a self-funding athletic department. The football program generated about $113.
Penn State wrestling, which won a national championship during the 2023-24 fiscal year, operated at a net deficit of $2 million. Women's basketball had a deficit of $4.7 million. The sports outside of football and basketball operated at a deficit of $31.6 million.Penn State's reported contributions were about $3.7 million lower than the previous year. The total of $37million included $4.3 million in football contributions, about $3 million lower than the previous year.
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