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Is Texas back?
The Longhorns were one play away from reaching their first national championship game in the College Football Playoff era. But while there’s still at least some work to be done between the white lines, Texas continues to make its mark off the field. The university’s athletic department reported an NCAA record $271 million in operating revenue during its 2023 fiscal year, according to USA Today. That’s nearly $32 million more than the school’s 2022 revenue and more than the previous high of $251.6 million reported by Ohio State in 2022.
That time period ended June 30, 2023, so it doesn’t include this past season’s Big 12 championship and playoff appearance. During the 2022-23 athletics seasons, Texas opened a new $375 million basketball arena, the Moody Center, and advanced to the Elite Eight in the men’s NCAA Tournament.
The school’s revenue should continue to grow when it reports figures from the ongoing 2024 fiscal year, thanks to the football team’s success. And this summer, Texas will move to the SEC, along with Oklahoma, where the schools will see an uptick of more than $20 million in media rights revenue.
Success in the SEC
The 2023 fiscal year was also a record-breaking one for the athletic departments at LSU and Tennessee, which both topped $200 million in revenue for the first time. LSU’s revenue was $200.46 million, while Tennessee’s came in at $202.09 million.
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