The Texas Tribune compiled the financial information for all of the athletic departments, including Texas Tech’s (linked above). These figures are from the 2014-15 academic year. From a bottom line perspective, Texas Tech had revenues of $75,718,190 with expenses of $76,525,961 for a loss of $807,771. In the grand scheme of things, that’s not all that bad. As you might expect, there are two programs that make money for Texas Tech, football and men’s basketball. Football had a profit of $22,723,871 and men’s basketball had a profit of $2,088,521.
If you ever wanted to know why the athletic department doesn’t spend more money on assistant coaches in football or extend Tubby Smith or stuff like that, it’s because, I think, Kirby Hocutt is trying to run a fiscally sound athletic department. There’s just not as much money to go around OR maybe the pie needs to be divided a bit differently. At some point, the assistant coach salaries will have to change for football. The other interesting thing, and I don’t have the answer, but would love to hear yours, is whether or not the football program is maxed out in terms of revenue? Texas Tech is maxed out on season tickets and maybe other than media rights, is this the ceiling?
The full report from Texas Tech contains all of the details and is 64 pages long. Here are some highlights that I found.
- The male to female ratio at Texas Tech is 55% male to 45% female. I don’t remember the ratio being that in favor of men, but it’s been a while.
- Texas Tech received $1,023,395 in funds from the university itself.
- Texas Tech received $15,007,258 in media rights revenue.
- The athletic department doesn’t receive any money for any coach’s club membership or car stipend or speaking fees.
- Texas Tech pays $12,280,582 in debt service for internal loans.
- The football program makes $10,079,453 in ticket expenses and the total of the men’s total is $11,050,392. Also, The football program received $12,401,893 in contributions, while the men’s basketball team received, 2,067,522.
- The only two programs that receive any revenue from media rights is men’s basketball and football. The men’s basketball team receives $4,617,441 and the football team receives $10,389,817.
- The men and women’s basketball teams pretty much split the debt service payments for repairs to the United Supermarkets Arena at a little over $1.3 million. The football team carries debt service of $5.2 million. Track and field, the men and women, have debt service of $1.6 million.
- Texas Tech increased operating expenses by about $30 million from 2014-15 to what’s being reported here. Not totally sure what it was (because I’m not taking a totally detailed look at things) but it appears to be in part a $4 million increase in debt service and $13 million in debt on facilities.