LSU’s athletic budget has hit an all-time high with the infusion of expected cash from the new College Football Playoff and SEC Network.
The school estimates it will bring in $109 million of revenue in fiscal year 2015, a $4 million boost from last year and a record for the department. At $108.9 million, LSU will spend nearly $8 million more than last year — at least half of that because of the new south end zone addition to Tiger Stadium.
LSU’s athletic budget for fiscal year 2015 (July 1, 2014, to June 30, 2015) is set to be approved by the LSU Board of Supervisors at its Friday meeting. LSU also is expected to approve a three-year contract extension for Athletic Director Joe Alleva, news The Advocate reported last weekend.
A copy of the athletic budget was obtained from the board’s September agenda. LSU supplied actual revenues and expenses for last year.
The athletic department posted revenue of $107,024,996 last year, a figure that likely would put the Tigers in the top quarter in the SEC. That includes more than $2.3 million in postseason play money; postseason money is not factored into the budget for this year.
The school is expecting to get $10 million from the Southeastern Conference in distribution money — $3 million more that last year. That money comes from the CFP and SEC Network.
Expenses will rise, too. The department spent $100,976,055 last year and expects to spend $108,932,782 this year. The increases are from a variety of places, said Mark Ewing, LSU’s senior associate athletic director.
LSU will spend more than $2 million more on salaries and benefits, with $600,000 of that going to the football staff. The department has budgeted an extra $2 million for travel and nearly $1 million on athletic scholarships.
The biggest new expenditure is $4 million the department will pay to the Tiger Athletic Foundation for leasing the south end zone expansion, Ewing said.
LSU made and spent more than it ever has in 2013-14. LSU brought in $117 million in 2012-13, but that figure is inflated through donations, Ewing said.
The $107 million mark in 2013-14 represents the largest figure without gifts. The school brought in $58.1 million in ticket sales, with all but about $6 million coming from football. It spent $23.7 million on salaries, $6.7 million on football and $20 million on “operating services” — mainly utility costs and maintenance.