Entertainment

UConn athletics deficit climbed to $53M in 2022

[ad_1]

STORRS, Conn. — The University of Connecticut‘s athletic department deficit rose to $53 million during the 2022 fiscal year, an increase the school attributed to $13.4 million it was forced to pay former head men’s basketball coach Kevin Ollie.

The deficit, reported in the school’s annual financial statement to the NCAA and released publicly on Tuesday, compares to a $47.2 million deficit reported for the 2021 fiscal year.

It was covered by $46.5 million in direct support from the school and another $6.5 million in student fees, according to the report.

Advertisements

The school said part of the deficit was related to money it was forced to pay after an arbitrator’s ruling that it improperly fired Ollie in 2018 and to settle other claims related to Ollie’s dismissal.

Discounting those payments, the actual operational institutional support to athletics decreased by $7.3 million to $33.2 million in fiscal 2022. The school also said it saw philanthropic donations rise to $23.6 million, which was the third-highest total in the athletic department’s history, up 12% from the previous year.

“At a time when budgets of ‘Power 5’ conference members have increased substantially and in some cases are nearing $200 million, UConn athletics continues to find ways to remain competitive nationally with far less,” the school said.

[ad_2]

Advertisements
Read Now  Anna Kendrick on new psychological thriller
(adsbygoogle = window.adsbygoogle || []).push({});

Leave a comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Related Articles

Entertainment

Davido Secures Security Ahead Of “Timeless” Concert

Record-breaking Nigerian Artist, Davido, whose real name is David Adeleke, paid a...

Entertainment

Davido Returns for Timeless Concert in Lagos Nigeria

Two years after his “A Decade Of Davido” concert in Lagos, Nigeria’s...

Selena Gomez Dating
Entertainment

Selena Gomez Dating

Selena Gomez Dating Selena Gomez has had several high-profile relationships over the...

Entertainment

what does the song Mary on a Cross mean

MEANING BEHIND GHOST’S MARY ON THE CROSS SONG Ever wondered what the...