Ohio State reports record athletics revenue in FY 2023

The Ohio State Department of Athletics continues to succeed on and off the field, reporting record revenue of $279,549,337 in fiscal year 2023.

Revenue for the year running from July 1, 2022, to June 30, 2023, increased 11% from the previous fiscal year’s record $251,615,345, according to an annual financial report filed each year with the NCAA.

“Ohio State athletics remain on a rock-solid foundation thanks to the tremendous support from our fans, students and alumni,” said Gene Smith, senior vice president and Wolfe Foundation endowed athletic director. “They continue to show up, tune in and support our student-athletes, coaches and staff at our fields, stadiums and arenas.”

Some of the revenue highlights include more than $73.3 million in ticket sales — $64.3 million from football alone. The 2022 football season included eight home games and marquee showdowns with both Notre Dame and Michigan.

The department reported $59,649,921 in ticket sales across all sports in FY 2022. Buckeye fans continue to support their teams as ticket sales remain the largest single source of revenue for the department.

Media rights – revenue from radio, television and digital – accounted for $49,796,025 in FY 2023, up from $48,908,898 million in FY 2022. Contributions from individuals, foundations and companies totaled $57.8 million.

The university reported $23,829,914 in athletic student aid. Total operating expenses for FY 2023 were $274,948,554. Athletic facilities debt accounted for $45.3 million of expenses, as the university made additional principal payments to new facilities including the Schumaker Complex, Covelli Center and other projects to reduce payments in the future.  

Ohio State is home to one of the largest athletic departments in the nation, supporting 16 men’s teams, 17 women’s teams, three mixed teams and approximately 1,000 student-athletes. The department is self-funded and receives no tuition or tax dollars.