By james art 
The Ohio Athletic Department reported an operational deficit of nearly $ 38 million in the last fiscal year, according to the annual financial statement presented to the NCAA.
The athletic department spent a record $ 292.7 million from July 1, 2023 to June 30, 2024, while there is also a decline in total revenue.
He brought $ 254.9 million total operating revenue for the period, a decline of $ 24.6 million from the previous fiscal year, contributing to a budget shortage.
The school was expecting to be in red from last summer. In an interview with the dispatcher, Athletic Director Ross Bjork predicts an eight -digit deficit.
But the exact figures were not provided until Ohio’s State released its revenue and expenses report on Monday in response to requests for public records from multiple media.
“Although last year’s impact of the budget is not perfect and there were unique circumstances in the game, we have a stable plan for costs and revenue that applies and has made great progress in this ever -changing landscape of athletics in college,” Bjjk says in a statement issued as part of a news message. “We will make sure we work with a balanced budget that is moving forward.”
The announcement adds that the department is expecting reserve funds, along with past and future profits, to cover a $ 37.7 million deficit.
Lower ticket sales contributed to the decline in revenue, as only six football games at the Ohio Stadium in the fall 2023 played in the fall of Boukes, their least home matches since 2004.
Football ticket revenue was $ 47.9 million, dropping out of $ 16.5 million, when they had eight home games in 2022. They returned to slate for eight games last fall and also hosted December.
The department also decreased by $ 8.7 million for remuneration, licensing and sponsorships and contributions of $ 5.3 million, which include donations made to buy tickets.
A part of a leap of $ 17.7 million in costs as a result of compensation of over $ 9 million, including the purchase of former men’s basketball coach Chris Holtman, who was fired last February.
The school owes Holtmann over $ 8.6 million in compensation, according to an termination agreement signed in March.
The salaries and bonuses for the coaches have also increased, especially in football, as Ohio paid $ 28.5 million to Ryan Day coach and 10 major assistants in the last fiscal year. Their compensation was $ 21.8 million in the fiscal year 2023.
BucKeyes made a scattered rent last February by pulling out the Kelly chip from Ucla. As an offensive coordinator, Kelly was one of two assistants who made at least $ 2 million.
Jean Smith, who was the athletic director, before Björk took it, admitted that he had gone Berserk with the budget to help boost football to the top of the sport, approveding costs.
BucKeyes won a national championship last week with a win over Notre Dame in the CFP final.
Since USA Today Sports Began Tracking Ncaa Financial Reports in 2005, Ohio State’s Total Expenses Were The Second-Higheth by a Division I ATHLETIC DEPART, SURPASING THE HIGH Than $ 325 Million Texas Reported in Spending Later Monday.
The Ohio State is likely to exceed $ 300 million in costs in the coming years, as it begins to share revenue with athletes resulting from the settlement of three multi -million -dollar cases for antitrust cases against NCAA and major conferences.
If a federal judge gives final approval to the April Agreement, schools will be allowed to share about $ 22 million, with athletes from next fall.
Ohio’s state plans to pay the maximum number of athletes.
This story has been updated with new information.
USA Today Sports Project Reporter Steve Berkovitz has contributed to this story.
Joey Kaufman covers Ohio football for Columbus dispatcher. Follow it on X, the platform known as Twitter, @joeyrkaufman or send him an email to [email protected]S