Vols Athletics Report $12 Million in Revenue

KNOXVILLE, Tenn. – For the fiscal year ending June 30, 2016, the University of Tennessee’s Department of Intercollegiate Athletics (UT Athletics) has reported total operating revenues of $136.2 million over total operating expenditures of $124.0 million, generating a net operating surplus of $12.2 million.
UT Athletics achieved another record year in fundraising, collecting $30.7 million in annual unrestricted cash donations. The department also recognized notable revenue increases in the areas of football ticket sales, trademark licensing royalties (e.g. Nike merchandise sales), and Southeastern Conference distributions.
As of June 30, 2016, UT Athletics has total unrestricted reserves of $18.4 million, of which, $5.0 million is designated for ongoing facility projects including, but not limited to, new scoreboards for softball, baseball, and soccer and improvements to Dr. Robert L. Barksdale Tennis Stadium. Over the past two fiscal years, UT Athletics has transferred more than $11.4 million to fund various facility projects such as Pat Summitt Plaza and the Joan Cronan Volleyball Center.
“As I stated from day one, a successful athletics department must be financially stable and healthy. We have once again delivered on a balanced fiscal approach which has invested in our student-athletes, improved our facilities, and increased our reserves,” said Dave Hart, Vice Chancellor & Director of Athletics. “The incredible support from our fans and donors, along with the football program’s continued upward momentum, have been paramount in rebuilding our financial picture.”
Entering fiscal year 2016-17, UT Athletics produced a balanced budget of $129.5 million in operating revenues and expenditures.