UCLA’s athletic department posts $21.7-million deficit for 2020 fiscal year
3 years, 10 months ago

UCLA’s athletic department posts $21.7-million deficit for 2020 fiscal year

LA Times  

UCLA’s athletic department, having doubled down on debt in the wake of a record shortfall, is facing a far bigger money crunch. The Bruins’ $21.7-million deficit for the 2020 fiscal year, which brought their two-year deficit to $40.6 million, might seem like pocket change compared with how much deeper they are poised to plunge into the red. New UCLA athletic director Martin Jarmond declined to comment on the 2020 budget shortfall because he started July 1, the beginning of the 2021 fiscal year. Other factors that contributed to UCLA’s deficit were $2 million in annual maintenance costs associated with the Wasserman Football Center and Mo Ostin Basketball Center; roughly $1 million for chartered flights for the men’s and women’s basketball teams; and increased financial resources funneled toward Olympic sports teams. UCLA’s football players were fed slightly less lavishly during coach Chip Kelly’s second season, consuming $3.5 million in meals during the 2020 fiscal year after their meals totaled $5.4 million the previous fiscal year.

Basketball Bruins Department 2020 Deficit Fiscal Athletic Million Ucla 2020 Fiscal Year  budget  fiscal  bruins  basketball  2020  uclas  deficit  athletic  million  ucla  department  football  posts  217million

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UCLA could distribute at least $20 million a year to its more than 600 athletes
6 months, 3 weeks ago

UCLA could distribute at least $20 million a year to its more than 600 athletes

LA Times  

The historic House vs. NCAA settlement that established $2.8 billion in back pay for lost name, image and likeness deals and established a framework for revenue sharing between athletic departments and college athletes also prompted more questions than answers. Furthermore, UCLA said the revenue cap of 22% could amount to distributions totaling $20 million to $22 million per year among …

On eve of move to Big Ten, UCLA athletic department posts $36.6-million deficit
11 months ago

On eve of move to Big Ten, UCLA athletic department posts $36.6-million deficit

LA Times  

UCLA’s Jaylen Clark takes a shot against Arizona during a game at Pauley Pavilion last season. UCLA’s approaching revenue stream can’t arrive fast enough after the school’s athletic department posted a deficit of $36.6 million for the 2023 fiscal year, the fifth consecutive year that the Bruins have run a shortfall stretching into eight figures. Once UCLA moves to the …

University of Arizona announces financial recovery plan to address its $240M budget shortfall
1 year ago

University of Arizona announces financial recovery plan to address its $240M budget shortfall

Associated Press  

TUCSON, Ariz. — The University of Arizona has become the latest school dealing with a sizeable budget problem. West Virginia University reportedly was making cuts amid a $45 million budget deficit while Bradley University, a private school in Illinois, was addressing a $13 million budget shortfall representing 10% of its total operating budget. To address its own $240 million budget …

UCLA makes progress while posting a $28-million athletic department deficit
1 year, 10 months ago

UCLA makes progress while posting a $28-million athletic department deficit

LA Times  

UCLA athletic director Martin Jarmond. UCLA’s athletic department posted a deficit of $28.045 million during the 2022 fiscal year, down from the record $62.5 million in 2021. Profits from ticket sales and media rights fees related to schedules returning much closer to normal helped the Bruins more than halve the athletic department deficit from the previous fiscal year. UCLA’s debt …

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