Florida's athletic department isn't hurting for money (One caveat
here: These numbers came from the U.S. Department of Education and are
for the 2009-10 seasons. If schools receive Title IV funding, federal
statute requires them to report the financials for their athletic
department and this has what should be included in each category, such
as broadcast revenues, concessions and advertising. The U.S.
Department of Education also has the most complete school data because
it is the only entity that has both public and private institutional
information).
PAY FOR PLAY
Sport Revenue Expense
Football (111) $68,715,750 $24,457,557
Men's basketball (14) $10,184,136 $7,908,661
Other sports -- Men's (178) $1,375,526 $6,687,001
Other sports -- Women's (248) $2,802,512 $15,632,181
What a full scholarship entails: In-state: $15,290
Out of state: $41,012
Cost of attendance: In-state: $19,820
Out of state: $45,542
Total: $28,392,524
Student fees: $52.38
Amount athletics receives from student fees: $2,507,391
In fact, Florida is doing so well that according to the 2011-12
budget, the University Athletic Association is expected to return $6
million to the university for the second straight year. The UAA has
actually helped the university as it faced major financial cuts. Since
1990, more than $60 million has been given back from the UAA to the
university.
Obviously, the breadwinner of Florida’s athletic family is the
football program. It ranked second only behind Georgia ($52,529,885)
for football profit ($44,258,193) in the SEC. That profit covered all
of the school’s other sports and then some. According to the 2011-12
budget, revenue increased by a little more than $2.2 million from the
2010-11 budget, primarily because of a $2.3-million increase in
football game revenue due to an increase in season- and single-game
ticket prices.
The SEC revenue from bowl games, television contracts and
championships is projected to be $17 million in 2011-12, as well for
Florida.
So while Florida’s athletic department is cruising along -- despite
the tough financial times in the real world -- it’s hard to say if
Florida could get away with paying its student-athletes. There are
more than 500 athletes at Florida, and if the school was going to
start compensating athletes, it would have to cover every single one
-- both revenue and non-revenue sports athletes.
Florida’s revenues have increased, but so have expenses. The 2011-12
budget increased by $3.2 million from last year’s, including $1.5
million from men’s and women’s scholarships because of tuition and
fees administered by the university, as well as increases in room and
board costs.
However, it is important to note that athletes’ scholarship money
appears to be more than $4,000 less than the school’s cost of
attendance, these numbers are estimates from the university rather
than exact figures. Cost of living and everyday expenses are certainly
different for every athlete.
But for Florida to start adding to athletes’ wallets, the UAA would
have to ask for more from its boosters (the UAA projects that it will
receive $36 million from Gator Boosters this year) and get more from
its endowment, which currently funds athletic scholarships. The UAA
might also have to go into debt to cover the new expenses or cut
facility spending money.
There could also be a scenario where students outside of athletics
might have to help fund the UAA through increased student fees.
With some money movement, Florida could eventually support paying its
athletes, but Florida is just one of few exceptions. There would have
to be sacrifices, and if Florida would have this much work to do,
smaller schools with smaller budgets and much less revenue would have
little to no chance of even thinking of paying athletes.
