The University of Texas has solidified its standing as a financial powerhouse in college sports, becoming the first Division I public school to report more than $300 million in both operating revenues and expenses in the same fiscal year, according to a newly released financial report to the NCAA.
For the 2024 fiscal year, Texas recorded $331.9 million in operating revenues and $325 million in operating expenses, cementing its status as a national leader in athletic spending. These figures, obtained by the USA TODAY Network through an open-records request, surpass previous records, including Ohio State’s $292.3 million in spending reported earlier this year.
The Longhorns’ unprecedented revenue was boosted by a $133.9 million increase in contributions, which included a significant one-time donation to fund construction of the Moody Center, the on-campus arena that opened in 2022. Contributions also surged due to the football team’s success during the 2023 season, highlighted by a 12-2 record, a Big 12 championship, and a College Football Playoff semifinal appearance.
Even after accounting for $43 million allocated to the Moody Center, Texas’ adjusted operating revenue and expenses still ranked among the highest ever recorded by a public university, totaling $288.9 million and $282 million, respectively.
We cannot thank the Moody Foundation enough for their unbelievable gift of $130M to UT.
We are proud to announce that our state-of-the-art arena will be named #MoodyCenter.
🤘 https://t.co/Le48KziMjg pic.twitter.com/sQec6E03sK
— Texas Longhorns (@TexasLonghorns) November 9, 2019
The Longhorns also reported significant increases in royalties, licensing, advertising, and sponsorship revenue, which rose by $14.1 million to $68.8 million, due to changes in reporting methodology. Previously, these figures were reported net of related expenses; they are now presented on a gross basis per NCAA guidance.
Expenses for Texas Studios, which replaced the Longhorn Network as part of the university’s transition to the Southeastern Conference (SEC), also contributed to the financial shift. Additional expenses included pay raises and contract amendments for football head coach Steve Sarkisian, whose compensation rose from $5.6 million in 2023 to $10.6 million in 2024, as well as severance costs tied to coaching changes in baseball and men’s swimming.
The report highlights the Longhorns’ strategic focus on maintaining their position as a leader in collegiate athletics. Despite moving to the SEC, Texas sponsored 21 teams in 2024, compared to Ohio State’s 35 teams, showcasing its efficiency in generating and allocating resources.
With an endowment spanning $45 billion across its system, Texas continues to set the standard for financial success in college sports and academics, leveraging its resources to enhance its programs and prepare for its future in the SEC. The University of Texas System is second to none in terms of public endowment, only trailing Harvard University in terms of nation-wide endowment. The system does support 14 universities across it’s system, with the University of Texas at Austin as it’s flagship program for both the state and system.
