Ohio State’s athletic department somehow managed to operate at a loss over the past year.
According to documents reviewed by Buckeyextra.com, the Buckeyes had a $10 million deficiency from July 1, 2018 through June 30, 2019. (RELATED: David Hookstead Is The True King In The North When It Comes To College Football)
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While that’s what the documents reportedly claim, OSU officials said the loss was actually less than $1 million. It’s the first time in 10 years the athletic department operated at a loss.
Why is there such a big difference in the numbers? Well, BuckyExtra wrote the following:
Officials attributed the sizable discrepancy to bookkeeping, largely a change in how the department recorded donations. In its internal report, presented in May to its athletic council, Ohio State listed $40.1 million in contributions, while its NCAA report noted only $29.7 million.
Whether it was a $10 million loss or less than $1 million, it’s not acceptable either way. Ohio State is one of the biggest athletic departments in the country.
There’s two sports that drive revenue in college athletics, and they’re football and men’s basketball. OSU has one of the best football teams in America.
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On top of that, their basketball team is also very good. Again, there’s no excuse for one penny to be in the red.
How this was allowed to happen is simply beyond me. Schools like OSU don’t lose money. They’re supposed to print money.
Be better, OSU. Find a way to be much better.
