WKU subsidized $28.1 million into athletics in fiscal year 2023-24, an increase of $2.8 million from the previous year’s mark of $25.3 million, according to an accountant’s report required by the NCAA.
The subsidy made up 62% of athletics’ $45.1 million operating revenue generated by the program and its 16 sports teams, according to the report presented to the Board of Regents on Friday.
The university’s subsidies to Hilltopper Athletics have steadily increased over the last four years according to the Knight Newhouse Database, which compiles budget information on every NCAA program. WKU’s subsidies into athletics have increased from $18.1 million in FY21 to $28.1 million in FY24.
The $28.1 million includes $17.1 million in “direct institutional support,” $4.8 million from a $218 semesterly student fee and $9.6 million from “indirect institutional support,” including athletics facilities debt and lease and rental fees.
Athletic Director Todd Stewart told the Herald the $17.1 million is “probably the combination of salaries and scholarships.” WKU Athletics’ budget is $30 million – not counting indirect subsidies such as repayment of debt on athletic facilities – but Stewart said athletics only generates “12 to 13 of that.”
“So that would make sense that $17 (million) would be the remainder of that,” Stewart said.
Stewart said he did not have details about any subsidies outside of the $17 million in direct institutional support.
Last year, Stewart told the Herald that athletics was “aggressively employing personnel and strategies to increase our revenue.”
Stewart said Hilltopper Athletics had “the best fundraising year they’ve ever had,” earning $5.3 million in contributions according to the report as well as $2.3 million in guarantees in FY24.
Stewart said WKU Athletics has looked at how it does “operational things” such as travel to help increase revenue.
“We’re not really cutting consistently… I think there’s a common sense component like ‘well we don’t have to do this’ or ‘we don’t have to take this many people,’” Stewart said. “Sometimes little things can add up too.”
The report also noted:
- A 21.67% increase in “Coaching Salaries, Benefits and Bonuses paid by the university” totaling $7.4 million.
- A 62.50% increase in contributions to athletics totaling $5.3 million, or 11% of the total operating revenue.
- WKU Athletics generated $2.02 million in ticket sales, making up only 4% of the total operating revenue
Sports Editor Jake McMahon can be reached at Michael.mcmahon480@topper.wku.edu
