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Winning has its benefits. Just ask the UConn Division of Athletics.
In a year when the men’s basketball team won a second-consecutive NCAA national championship, and the women’s team made yet another Final Four appearance, the school’s athletics department saw a significant boost in revenue.
According to its fiscal 2024 financial report released Wednesday, the UConn Division of Athletics recorded a $7.6 million increase in self-generated revenue.
“For the second-consecutive year, UConn Athletics was able to self-generate nearly 60% of its own revenues, up from 44% in FY22,” the school said.
It reported that in fiscal 2024, which ended June 30, 2024, 8,696 people donated to the athletics division, a 20% increase from the year-ago period, “while total financial commitments totaled $26 million.”
The school said it raised $98.3 million in gifts over the last four fiscal years (2021-2024), while the department generated $16.1 million in ticket sales in fiscal 2024, up from $12.9 million a year earlier.
Those ticket sales include a record $3.25 million in annual sales for the women’s basketball team, making UConn the first public women’s college basketball program to top $3 million in sales. The website Sportico.com reported that the total is more than 75 public college men’s teams generated last year, including teams at Alabama, Louisiana State, Oregon and Florida.
The news was not all good, however. The amount of institutional support received by UConn Athletics in fiscal 2024 was $31.7 million, an increase of $1.5 million, or about 5%, from the previous year.
That was a significant change from fiscal 2023, when institutional support had dropped by $16.3 million, or 35%, from $46.5 million in fiscal 2022.
A spokesperson for the Division of Athletics said via email late Thursday that the reason for the increase in institutional support in FY 24 "can be attributed to increased expenses in scholarships and personnel."
In competition, the Huskies in fiscal 2024 captured a sixth men's basketball national championship and 11 conference championships overall (including nine Big East regular season and conference championships and two Hockey East regular season and conference championships by the women’s hockey team).
UConn also was the recipient of the Big East President's Award, given annually to the school that has excelled at the highest levels in academics, athletics and citizenship during the previous academic year.
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