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From Joel Maturi to Gopher Fans:
I recently had the honor of meeting with a number of great Gophers during a trip to Florida. I had good conversations with letterwinners, alumni and donors on many topics, including the financing of big time college athletics. Based on the interest of many, I want to use this month's email to bring you up to speed on the topic of the Gopher Athletics budget - where we have been, where we are today, and a look into our financial future.
The budget for Gophers Athletics has received its fair share of media coverage in recent months with varying degrees of accuracy. The bottom line is that Gopher Athletics has operated with a balanced budget since my arrival in 2002.
We have faced a number of financial challenges during this time. Shortly before my arrival, it was documented that Gopher Athletics faced a $31 million accumulated deficit that led to the recommendation for the elimination of three sports. Thanks to the diligent efforts of many, we were able to raise the necessary $3 million to avoid the elimination of the sports and the $31M deficit never materialized.
Over the past eight years, revenue generation has emerged as one of Gopher Athletics' real success stories. By increasing revenues, we have been able to continue to fund all sports and provide the financial support that allows them to be competitive at both the conference and national level. Without question, providing the appropriate funds for our 25 sports, all facilities and support units is the biggest challenge we face each year.
In 2002-03, the budget for Gopher Athletics was $47.5 million. Today, thanks to new revenues from TCF Bank Stadium, contracts with Learfield Sports Properties and Nike, increases in television, bowl and NCAA basketball revenue and donations to our Golden Gopher Fund, we were able to fund a $76.7 million budget for 2010-11. This represents an overall growth of revenues of 61 percent.
These increased revenues have allowed us to support a broad-based 25 sport athletic program and also increase support for the revenue-generating sports of football, men's basketball and men's hockey. We have invested back into these sports with significant budget increases.
2002-03 2009-10 2009-10 Rank
Football $7.4M $17.5M 7th in Big Ten, 29th in nation
Men's Basketball $2.3M $5.7M 4th in Big Ten
Men's Hockey $1.4M $2.3M Top three in country
A fact that may not be well known, however, is that we've been able to increase the financial support for all programs while at the same time facing considerable reductions in University funding. The University's financial support for athletics has dropped significantly over the past eight years.
Dollars from University % of overall Athletics budget
2002-03 $6.8M 14%
2010-11 $2.3M 3%
Athletics reliance on dollars from the University has been reduced 60% over the past eight years and the reduction in support will likely continue given the tough economic times for the state of Minnesota. University support is projected to drop to $1.9 million next year. We will continue to manage these reductions, drive incremental revenue and make sure that we have a viable, long-range financial plan that will allow Gopher Athletics to be successful over the next 5-7 years.
The fiscal pressures on collegiate athletics departments will continue to grow. Gopher Athletics continues to build upon our progress in revenue generation and expense management in support of the entire 25-sport athletic program. Safeguarding the financial health of Gopher Athletics is the key element in helping our student-athletes achieve their athletic and academic goals.
I appreciate you taking the time to allow me to share this financial information on Gopher Athletics. Your continued support and generosity make a huge difference for our sports teams and our student-athletes. We could not do it without you.
Go Gophers!
Joel Maturi
Director of Athletics
I recently had the honor of meeting with a number of great Gophers during a trip to Florida. I had good conversations with letterwinners, alumni and donors on many topics, including the financing of big time college athletics. Based on the interest of many, I want to use this month's email to bring you up to speed on the topic of the Gopher Athletics budget - where we have been, where we are today, and a look into our financial future.
The budget for Gophers Athletics has received its fair share of media coverage in recent months with varying degrees of accuracy. The bottom line is that Gopher Athletics has operated with a balanced budget since my arrival in 2002.
We have faced a number of financial challenges during this time. Shortly before my arrival, it was documented that Gopher Athletics faced a $31 million accumulated deficit that led to the recommendation for the elimination of three sports. Thanks to the diligent efforts of many, we were able to raise the necessary $3 million to avoid the elimination of the sports and the $31M deficit never materialized.
Over the past eight years, revenue generation has emerged as one of Gopher Athletics' real success stories. By increasing revenues, we have been able to continue to fund all sports and provide the financial support that allows them to be competitive at both the conference and national level. Without question, providing the appropriate funds for our 25 sports, all facilities and support units is the biggest challenge we face each year.
In 2002-03, the budget for Gopher Athletics was $47.5 million. Today, thanks to new revenues from TCF Bank Stadium, contracts with Learfield Sports Properties and Nike, increases in television, bowl and NCAA basketball revenue and donations to our Golden Gopher Fund, we were able to fund a $76.7 million budget for 2010-11. This represents an overall growth of revenues of 61 percent.
These increased revenues have allowed us to support a broad-based 25 sport athletic program and also increase support for the revenue-generating sports of football, men's basketball and men's hockey. We have invested back into these sports with significant budget increases.
2002-03 2009-10 2009-10 Rank
Football $7.4M $17.5M 7th in Big Ten, 29th in nation
Men's Basketball $2.3M $5.7M 4th in Big Ten
Men's Hockey $1.4M $2.3M Top three in country
A fact that may not be well known, however, is that we've been able to increase the financial support for all programs while at the same time facing considerable reductions in University funding. The University's financial support for athletics has dropped significantly over the past eight years.
Dollars from University % of overall Athletics budget
2002-03 $6.8M 14%
2010-11 $2.3M 3%
Athletics reliance on dollars from the University has been reduced 60% over the past eight years and the reduction in support will likely continue given the tough economic times for the state of Minnesota. University support is projected to drop to $1.9 million next year. We will continue to manage these reductions, drive incremental revenue and make sure that we have a viable, long-range financial plan that will allow Gopher Athletics to be successful over the next 5-7 years.
The fiscal pressures on collegiate athletics departments will continue to grow. Gopher Athletics continues to build upon our progress in revenue generation and expense management in support of the entire 25-sport athletic program. Safeguarding the financial health of Gopher Athletics is the key element in helping our student-athletes achieve their athletic and academic goals.
I appreciate you taking the time to allow me to share this financial information on Gopher Athletics. Your continued support and generosity make a huge difference for our sports teams and our student-athletes. We could not do it without you.
Go Gophers!
Joel Maturi
Director of Athletics
