UCF athletics skilled monetary impacts from becoming a member of the Huge 12, its first enterprise right into a Energy 4 convention, resulting in elevated income and bills.
The reviews are a part of the NCAA’s Agreed Upon Procedures information, the place universities present sure monetary info. It doesn’t function an athletic division’s monetary assertion.
The division reported $98.16 million in whole working income through the 2024 fiscal yr (July 1, 2023-June 30, 2024), up from $84.6 million it reported in 2022-23. The rise largely got here from the varsity’s transfer to the Huge 12.
Ticket gross sales, donations and convention distribution helped push income to almost $100 million.
The Knights obtain a half-share ($18 million) of annual income from the Huge 12 of their first two seasons earlier than receiving a full share in 2025-26.
UCF reported an working expense of $97.454 million, a rise from $88.2 million reported final yr. As soon as once more, the rise got here from the transfer to the Huge 12, with the varsity going through rising prices of staff journey, gear and recreation bills.
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The overall undergraduates have been 41,433, with 490 whole males (229) and ladies (261) collaborating on athletic groups.
Some bills included pupil support for athletes, for which the division spent $11.5 million, together with $1.9 million for the Alston Awards.
The Knights additionally spent $1.8 million in recruiting through the fiscal yr, a rise from the $1.57 million the earlier yr. Rising journey prices and elevated recruiting actions post-pandemic have been the rationale for the rise.
There have been debt service funds and design and development paperwork associated to the brand new Soccer Campus Venture, together with the Roth Tower growth at FBC Mortgage Stadium and the Sharon and Marc Hagle Gateway.
The athletic division acquired $90 million from the Orange County ommissioners in vacationer growth tax cash, which is used to renovate the soccer tower and create expanded premium seating. UCF plans to make use of a $70 million financial institution mortgage and $30 million in bonds for short-term financing.
The premium seating choices are anticipated to assist the varsity generate roughly $2.4 million in new income yearly.
The Hagle Gateway is a part of Section I of the Soccer Campus Venture, which additionally options McNamara Cove, a restoration river, a hydrotherapy pool and the Taylor A. Gerring Soccer Heart, a two-story constructing devoted to soccer operations.
Fundraising has been by means of the Mission XII initiative.
Additionally included within the report was a $2.5 million cost to the American Athletic Convention, a part of the $18 million exit charge UCF paid to depart the league to affix the Huge 12 in 2023.
The report, nonetheless, doesn’t paint the whole monetary image as a result of the NCAA doesn’t keep in mind funding capital initiatives, working funds and capital presents.
Matt Murschel will be reached at mmurschel@orlandosentinel.com
