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USF football coach Alex Golesh repeatedly has praised the Bulls’ administration for boosting investments in the program. The school’s annual financial report to the NCAA quantifies some of that boost.
USF’s football expenses were $22 million in the 2022-23 fiscal year (which ended June 30), according to the report, obtained this week through a public records request. That’s up from $3.3 million from the final full year of Golesh’s predecessor, Jeff Scott.
One of the major spending jumps came in football recruiting. It more than doubled, from $607,000 to $1.5 million and topping the entire athletic department’s recruiting budget from the year before.
Football support staff compensation rose almost 30% to $2.2 million, and assistant coaching salaries increased by $200,000 to $3.2 million.
The document also provides a better peek at how much it cost for the Bulls to fire Scott and his staff. USF reported just under $2.2 million in football severance payments for coaches and administrators. Scott’s full buyout is unknown because deals with the school’s fundraising arm, the USF Foundation, are not public. The Bulls also reported $478,000 in severance payments for men’s basketball; they fired coach Brian Gregory in March.
The school posted a $135,000 deficit — $70.6 million in operating revenue against $70.7 million in operating expenses.
Revenue rose almost 26% from the previous fiscal year. Big drivers in the additional $14.5 million were:
• $8.6 million more in direct support from the school
• $3.3 million more from outside contributions
• $2 million more distributed by the conference
Athletic debt rose from $28.8 million to $32.7 million. That’s notable as the Bulls pursue a $340 million on-campus football stadium that includes up to $200 million in debt.
USF’s athletic annual debt service…
Source link : https://sports.yahoo.com/where-usf-football-spending-more-170100955.html
Author : Tampa Bay Times, St. Petersburg, Fla.
Publish date : 2024-01-18 17:01:00
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