The Penn State athletic department released its annual financial report to the NCAA yesterday, which saw a $7.9 million drop in revenue, down to about $108 million. However, some of the numbers are interesting.
Overall contributions to the athletic department dropped nearly $8.8 million — from $34.3 million to $25.6 million — however, contributions related to football more than quadrupled. In the spirit of #OneTeam, Penn State took in $9.7 million specific to football, up from $2.1 million in 2010-2011.
Ticket sales incurred a modest drop from $34.2 million to $33.4 million, which should come as a pleasant surprise considering the widespread unpopularity of football’s STEP ticket program.
The report comprises the fiscal year from June 2011 – June 2012, so these figures do not include the $12 million NCAA fine payment that was made earlier this year.
Penn State remains one of only 22 public universities with a self-sustaining athletic department.
Editors note: A previous version of this post included the wrong figure in the second paragraph. It has now been corrected.