Football Program Sees a Revenue Increase
Penn State Football may be off to its worst start in six years at 2-2, but revenue for the program has actually increased, according to a Bloomberg report.
This year, the school reports that 68,000 season tickets were bought by fans, the 60 luxury boxes in Beaver Stadium are completely sold out, and an estimated $17.5 million from donations related to ticket purchases will be met this season. This comes off a 2011 fiscal season when the football team generated $58.9 million in revenue and $43.8 million in profit.
Acting Athletic Director David Joyner told Bloomberg, “The NCAA put a cage around us, it’s just a fact. What I like to say is when somebody puts a cage around us, you have to become cage fighters. And that’s what we’re doing.”