PSU news by
Penn State's student blog



Penn State Athletics Lost $5.9 Million During 2012-13 Year

Bill O’Brien’s quest to fill Beaver Stadium and rally the troops during the Coaches Caravan wasn’t entirely for show as Penn State athletics lost just shy of $6 million during 2012-13 per a financial report released Friday (the press release cleverly referred to it as “expenses exceeding revenues” instead of a loss, of course).

Penn State released a copy of its annual financial report to the NCAA that showed among many other figures that the athletic department was $5.9 million in the red. The exact figure of $5,985,736 noted on the final page of the 41-page release.

The report notes that total revenues of $104.75 million were used against an operating cost of $110.74 million. Athletic department reserves were used to make up the difference between the two numbers.

Penn State football was still unsurprisingly the department’s main source of revenue with a net profit of $34.1 million for the 2012 season. That figure is down from 2011 and 2010 when Penn State brought in $47.8 million $43.9 million respectively.

Penn State will continue to pay annual $12 million installments required to cover a $60 million fine imposed by the NCAA. The upgrade of  the Beaver Stadium scoreboards will cost an estimated $10 million. The university says the athletic program will miss out on a projected $21.6 million over the same five year span due to Big Ten conference sanctions that prohibit Penn State from collecting its share of money generated by football bowl games.

Big Ten and NCAA sanction are subject to change and have been modified once already.

In September, Penn State announced plans to take out a loan worth $30 million to help mitigate losses.

So as now head coach James Franklin continues his pitch to fill Beaver Stadium each week, it isn’t just for his team. It’s for the athletic department as a whole. Each percentage point of attendance against capacity at Beaver Stadium is valued at $350,000 on ticket sales alone.

Penn State men’s basketball is the second highest revenue generator bringing in a net revenue of just over $7 million in 2012.

You can read the full report below:

About the Author

Posts from our partner website


State College Links
More by

Herwig’s Austrian Bistro Sets Closing Date

Owner Bernd Brandstatter announced in March that restaurant would be closing between June and August, but the final day of business has been moved up.

Former Penn State Football Player Denies Burglary, Assault Accusations

Spats Cafe Collaboration With Allen Street Grill Set For Grand Opening


Spillane Has Been Effective For Men’s Lacrosse In Ament’s Absence

Nick Spillane has been a major contributor for men’s lacrosse this season, which is especially important given the loss of Grant Ament to injury.

Big Ten Announces 2018-2019 In-Conference Hoops Matchups

From Manager To Walk On: Penn State Softball’s Ashton Mensinger Enjoying Unexpected Opportunity

Penn State Women’s Lacrosse Loses To Maryland 13-8

Penn State Men’s Lacrosse’s Ryan Keenan Selected In MLL Draft

Student Life

Homecoming 2018 Logo Revealed

The Homecoming Executive Committee revealed the Homecoming 2018 logo at halftime of the Blue-White game.

Miniature Penn State Tailgate Bus Up For Sale, Tailgate Never Has To End

Creamery ‘Brew And White’ Iced Coffee Now Available

Saquon Barkley Shows Some Skin On SI Cover

The NFL Draft begins Thursday, April 26, at AT&T Stadium in Arlington, Texas. Barkley is expected to be a top-five pick, and he and his most vehement supporters say there’s no reason he won’t go No. 1 overall.

Blue Beats White 21-10 In Penn State’s Spring Scrimmage

Mac Hippenhammer’s two-touchdown performance highlighted a Blue team victory Saturday at Beaver Stadium.

Dry Weather Expected For Blue-White Weekend

Predicted temperatures in the mid-50s and mostly cloudy skies should make for a pleasant (but more importantly, dry) Blue-White Weekend.

Be the first to know

  • Top posts and the best Penn State stories

Thank you for subscribing.

Something went wrong.

Miniature Penn State Tailgate Bus Up For Sale, Tailgate Never Has To End

The bus was purchased at a church and designed to carry 22 children. Now it carries about 30 cases of beer.

Send this to a friend