PSU news by
Penn State's student blog

Topics

More

Athletics Department Considers Raising Football Ticket Prices in 2015

To combat a net loss of $1.3 million over the last year, Penn State’s Intercollegiate Athletics department outlined a five-point plan today to weather the budget issues it’s currently facing, including raising the price of football tickets in 2015.

During their report to the Board of Trustees’ Committee on Finance, Business, and Capital Planning this morning at the Penn Stater, new Athletic Director Sandy Barbour and Associate Athletic Director of Finance Rick Kaluza outlined the issues and possible solutions. The athletic department is in the midst of a series of three $10 million loans, and ended the last year with only $5.2 million in its cash reserve. According to Kaluza, the department’s budget projections are hamstrung by the lack of money from the Big Ten’s bowl games and currently flat revenue streams.

According to the press release, there are five possible solutions:

  • Improve football attendance beyond the 88 percent capacity at which it currently sits;
  • Potentially increase football ticket and parking prices;
  • Concession enhancements;
  • University reduction of interest payments related to the $60 million fine;
  • Exercise caution in major maintenance and capital expenditures over the five years.

According to Barbour, the next five years will be crucial for the budget of Intercollegiate Athletics. Barbour is no stranger to handling athletic departments in tough financial straits. In June 2013, Cal’s athletic department was a whopping $445 million in debt due in part to a failing licensing campaign for its stadium renovations.

Your ad blocker is on.

Please choose an option below.

Sign up for our e-mail newsletter:
OR
Support quality journalism:
Purchase a Subscription!

About the Author

Tim Gilbert

Former Managing Editor of this site, now just makes lots of #content for it from the Phyrst’s Table 69. Senior from Philadelphia. First-generation Penn Stater. I might go to law school after this, but I might not, too. “For the Glory” is in my email signature because I’m a douche. [email protected] is my email if you want to tell me why I suck. Alternatively, you can call me out on Twitter @OlGilb.

Comments

State College Links
Other posts by Tim

Penn State’s New Academic Mark Is Just Awful

My brain is not able to understand how a team of people supposedly proficient in this industry gathered, looked at this new mark, and said, “Yes, this will do!”

Penn State Hoops To Host DePaul In Inaugural Gavitt Tipoff

James Franklin To Throw First Pitch At Yankee Stadium On April 28

Penn State Ad Featured In Viral Reddit Post

One Reddit user was recently unnerved by a strange appearance from a Penn State advertisement on their screen.

Penn State Ad Featured In Viral Reddit Post

One Reddit user was recently unnerved by a strange appearance from a Penn State advertisement on their screen.

Gameday Observations: Michigan State

From unintentional uniform camouflage to a sad farewell for the Land-Grant Trophy, Saturday’s game had a lot to take in.

Penn State Women’s Volleyball Qualifies For 2021 NCAA Tournament

Following its selection, Penn State remains the only team to appear in every NCAA Tournament.