Business Insider Ranks Penn State Athletics The Nation’s Tenth Most Profitable Program
Not all college rankings are created equal. Although Penn State was ranked well in some fun listings, some cold, hard numbers reveal that Penn State makes a pretty penny from its athletic department. A recent Business Insider list shows that Penn State is the No. 10 university in the country to make the most revenue from college sports.
Business Insider used data collected from USA Today and the U.S. Department of Education to determine which universities make at least $100 million every year from their athletic programs. According to the data, there are now a total of 24 universities that make or exceed that amount with their earnings.
Penn State clocks in at the middle of the list, raking in $125.7 million from its athletic programs. Business Insider included the average revenue for football, men’s basketball, and women’s basketball, as well as the amount of money earned from donations and licensing and rights fees. Business Insider wrote that they included football and men’s and women’s basketball because they are, “the three sports that typically generate the most money.”
It’s no surprise that football brings in the most money for Penn State, earning $66 million over a three-year period — including a 6.9 percent one-year change. That’s only around $10 million less than donations and licensing fees combined, which bring in $27.7 million and $48.6 million respectively. Men’s basketball earned an average of $10.7 million while women’s basketball earned an average of $900,000, both over three years.
Altogether, Penn State athletics earns more money than programs from Iowa, Minnesota, and Michigan State.
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“Tim’s Law,” the Timothy J. Piazza Anti-Hazing Law, was approved by the Pennsylvania Senate Monday. The legislation is named after Tim Piazza, who died following a hazing ritual at the on-campus Beta Theta Pi fraternity house in February 2017. Now that it’s been passed by both Pennsylvania’s Senate and House of Representatives, the bill will move […]
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