Newsstand: Board of Regents approves Michigan athletic department budget for 2024-25
Tweets Of The Day
University of Michigan athletic director Warde Manuel presented, and got approved by the Board of Regents, the projected athletic department budget for the 2024-25 academic year. The projection is that there will be a slight operating surplus of $0.2 million based on operating revenues of $215.1 million and operating expenses of $214.9 million.
Elements of the new budget are as follows:
• Spectator admissions revenues are projected to decrease by $8.7 million due to a decrease in home football games, from an eight-game schedule in 2022 to a seven-game home schedule in 2023, and combined with a commitment to maintain current admission ticket pricing.
• A projected increase in Big Ten Conference distributions will not fully offset that revenue decrease. Those are projected to increase by $5.2 million, primarily due to an increase in television revenues.
• In fiscal year 2023, inflation has contributed significantly to the growth in expenses. Increases of 15 percent or more have impacted large expense-line items such as team travel, recruiting and student-athlete meals. These increased costs are carried forward into the fiscal year 2024 budget.
• Included in operating expenses is a $1.0 million transfer to a deferred maintenance fund. The deferred maintenance fund is used to provide for major repair and rehabilitation projects for athletic facilities. The Athletic Department expects to continue setting aside additional funds for this purpose in future years.
Top 100 wide receiver Andrew Marsh switched his official visit from Oklahoma to Michigan this weekend. He also recently visited the Wolverines earlier this month.
Four-star wide receiver Taz Williams shows off his Michigan hotel room, stocked with gifts from the program as he arrived for his visit.
Quote Of The Day
“The trick for [head coach] Sherrone [Moore] is to keep the momentum of a national championship culture through all the roster turnover. I think you’ll see a lot of familiar former head man] Jim] Harbaugh practices and ideas this first season because they’ve got to rebuild before they can put a new signature on the program.”
— Anonymous coach to Athlon Sports on Michigan’s 2024 season
Headlines Of The Day
• EJ Holland, The Wolverine: Blue Chips: Michigan building steam for Top 100 WR Andrew Marsh ahead of OV
• EJ Holland, The Wolverine: Behind Enemy Lines: Insiders weigh in on recruiting battles for Michigan’s final group of official visitors
• Anthony Broome, The Wolverine: What exactly does a Wink Martindale defense look like? PFF analyst weighs in
• Clayton Sayfie, The Wolverine: 72 days until Michigan football: Tommy Doman is elite in this area
• Anthony Broome, The Wolverine: Anonymous Big Ten coaches weigh in on state of Michigan and its rivals
