The University of South Carolina’s athletic department faced a slight financial loss in the 2024 fiscal year, despite generating significant revenue, particularly from football. Financial documents obtained by The Greenville News reveal that the department’s operating revenue totaled $183.4 million, while expenses reached $183.6 million, resulting in a $194,175 deficit. This continues a trend of financial fluctuations, following deficits of $3.7 million in 2022 and $11 million in 2021.
Football remains the athletic department’s cash cow. It generated $78.5 million in revenue, while expenses totaled $47.6 million. Key revenue streams for football included $19.8 million from ticket sales, $15.4 million from media rights, and $5.2 million from parking and concessions. Even with a 5-7 season in 2023, football revenue saw a $5 million increase from the previous year.
Basketball presented a mixed financial picture. The men’s team generated a profit of $3.48 million, with revenue of $13.3 million and expenses of $9.8 million. However, women’s basketball operated at a deficit of $5.7 million, bringing in $5.8 million in revenue but spending $11.5 million.
Overall contributions to USC athletics decreased slightly in 2024, falling from $34.6 million to $33.8 million. While football and men’s basketball saw increased donations, non-program-specific contributions dropped by nearly $4.4 million, and women’s basketball donations also declined.
In short, South Carolina athletics continues to rely heavily on football revenue to support its operations, while grappling with the challenge of balancing expenses across all sports programs.
