Nebraska’s financial report to the NCAA for fiscal year 2021 provides insight into the extent to which the COVID-19 pandemic has disrupted business operations, as well as how the athletic department has been able to get through more than one year. year without fans. stalls.
The department reported revenue of $92 million for fiscal year 2021, which ran from July 1, 2020 to June 30, 2021, about $41.5 million lower than 2020 and more than $44.1 million. million less than its peak in 2019, according to a copy of the report obtained via a request for records by the Journal Star.
The main factor in this decrease, of course, was the almost total lack of fan presence during this 12 month period.
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In most years, football alone generates over $30 million in ticket revenue and an additional $5 million in concessions, merchandising, and other game day revenue. Overall, in fiscal 2020, the department recorded $38.1 million in ticket revenue and $5.9 million in concessions and merchandising.
In fiscal year 2021, with the Big Ten limiting attendance to family only, the entire athletic department generated $706,138 in ticket revenue. About $384,000 of that came from the spring baseball season, $302,000 from football, and the rest from softball and soccer.
NU was also able to cut expenses from $124.1 million in fiscal year 2019, the last year completely uninterrupted by the pandemic, to $104.1 million in 2021.
The 12-month period ending June 30 means the 2021 financial year was under former sporting director Bill Moos. His predecessor, Trev Alberts, praised the work Moos and company have done to lead NU through the most disruptive part of the pandemic.
“I’m grateful that we did very well,” Alberts told the Journal Star on Tuesday, before the report was obtained by the Journal Star. “The reality is that there are a lot of universities that have had to take out loans; we do not have.
“You can only imagine what saved us playing Big Ten football,” Alberts said of the shortened, fanless 2020 season. “We didn’t have box office revenue, but at least we got 80% of the money from TV, which was essential for all of us. We got through it, and I give credit to the old leaders.
Indeed, NU grossed nearly $36 million in media rights, with the dominant share going to football. That number is lower than the $43.9 million reported for fiscal year 2020, but still represents 39% of the department’s revenue for the year. The department also reported $18.8 million in revenue from royalties, licensing, advertising and sponsorships, a significant figure but well below the $27.6 million reported a year ago.
Part of the way the department covered the drop in revenue was by relying more on contributions and dipping into its large reserve. For fiscal year 2021, the department reported $22.7 million in private contributions, about triple what it reported the previous year. This number does not necessarily represent the total of all private donations, but rather the amount of private contributions the department used in its operations during the fiscal year.
In total, NU used $29 million to cover the revenue gap, according to a separate financial report filed late last year.
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“Due to the effects of the pandemic on athletics operations in fiscal year 2021, actual expenses exceeded revenues by $29 million,” NU said in its Equity in Athletics Disclosure Act and also in the NCAA financial report. “Athletics used $16.5 million in previously accrued unrestricted athletic contributions and $12.5 million in prior year reserves to fund this deficit.”
One thing that didn’t just disappear because of a global pandemic: severance pay. NU reported $4.2 million for fiscal year 2021. The department classified $3.18 million as “non-sports specific,” which is money owed to Moos, the former athletic director. Moos’ last day was June 25, six days before the end of the fiscal year. NU also reported $971,922 in severance pay for men’s basketball, which the department confirmed was for former men’s basketball coach Tim Miles and his staff.
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Driven by media rights money, Nebraska football has consistently generated $53.2 million in revenue, though that’s a far cry from the previous year’s record of $97.5 million. Scott Frost’s program cut expenses by nearly $9 million to $24.6 million to generate a profit of $28.6 for the year.
Fiscal 2022 may not look quite normal, but it will take into account the return of fans to Memorial Stadium this fall and all other venues as well, when the numbers are released next year.
“This year’s budget, because we didn’t know what was going to happen – and we could still have some disruption in basketball – we budgeted on the revenue side 75% of capacity on our revenue generation” , Alberts told the Journal Star.
In terms of expenses, Alberts said NU had budgeted for 2019 minus 10%, with some flexibility depending on program schedules, travel requirements, etc. In income.
Follow the transfer portal. Here’s who the Huskers are coming to Lincoln
Casey Thompson, QB
Update
The last school:Texas
Remaining eligibility: Two years
To note: Thompson is the most notable transfer Nebraska has added so far due to the position he occupies. He started 10 games for the Longhorns last year and led the Big 12 in passing touchdowns with 24. He will be considered the favorite to win NU’s starting quarterback position under new offensive coordinator Mark Whipple. He will be on campus this semester.
Deondre Jackson, RB
Update
The last school: Texas A&M
Remaining eligibility: Four years
To note: Jackson was heavily recruited by Nebraska out of high school, but chose the Aggies. He only got three runs in his two years there, but NU still live up to their potential. He attended Stone Mountain High in Georgia, so the staff — including tight ends coach Sean Beckton — know him well. He will be part of an open positional battle this spring.
Trey Palmer, WR/Returner
Update
The last school: USL
Remaining eligibility: Two years plus a red shirt
To note: Palmer was a top rookie out of high school and saw his role grow steadily during his three years at Baton Rouge. Now he will join Mickey Joseph in Lincoln. Palmer can really run – he has been clocked at 10.42 in the 100 meters and 21.11 seconds in the 200m – and he is also a dangerous returner. He is shaping up well in the place vacated by Samori Touré and will be on campus this semester.
Isaiah Garcia-Castaneda, WR
Update
The last school: State of New Mexico
Remaining eligibility: Two years plus a red shirt
To note: Garcia-Castaneda had a productive season at NMSU, catching 37 passes for 578 yards and four touchdowns. He was coveted as soon as he hit the transfer gate, but NU visited him in California and brought him to campus in December. At 6-foot, 190 pounds, Garcia-Castaneda is a candidate for any spot in the Husker receiver rotation under Mickey Joseph.
Kevin Williams, OL
Update
The last school: Northern Colorado
Remaining eligibility: Two years
To note: Williams, an Omaha North graduate, is a multi-year starter at the FCS level and started the 2021 season as the Bears’ starting left tackle. He has positional versatility and could be a tackle or guard candidate for the Huskers in 2022. In a young room overall, he adds a veteran presence.
Hunter Anthony, OL
Update
The last school: State of Oklahoma
Remaining eligibility: Two years
To note: The Oklahoma native entered 2020 as OSU’s starting right tackle, but injury cost him most of the season. Then he served as a substitute this fall. At Lincoln, the 6-foot-6, 330-pound will be a candidate for both right tackle and either guard position. He’s on campus this semester.
Tommy Hill, DB
Update
The last school: State of Arizona
Remaining eligibility: Three years plus a red shirt
To note: Nebraska loved Hill straight out of high school in Orlando in the 2021 class, but he ended up at ASU and got some playing time right away. The Huskers jumped on him as soon as he entered the portal, and now he will compete for playing time in a secondary that must replace three starters. He’s on campus this semester.
Timmy Bleekrode, K
Update
The last school: Fourman
Remaining eligibility: Three years
To note: Bleekrode immediately becomes the favorite to handle kicking duties after being recruited to Furman by new Special Teams Coordinator Bill Busch. The Atlanta native has scored 15 of 18 in 2021 with 51 yards and 21 of 25 the past two seasons.
Brian Buschini, P.
Update
The last school: Montana
Remaining eligibility: Three years
To note: Buschini was named FCS Punter of the Year after averaging over 47 yards per punt and over 44 net yards per attempt. He was considered perhaps the best punter available on the transfer market this winter and he will be counted on at Lincoln right away. He’s on campus this semester.
