Report: Oklahoma Reached Nearly $200M in Revenue for 2023
All things considered, 2023 was a good year to be an Oklahoma Sooner. The softball team won its third consecutive national title. The football team followed up a disastrous 2022 season with a 10-win season, and both the men’s and women’s basketball teams look to be headed toward great seasons.
That success comes with a cost though, and not just sweat equity from the athletes — we’re talking real dollars and cents.
According to an NCAA financial report obtained by Sooners Illustrated, Oklahoma athletics enjoyed unprecedented financial success in the 2023 fiscal year.
Per the report, OU’s athletics department reported a total operating revenue of $199,250,570 for the 2023 fiscal year, which runs from July 1, 2022, to June 30, 2023.
At almost $200 million, this represents the athletic department’s highest single-year revenue total in history and a year-over-year increase of nearly $22 million.
A financial report from USA Today shows that Oklahoma reported $177,320,217 in revenue for the 2022 fiscal year, giving the Sooners increases in revenue in consecutive years, dating back to 2021 ($159,116,745).
While the revenue for the athletics department in Norman continues to soar, so does the expenses list. Per the financial report, OU reported a record-high $198,975,224 in operating expenses for 2023, giving the Sooners a profit of $275,346 for the year — its lowest profit margin reported since 2009 ($82,844).
Here are some interesting numbers to know from the report obtained by Sooners Illustrated.
• $48,206,341 in Ticket Sales
– $42,994,857 (Football)
– $2,443,272 (Men’s Basketball)
– $1,470,955 (Softball)
• $60,705,640 in Contributions
– $47,348,156 (Football)
– $1,829,470 (Men’s Basketball)
– $559,613 (Women’s Basketball)
– $318,949 (Softball)
– $314,520 (Women’s Gymnastics)
As a member of the Big 12, Oklahoma brought in a total of $27,180,240 in media rights for 2023, a number that includes Big 12 conference distributions. That is a sum that will rise substantially when the Sooners make the jump to the Southeastern Conference this summer — As the SEC reported an average payout of $51.3 million per school for 2022-23.
The report also broke down the OU athletics department’s operating costs for the year, with some notable costs below:
• $46.3 million (direct overhead)
• $35.8 million (coaches salaries)
• $29.3 million (support staff, administration compensation)
• $18.87 million (athletic student aid)
• $14.6 million (debt service for athletic facilities)
• $11.49 million (travel costs)
• $5.6 million (recruiting)
• $5 million (uniforms, equipment)
