Michigan, Ohio State post record revenue in 2022

The Big Ten’s two flagship athletic programs are driving profits for their universities. 

The University of Michigan athletics department reported a $17.1 million surplus for FY2022 behind $210.6 million in operating revenue — a record for the school’s athletic programs. 

Rival Ohio State University saw its athletic department generate a record $251.6 million in revenue between July 1, 2021, and June 30, 2022, up from $107 million for the fiscal year prior. 

• Michigan’s surplus marked its largest since 2012. 
• Ticket sales drove profits with $55.2 million sold — $47.5 million from football alone. 
• The Wolverines pocketed another $46.9 million from media rights deals. 
• Ohio State saw ticket sales reach $59.6 million in FY2022 — $47 million from football. 
• Media rights revenue for the Buckeyes reached $48.9 million, up from $40.5 million in FY2021.

The favorable results for the two schools also included contributions from donors, foundations, and companies. Michigan reported that it received $43.5 million worth of donations in FY2022 — a $13 million increase year-over-year —  while Ohio State reported $62.9 million in revenue from individuals, foundations, and companies, up from $19.7 million in FY2021.  

Big Things to Come 

Michigan, Ohio State, and other Big Ten schools are poised for big paydays following a blockbuster media rights deal. 

In August 2022, the Big Ten finalized media rights deals with FOX, CBS, and NBC/Peacock worth at least $7 billion in total, sources told Front Office Sports.

The deals, which include football and all Olympic sports, will run from 2023-30.