The Business of TCU Athletics (2013 Edition)

Athletics spending rose to $71 million in FY2013, the highest number ever for TCU Athletics. - Brandon Wade

Every year (for the last two years), FungoFrog takes a look at the latest TCU Athletics numbers, showing where we make money and where we spend it. Today, we look at the finances of the Athletic department from FY2013, a department that continues to grow.

(Looking for the writeup I did on the finances of the University? How about on University pay and compensation?The following information is athletics only but hey, why not go do some re-education on TCU's finances while you are at it!?)

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In my mind, this chart says it all... Football dominates, basketball comes in a respectable second, and everybody else is somewhere in the hunt.

The business of college athletics in FY2013 was once again all about NCAA Football, the sport where just about every Div. 1 school drives most of its athletics revenue. That doesn't mean athletics offices are in the black, far from it for most including TCU, but for a growing number of schools the science of "breaking even" is becoming more and more clear: Go big on football, compete in basketball, and don't let any other sport drag you down.

2012-2013 Revenue Rankings
1. Football $32,464,146
2. Men's Basketball $6,267,008
3. Women's Basketball $3,513,299
4. Equestrian $3,435,883
5. Baseball $3,122,155
6. Women's Track $1,557,304
7. Soccer $1,538,310
8. Volleyball $1,447,114
9. Women's Swimming & Diving $1,272,500
10. Men's Track $1,139,586
11. Women's Tennis $1,042,646
12. Men's Tennis $982,230
13. Men's Swimming & Diving $895,263
14. Women's Golf $716,450
15. Men's Golf $700,595
16. Rifle $416,158

Equestrian saw a notable rise in revenue for FY2013 (calls made to TCU to ask why were not immediately returned), pushing it into the top 5, next to the usual suspects. That $416k for rifle may seem low but compared to that programs FY2004 number ($60,039), that program is riding sky high.

Of course, as TCU has seen athletic success it has also seen admissions success, making it possible for the administration to grow the school's enrollment while also lowering the admission rate.

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Survey Year Male Undergraduates Female Undergraduates Total Undergraduates
2003-2004 2577 3814 6391
2004-2005 2678 4009 6687
2005-2006 2654 4064 6718
2006-2007 2966 4301 7267
2007-2008 2872 4133 7005
2008-2009 2886 4215 7101
2009-2010 2955 4348 7303
2010-2011 3030 4488 7518
2011-2012 3174 4681 7855
2012-2013 3269 4855 8124

One quick note: You may wonder how these numbers are figured. Who gets credit for media revenue? General advertising? Sponsorships? While TCU has never confirmed this, it is believed these numbers represent a calculation (not a raw number) that gives proportional credit of revenue "generated" to each sport. Thus, football gets the lions share of credit for media revenue, but not all of it: basketball, baseball and volleyball will get some too. Same goes for general sponsorships, they are assigned proportionally by an internal formula that seeks to assign proper "credit" to each sport. That's why rifle "generates" $416,158 without selling a single ticket: Sponsorships, prize money, etc.

TCU Athletics: The 30,000-Foot Numbers

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Not surprisingly, TCU athletics revenue grew yet again in FY2013, albeit at a slower pace than in year's past. Since FY2004, TCU athletics revenue has grown 238% with the vast majority of that growth coming from football. And yes, the Big 12 isn't going to hurt that number, but it is also not the single largest driver of revenue growth, since TCU was already spending far above its means before it joined the conference. The vast majority of that media revenue will serve to simply "balance the books" for TCU, not radically increase spending. More on that later.

Survey Year Gross Revenue
2003-2004 $21,307,553
2004-2005 $21,116,182
2005-2006 $37,111,422
2006-2007 $39,191,874
2007-2008 $43,439,777
2008-2009 $46,461,545
2009-2010 $52,405,010
2010-2011 $56,245,071
2011-2012 $68,050,907
2012-2013 $71,932,668

In FY2004, TCU Football accounted for more than 45% of the total athletic department revenues. In FY2013, that number remains the same.

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Not surprisingly, men's sports revenues have led the way for TCU, accounting for a majority of TCU's total revenue.

Survey Year Total Men's Team Revenue
2003-2004 $14,608,168
2004-2005 $12,295,281
2005-2006 $20,182,952
2006-2007 $21,505,894
2007-2008 $24,838,773
2008-2009 $26,766,714
2009-2010 $30,761,370
2010-2011 $33,444,277
2011-2012 $38,711,973
2012-2013 $45,570,983

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Women's sports may be the lower level producer, but they still produce a respectable chunk of change.

Survey Year Total Women's Team Revenue
2003-2004 $4,743,157
2004-2005 $5,595,085
2005-2006 $8,080,579
2006-2007 $9,013,757
2007-2008 $9,893,305
2008-2009 $10,987,132
2009-2010 $11,290,305
2010-2011 $12,006,357
2011-2012 $13,231,570
2012-2013 $14,939,664

The one "alarming" number has always been the guesstimate of how much TCU is giving to TCU athletics to cover its "losses" each year. In order to be competitive with the big boys, the school made the decision years ago to run the department at a loss, while filling in the funding gap at the end of the year with universtiy funds. While TCU has never confirmed the below number as being this "filler" I believe it is a good gauge for just how much dough TCU kicks in each year to the TCU Athletics bucket.

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That large spike you see was the FY2012 number, otherwise known as the final year in the MWC where we were ramping up to be in the Big East/Big 12... Revenues had to come up to be competitive, but MWC media #s were... Low. In FY2013, TCU saw a $9 million increase in media revenue, accounting for the drop in extra funding needed... I expect we could see this "not allocated" number come down/stay steady in future years, depending on where the athletics department wants to take the total athletics budget at the end of the day.

Survey Year Not Allocated by Gender/Sport Revenue
2003-2004 $1,956,228
2004-2005 $3,225,816
2005-2006 $8,847,891
2006-2007 $8,672,223
2007-2008 $8,707,699
2008-2009 $8,707,699
2009-2010 $10,353,335
2010-2011 $10,794,437
2011-2012 $16,107,364
2012-2013 $11,422,021

TCU Baseball

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Baseball revenue has slowly been on the climb for TCU, although as you can see it has leveled off a bit the last few years. Blame that on the athletic department refusing to make changes to ticket prices and stagnant attendance growth the last few years. The additions of more party patios and the left field grassy area will help grow this, as well as a larger share of Big 12 media revenue. At the end of the day though, higher ticket prices will be needed to move this department forward from a revenue perspective.

Survey Year Baseball Gross Revenue
2003-2004 $848,679
2004-2005 $958,182
2005-2006 $1,743,240
2006-2007 $1,859,604
2007-2008 $2,053,456
2008-2009 $2,349,416
2009-2010 $2,677,501
2010-2011 $3,076,442
2011-2012 $3,055,379
2012-2013 $3,122,155


Men's Basketball

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The revenue picture for men's basketball over the last 10 years looks a lot like the team's performance growth: better, worse, better, worse... But at the end of the day, not great. I have no doubt that with a more competitive men's team we will see more consistent growth and better numbers from Trent Johnson's squad, but until then we have to live with this shocking fact: Trent Johnson's reported salary ($1.6 million) eats up almost 26% of the team's yearly revenue... yikes!

Survey Year Basketball Men's Team Revenue Basketball Gross Revenue
2003-2004 $2,427,743 $3,876,992
2004-2005 $1,784,821 $2,912,435
2005-2006 $3,647,896 $6,554,861
2006-2007 $3,590,513 $6,649,589
2007-2008 $4,758,101 $8,045,930
2008-2009 $4,546,325 $7,965,745
2009-2010 $4,181,429 $7,646,217
2010-2011 $4,341,175 $7,831,321
2011-2012 $6,020,481 $9,613,816
2012-2013 $6,267,008 $9,780,307

Women's Basketball

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Ya, looking a little limp there ladies... Head coach Jeff Mittie hasn't had a winner in quite awhile, although TCU is usually reasonably competitive. Women's basketball is only a money maker for the elite, which we would love to be, but likely won't be anytime soon. For now, I am OK with this number, although I would like a steady $5 million a lot better.

Survey Year Basketball Women's Team Revenue Basketball Gross Revenue
2003-2004 $1,449,249 $3,876,992
2004-2005 $1,127,614 $2,912,435
2005-2006 $2,906,965 $6,554,861
2006-2007 $3,059,076 $6,649,589
2007-2008 $3,287,829 $8,045,930
2008-2009 $3,419,420 $7,965,745
2009-2010 $3,464,788 $7,646,217
2010-2011 $3,490,146 $7,831,321
2011-2012 $3,593,335 $9,613,816
2012-2013 $3,513,299 $9,780,307

As a department, basketball has a lot of room to grow. If healthy, you would expect basketball to produce $15-20 million for athletics, instead of the paltry $9 million it currently supplies. Turn around years for the men and women will go a long way to making that happen.

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Men's Track & Field

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Nothing much to say about track... The sport doesn't pay for itself but considering the incredible athletes that we have produced, I wouldn't ever argue to get rid of it.

Survey Year All Track Combined Men's Team Revenue All Track Combined Gross Revenue
2003-2004 $548,381 $1,272,731
2004-2005 $606,235 $1,384,959
2005-2006 $818,846 $1,888,519
2006-2007 $836,831 $2,038,711
2007-2008 $1,021,607 $2,284,976
2008-2009 $1,013,032 $2,363,740
2009-2010 $1,028,705 $2,308,171
2010-2011 $1,068,072 $2,390,827
2011-2012 $1,102,040 $2,726,890
2012-2013 $1,139,586 $2,696,890

Women's Track & Field

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That's right folks... The women's track team pulls more revenue than the men's... Way to go.

Survey Year All Track Combined Women's Team Revenue All Track Combined Gross Revenue
2003-2004 $724,350 $1,272,731
2004-2005 $778,724 $1,384,959
2005-2006 $1,069,673 $1,888,519
2006-2007 $1,201,880 $2,038,711
2007-2008 $1,263,369 $2,284,976
2008-2009 $1,350,708 $2,363,740
2009-2010 $1,279,466 $2,308,171
2010-2011 $1,322,755 $2,390,827
2011-2012 $1,624,850 $2,726,890
2012-2013 $1,557,304 $2,696,890

And here are the numbers for the combined track & field teams...

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Equestrian

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Don't be fooled, Equestrian spends quite a lot every year. Thankfully the horses are a "gift" to TCU so that expense is saved, but this still is not a winner for TCU.

Survey Year Equestrian Gross Revenue
2003-2004
2004-2005
2005-2006
2006-2007 $243,259
2007-2008 $719,404
2008-2009 $907,875
2009-2010 $910,023
2010-2011 $1,624,639
2011-2012 $1,819,326
2012-2013 $3,435,883

Football

Ftblrev_medium

Here we are, the granddaddy of them all... That trend line should continue to increase (and I am sure season ticket fans agree) as higher media revenues and higher ticket prices funnel more and more revenue into the department. TCU spends more on football than most schools due to high tuition, but actually turned a profit this year of about $1 million, so HEY WE ARE DOING SO WELL!

Survey Year Football Gross Revenue
2003-2004 $9,717,071
2004-2005 $7,814,061
2005-2006 $12,155,447
2006-2007 $13,257,717
2007-2008 $14,944,618
2008-2009 $16,636,229
2009-2010 $20,609,361
2010-2011 $22,608,112
2011-2012 $25,984,011
2012-2013 $32,464,146

Men's Golf

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Ya... I would never expect Men's Golf to be a big winner, but come on now... JJ Henry can't hook you guys up with some more sponsors?

Survey Year Golf Men's Gross Revenue Golf Gross Revenue
2003-2004 $325,940 $701,614
2004-2005 $346,943 $714,042
2005-2006 $514,432 $942,690
2006-2007 $521,644 $1,018,921
2007-2008 $506,084 $1,012,679
2008-2009 $612,973 $1,222,966
2009-2010 $617,105 $1,308,829
2010-2011 $620,546 $1,300,949
2011-2012 $703,005 $1,442,551
2012-2013 $700,595 $1,417,045

Women's Golf

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Once again, the ladies lead the men... Not terribly surprising, but it is also within the margain of error... The race to $1 million is on!

Survey Year Golf Women's Team Revenue Golf Gross Revenue
2003-2004 $375,674 $701,614
2004-2005 $367,099 $714,042
2005-2006 $428,258 $942,690
2006-2007 $497,277 $1,018,921
2007-2008 $506,595 $1,012,679
2008-2009 $609,993 $1,222,966
2009-2010 $691,724 $1,308,829
2010-2011 $680,403 $1,300,949
2011-2012 $739,546 $1,442,551
2012-2013 $716,450 $1,417,045

Overall, the department brings up the rear in terms of revenue... Which is not at all surprising.

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Rifle

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Considering where they came from and the sport being almost totally unknown, this is a pretty outstanding number... Good for a 593% increase in 10 years... Pretty good ROI.

Survey Year Rifle Gross Revenue
2003-2004 $60,039
2004-2005 $173,326
2005-2006 $181,603
2006-2007 $223,958
2007-2008 $213,480
2008-2009 $296,074
2009-2010 $367,582
2010-2011 $305,206
2011-2012 $333,319
2012-2013 $416,158

Soccer

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With soccer popularity on the rise in the US, this isn't a surprising number... In fact, this is why I have been such a proponent of adding a men's soccer team... I think it would go over pretty big. But, regardless, this is why you see donor money and investments in soccer, the girls can hold their own and generate, for women's soccer, pretty strong revenue numbers.

Survey Year Soccer Gross Revenue
2003-2004 $514,719
2004-2005 $1,424,839
2005-2006 $973,522
2006-2007 $946,725
2007-2008 $1,222,197
2008-2009 $1,306,549
2009-2010 $1,329,874
2010-2011 $1,403,761
2011-2012 $1,570,370
2012-2013 $1,538,310

Men's Swimming and Diving

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Yet another sport that is likely a loser for TCU Athletics because of the large scholarship and facilities costs that go into it. And, another instance where the women are better than the men.

Survey Year Swimming and Diving Men's Team Revenue Swimming and Diving Gross Revenue
2003-2004 $439,636 $1,020,231
2004-2005 $456,252 $1,077,311
2005-2006 $576,929 $1,333,455
2006-2007 $681,906 $1,494,550
2007-2008 $768,165 $1,541,994
2008-2009 $701,780 $1,586,492
2009-2010 $771,787 $1,730,652
2010-2011 $840,634 $1,852,372
2011-2012 $877,259 $2,031,857
2012-2013 $895,263 $2,167,763

Women's Swimming and Diving

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Way to go ladies, way to go.

Survey Year Swimming and Diving Women's Team Revenue Swimming and Diving Gross Revenue
2003-2004 $580,595 $1,020,231
2004-2005 $621,059 $1,077,311
2005-2006 $756,526 $1,333,455
2006-2007 $812,644 $1,494,550
2007-2008 $773,829 $1,541,994
2008-2009 $884,712 $1,586,492
2009-2010 $958,865 $1,730,652
2010-2011 $1,011,738 $1,852,372
2011-2012 $1,154,598 $2,031,857
2012-2013 $1,272,500 $2,167,763

Overall, you can't expect much here... Making swim meets not free might help, but not enough to make it worth the potential negative cost of turning off what fans we do have.

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Men's Tennis

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TCU has one of the most "attended" tennis programs in the country, thanks to the fact that it is free, fun, and they give out food. Time to charge something? Probs.

Survey Year Tennis Men's Team Revenue Tennis Gross Revenue
2003-2004 $300,718 $651,512
2004-2005 $328,787 $717,350
2005-2006 $726,162 $1,571,844
2006-2007 $757,679 $1,654,393
2007-2008 $786,742 $1,690,077
2008-2009 $906,959 $1,951,468
2009-2010 $875,482 $1,855,921
2010-2011 $889,296 $1,850,385
2011-2012 $969,798 $2,073,547
2012-2013 $982,230 $2,024,876

Women's Tennis

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Once again, the ladies leading the men... Very strong.

Survey Year Tennis Women's Team Revenue Tennis Gross Revenue
2003-2004 $350,794 $651,512
2004-2005 $388,563 $717,350
2005-2006 $845,682 $1,571,844
2006-2007 $896,714 $1,654,393
2007-2008 $903,335 $1,690,077
2008-2009 $1,044,509 $1,951,468
2009-2010 $980,439 $1,855,921
2010-2011 $961,089 $1,850,385
2011-2012 $1,103,749 $2,073,547
2012-2013 $1,042,646 $2,024,876

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Volleyball

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The better this team gets, the higher the revenue will go. With media revenue increasing and ticket revenue likely to increase (like baseball, it is about time), Volleyball is well positioned to move into the $2-3 million range in coming years.

Survey Year Volleyball Gross Revenue
2003-2004 $687,737
2004-2005 $713,861
2005-2006 $918,350
2006-2007 $1,132,224
2007-2008 $1,003,267
2008-2009 $1,167,292
2009-2010 $1,307,544
2010-2011 $1,206,620
2011-2012 $1,292,477
2012-2013 $1,447,114

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