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2023 LSU WBB won Natty but lost nearly $8M
Posted on 1/29/24 at 11:42 am
Posted on 1/29/24 at 11:42 am
Per Business Report Article
quote:
An audit of LSU’s athletic department found that the organization operated with a nearly $4 million deficit last year.
quote:
The report released this week by Louisiana’s Legislative Auditor’s office says the athletic department collected nearly $200.4 million for the 2023 fiscal year, while expenses totalled closer to $204.4 million—a roughly $3.9 million deficit
quote:
Women’s basketball—which won its first National Women’s Championship in 2023—posted a nearly $7.8 million deficit for 2023. The program collected just under $2.5 million in revenues for the year but the team’s expenses were closer to $10.3 million. The program’s costliest line item is for coaches salaries, with the school paying $4.4 million in coaches salaries and bonuses last year-nearly double what the program collected in revenue.
This post was edited on 1/29/24 at 11:43 am
42
Posted on 1/29/24 at 11:43 am to DalenSA
And the LSU athletic department as a whole made frick you money because of its TV deal. Losing $8m is not that big of a deal, especially considering what they are paying Kim.
Posted on 1/29/24 at 11:44 am to Broski
I must not understand, it said the department lost 4 mil, how is the frick you money not calculated in that
Posted on 1/29/24 at 11:45 am to Broski
quote:
Losing $8m is not that big of a deal, especially considering what they are paying Kim.
Her fundraising efforts for facilities will more than pay for any year over year deficits her sport runs.
And it will positively impact MBB, VB, and GYM at least, in addition to WBB.
Posted on 1/29/24 at 11:45 am to DalenSA
Water is wet.
Every college funds its other programs with foot all money… but you know.. title ix
Every college funds its other programs with foot all money… but you know.. title ix
Posted on 1/29/24 at 11:45 am to RATeamWannabe
quote:
I must not understand, it said the department lost 4 mil, how is the frick you money not calculated in that
Because they don't report everything.
You're wild if you think LSU is operating under a net loss and still giving out these contracts.
Posted on 1/29/24 at 11:46 am to Broski
quote:
LSU’s athletic department found that the organization operated with a nearly $4 million deficit last year
quote:
broski: And the LSU athletic department as a whole made frick you money
Posted on 1/29/24 at 11:46 am to DalenSA
costs money to make money. Mulkey and staff costs money
Posted on 1/29/24 at 11:46 am to DalenSA
It’s women’s basketball. In college it sucks money away from men’s sports same as the WNBA.
Meanwhile people want Kim Mulkey to have a decision on facility upgrades. If a department at your business is losing money will you allow that VP to dictate where money goes for improvements? Hell no.
Meanwhile people want Kim Mulkey to have a decision on facility upgrades. If a department at your business is losing money will you allow that VP to dictate where money goes for improvements? Hell no.
Posted on 1/29/24 at 11:47 am to PenguinPubes
Yeah but the exposure the women's hoops team gave the university has no price tag.
Mulkey has a really big staff and I'm not really sure what all of them do. That would be my only issue if you wanted to cut funds but I'm sure that was non negotiable to get Mulkey to leave Baylor.
Mulkey has a really big staff and I'm not really sure what all of them do. That would be my only issue if you wanted to cut funds but I'm sure that was non negotiable to get Mulkey to leave Baylor.
Posted on 1/29/24 at 11:48 am to DalenSA
And? Every sport besides football and men’s hoops lost money.
Posted on 1/29/24 at 11:49 am to BayouBaw84
Most men's sports lose $$$ as well. At LSU, only fball and MBB made money in 2023.
Posted on 1/29/24 at 11:49 am to DalenSA
Just the Reese/Clark drama alone got enough clicks for LSU to recoup that $8m.
Posted on 1/29/24 at 11:50 am to TigerCub
quote:
And? Every sport besides football and men’s hoops lost money.
Last I checked, LSU baseball makes ~$1-2M. One of the very few baseball teams that turn a profit.
Posted on 1/29/24 at 11:52 am to DalenSA
That was money very well spent.
They should be making money this year with the capacity crowds.
They should be making money this year with the capacity crowds.
Posted on 1/29/24 at 11:53 am to Sev09
quote:
Last I checked, LSU baseball makes ~$1-2M. One of the very few baseball teams that turn a profit.
Check again. Lost about $60k last year (which is effectively breaking even).
Posted on 1/29/24 at 11:54 am to geauxpurple
quote:
They should be making money this year with the capacity crowds.
They won't, but again, it doesn't matter.
Posted on 1/29/24 at 11:56 am to nicholastiger
quote:
non negotiable to get Mulkey to leave Baylor.
Baylor did everything they could to keep her. They obvoiusly thought she was worth more than the bottom line on an income statement
Posted on 1/29/24 at 11:57 am to ProjectP2294
quote:
Her fundraising efforts for facilities will more than pay for any year over year deficits her sport runs.
And it will positively impact MBB, VB, and GYM at least, in addition to WBB.
this. If Mulkey gets a new basketball arena built it's far worth it. Hope she turns LSU women's basketball intoUConn and Gino Auriemma
Posted on 1/29/24 at 11:57 am to DalenSA
quote:
The program’s costliest line item is for coaches salaries, with the school paying $4.4 million in coaches salaries and bonuses last year-nearly double what the program collected in revenue.
This doesn't take into account Kim's value as an ambassador for the school and women's sports. She is also a hell of a fundraiser. I think its one of those things where Kim's value can't be fully measured on a spreadsheet.
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