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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 11:45 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 11:46 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 11:48 am to DalenSA
And? Every sport besides football and men’s hoops lost money.
Posted on 1/29/24 at 11:49 am to DalenSA
Just the Reese/Clark drama alone got enough clicks for LSU to recoup that $8m.
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 11:57 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.
Posted on 1/29/24 at 12:02 pm to DalenSA
The women’s program lost millions before Mulkey's arrival too. Fact it is, women’s basketball at LSU is going to be a money pit. You can throw money away and lose or you can throw money away and win.
This post was edited on 1/29/24 at 12:46 pm
Posted on 1/29/24 at 12:11 pm to DalenSA
Looks like accounting tricks designed to show a net loss.
This post was edited on 1/29/24 at 2:24 pm
Posted on 1/29/24 at 12:13 pm to DalenSA
Gotta pay for Mulkey’s outfits and Angel’s eyelashes
Posted on 1/29/24 at 12:17 pm to DalenSA
A top notch athletic program is a huge driver of college enrollment, especially out of state students.
From a financial perspective you could chalk that $4M loss as an enrollment expense and call it a day. It’s a nothing burger and easily worth its cost.
From a financial perspective you could chalk that $4M loss as an enrollment expense and call it a day. It’s a nothing burger and easily worth its cost.
Posted on 1/29/24 at 12:18 pm to DalenSA
Do we know if this loss included TAF funds?
Posted on 1/29/24 at 12:31 pm to DalenSA
There are some interesting notes in the full report:
LINK
quote:
The largest variance between budgeted to actuals were from the two programs that won National Championships.
Baseball had sales 25.18% higher than the budgeted amount and Women’s Basketball exceeded budgeted sales
by 17.33%. Also, football outpaced projections by $1.26 million, possibly due to the head coaching change and
several home opponents that were highly ranked at the time.
LINK
Posted on 1/29/24 at 12:41 pm to DalenSA
Who cares? Championships >>> fiat currency
Posted on 1/29/24 at 12:46 pm to DalenSA
Pretty great ROI for what the LSU brand got in national publicity.
I would support giving Coach Kim some more funds from Baseball and Men’s Basketball to get us over the hump vs South Carolina this season.
I think $2M more could get us a repeat and would be a fantastic foundation for a Dynasty!
I would support giving Coach Kim some more funds from Baseball and Men’s Basketball to get us over the hump vs South Carolina this season.
I think $2M more could get us a repeat and would be a fantastic foundation for a Dynasty!
Posted on 1/29/24 at 12:50 pm to DalenSA
quote:
the school paying $4.4 million in coaches salaries and bonuses
LOLOL no. How about the TAF.
Posted on 1/29/24 at 12:51 pm to DalenSA
No way the women's basketball team is losing money starting this year. Guarantee Kim Mulkey will be operating in the black as long as she is here.
Posted on 1/29/24 at 12:57 pm to DalenSA
Just wait until Bob Mann finds out the athletic department has no money to contribute back to the academic side of the university. What more can we do to make him unhappy? This is a catastrophe of seismic proportions.
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