MORGANTOWN, W.Va. — West Virginia University’s athletic department on Friday announced a $4.2 million profit during fiscal year 2012-13, a bounce-back from the previous year’s $12.9 million deficit.

The department brought in more than $77.7 million last year while expenses topped $73.5 million. Read the budget breakdown here.

Tim Heitman-USA TODAY Sports

West Virginia netted $10.35 million from its Big 12 partial share during the fiscal year that ended June 30.

Among factors fueling the surplus was a $10.3 million partial-payout in Big 12 earnings. (WVU and TCU, upon joining the conference last year, agreed to receive 50-percent revenue shares in 2013, 67 percent in 2014 and 85 percent in 2015, before finally netting full shares in 2016.) West Virginia also enjoyed a record take for Mountaineer Athletic Club donations, surpassing $23.9 million.

“I cannot say enough about the job turned in by our Mountaineer Athletic Club staff to reach record-breaking fundraising numbers for the second straight year,” said WVU athletics director Oliver Luck. “I also want to thank the MAC members who rallied around us and the many fans who purchased tickets to various athletic events.”

Matt Borman, executive director of the MAC, attributed fundraising gains to fan excitement surrounding last year’s Big 12 debut, along with the basketball season-ticket reseating campaign that concluded a month before the 2013 fiscal year ended June 30.

The largest expense was more than $26.3 million in compensation and benefits to coaches, administrators and staff members. Basketball coach Bob Huggins saw his salary climb to $3 million last year while football coach Dana Holgorsen earned $2.5 million in the first year of a six-year extension.

Some $10.6 million was devoted to facilities maintenance and repair and more than $8.7 million was spent on student aid for the school’s 358 athletes. Team travel costs topped $6.9 million, with equipment/uniforms/supplies at $3.5 million. The athletics department spent more than $1.3 million on recruiting.

“Oliver asked all of us to trim our budgets, but do so in a way that would not affect our competitiveness athletically or hinder our student-athletes in the classroom,” said Michael Szul, WVU’s associate athletic director for business operations. “The athletic staff worked with the business office to tighten budgets, and along with our MAC donors’ generosity, we were able to reach our goal of turning an excess.”

The department brought in nearly $10.3 million combined on radio/television broadcasts, royalties, sponsorships, concessions and parking.

Said Luck: “We all know how important it is to have a self-supporting athletic department, and that goal has been reached once again.”

Of course, the term self-supporting is a gray area in Division I sports. WVU’s athletic department received $4.3 million from student fees last year, essentially the margin of profitability. (Not that the Mountaineers are alone in this practice. A 2012 USA Today report found only seven Division I athletics programs—Texas, Oklahoma, Penn State, LSU, Nebraska, Ohio State and Purdue—received no university subsidies.)

In May, Luck projected fiscal year 2014 would bring a $50,000 shortfall.

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Comments

  • Boomgrounder

    The goal is to make money not lose money. So we did good there. The BIG 12 is better than the BIG EAST. So we did good there. You win some, you lose some. That's about where were at. Relax and enjoy it, it's sports!
    Go Mountaineers!!

  • Brad

    Huggy and Ollie are fine. Jury still out on Dana. Why he keeps DeForest around is beyond me. Special team situations now make me hold my breath every time they occur. Like fair catching a ball at our 3 yard line!!! Our QB situation is exasperating. Just venting. I,also, would rather be playing in the ACC but if they don't want us then we are doing what we have to do!!

  • Alum

    I suggest you look up the definition of the word extortion before you use it.

  • JHT'88

    Didn't you notice the profit was the same as the money extorted from the students? Also didn't they just tell us they would be loosing $50,000 next year. They only thing that saved them is the mandatory fees and the mandatory contributions to MAC so you can buy your season tickets. Extortion is one way to make money when your product is failing.

  • Bross

    Allen, you neglected to report that the athletic department also paid the school over 8 million dollars for the cost of athletic scholarship. Thus negating the 4 million dollars of student fees it collected. Many major schools do not collect the cost of scholarship from their athletic departments. Lets tell the whole story when we take a shot at the athletic department being self supporting!

  • Rock Solid

    Money to run a big league program is important, being in one of the big power conferences is important to succeed in the furure. Think where we would be if we were still in the All American Big Least Conference. NO MONEY, NO respect, and NO future hope! May as well be playing teams like Cincinnatti, and Connetticut. Remember there is something wrong with our reputation {see car tipping, and why Va. Tech} refused to schedule us for the last seven or eight years. Our state has fallen off the charts looking more like a trailer park in the middle of Beverly Hills than a vibrant, healthy, growing culture. Other than Morgantown, Matinsburg, Charleston, Beckley, the state looks like it belongs in the ICU of a hospital. If we lose Ollie, you nay sayers will yell Hurray and will once again prove why WVa has fallen to 50th in most economic polls. Since most of the successful people have moved away, or have passed away, you nay sayers are doing what losers always do, blaming everybody else for your lot in life, and how it is not your fault for being stuck at the bottom of the food chain. Well guess what? You can't fix stupid, and if you are not part of the solution, YOU are part of the problem! GO MOUNTAINEERS!

    • Alum

      Spot on. And while you alluded to it very strongly you didn't directly point out the negativity here, so I will. I was out of WV for over 20 years and moved back over 6 years ago. The negative attitudes of the folks here have been like a hard slap to the face. I don't remember it growing up here but maybe that is because I was in it. Having come back though I see it very clearly. Being negative is easy. Blaming others is easy. And negativity is draining. Finding positive solutions often requires hard work and thought; thank goodness WVU has an administration that follows this path rather than the negative path.

  • Justin

    I bet oliver dreams dollar signs...even wipes with it

    • Chuck

      Good!! That is why is needed to win in college athletics!!! Alabama isn't the school of the poor and blind. And saban isn't paid in the middle of his conference salary. Holgerson's pay is in the bottom half of the big 12. As is Ollie. Want a better coach. Better pony up big boy money

  • Mike

    Last year we were in the red. Last year we paid an exit fee, paid coaches salaries who are no longer here, only got 1/2 payment from big 12 and paid to build a bball practice facility. And on a side note everyone who thinks Oliver luck was a bad hire and is terrible for WVU. For some reason Texas ( who has the largest ad budget in nation) does not think so, Stanford last year did not think so and everyone else in college football must not think so because he is one out of 13 people to be on the playoff committee.

  • 76 Alumni!

    We went from Beast to Donkeys joining the Big12! Lost away game fanvase too! Sad!

    • Chuck

      Not worried about away game attendance. Maybe fans will learn to fill mps first.

    • Greg

      Swearing on your mother's eyes, provided she's still alive and kicking, how many away games in football and basketball did you attend our last year in the Big East? For that matter, home many home games did you attend? And just exactly where do you live? Remember, you're swearing on your mother's eyes.

  • joe

    Money funds growth and future advancement for the Athletic Department. Facilities, and all the things that help you recruit to compete. We have always done well with what we had, but we have never had like we will in the future.... The segment of our fan base that is backward thinking and change resistant will come around in the future.

    Key is we need to keep Mr. Luck. He will keep things moving in the right direction and he will keep talented coaches on staff to Lead our programs. Give it time folks.... bright days ahead.

  • Stemple in Michigan

    The revenue to expense ratio is absurd. How many young men and women could have free rides to a four year degree just on what was spent on travel? Well it is what it is! College athletics is Big Business. Only a small percentage university students reap the benefits of full paid scholarships.

    • Alum

      The athletic department is self-sufficient, meaning it raises its own funds. It's monies would not go to the general student population even if the travel costs were reduced. Why don't you figure out how the athletic department functions before you post silly comments like this.

  • Ut Oh

    Glad to hear that we have "fans" that think that all we need to do is pull on a WV uniform and the wins follow. Every program in the country feel that way too. After we have had some great years it is now expected that we are going to roll out national championship contenting teams year in and year out. Well guess what it is hard to bring the talent to our little neck of the woods but they are starting to come more often than in the past. Be patient and the wins and talent will come. And by the way William and Little Larry can go f yourself. Whoops I didn't mean to be mean!

  • Magic Mike

    All that money and has it gotten us a winning team?

    • Chet Ubetcha

      You're looking at it backwards. The extra money allows for upgraded facilities which bring in better recruits, which leads to better teams and more wins. A leads to B then C. Just because we had the nicest facilities in the big east, doesn't mean we were able to compete on a national scale. Luck knows this, and apparently everyone else is oblivious or ignorant

      • JaneM

        @Chet ...very nice post ... I agree with you... Mr. Luck is doing a wonderful job.... As time goes on he will add, and do a lot more....

    • tw eagle

      although it sometimes appears that money has "bought" players and/or officials at some other institutions , I really hadn't thought that earning more money for the athletic department obligated WVU to spend it on mercenary players or game officials planning a long and luxurious retirement ... other than the two QB's coach Holgerson has recruited to WVU , I am very pleased with the talent level and work ethic of all the other players.
      good QB's have to be more than a two-legged distributor of pigskins ... I liken a QB to thoroughbred jockey ... most anyone can learn to ride around an oval without falling off. a good jockey becomes one with his mounts, working with them to attain their best performance that is available that day, and hopefully guiding them home a winning effort.

  • susanf

    Apparently you geniuses who are singing Luck's praises didn't read beyond the headline. The "profit" came from the 4.3 million that was collected from student fees. Without that, the program would have, at best, broken even. And guess what will happen to those student fees in the future? They will keep going up! There is no way that the increased travel costs for WUV to be in the Big 12 won't eat up the profit margin. And especially if ticket sales decline due to poor team performance.

    • Steve

      We got 10 mil in b12 money @ 50% vesting. Once we are fully vested and the tier three kicks in we will be clearing 4 times what we made in out best yr in the big east.

    • Chet Ubetcha

      You're joking right? WVU is only getting a small portion of big 12 revenue currently (less than 50%). That number will climb to close to 20 million in the coming years. Factor in the fact that we were still recovering from the one time buyout to escape the big east and we're only going to be further in the black. The travel costs aren't going to inexplicably go up, they will be inflated gradually like revenue. Can't argue with facts

      • susanf

        Wonder how much it is going to cost for us to eventually escape from the Big 12? This is not a good "fit" for WVU. I stand by my assertion that WVU will eventually regret the decision to hire Luck and Holgorsen.

        • Alum

          You aren't lil' larry posting under a different name are you? Or maybe you are that screamer, billy.

          You want dead? WVU staying in the BE/AAC would have been a death sentence.

          There is change going on and obviously you don't like it. Here's what you can do, accept it for what it is and go with it, or, stay behind and whine about it while thinking of the good old (nostalgic) days. I think I know which one you prefer.

        • Chuck

          What conference do you want smarty pants?????? Sec, acc said noooooooooooo. To stay at the big boy table this was the only move

        • wenkev

          I'll stand by my assertion that you will be proven totally wrong!!! If OL is such a bad AD then why is Texas, one of the nation's biggest and influential college programs supposedly after him?

          • susanf

            I hope they get him.

  • Phil M.

    Now do you understand why it's important to keep Oliver as our AD.

    To all those who have been bashing him, you look a bit stupid don't you.