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

  • DonaldH

    Ah, well then that makes all our dismal win/loss records worth it

  • Wv131

    And we are not even at full shares yet.

  • zero tolerance

    It's all about the money boys!

  • duane

    Sure we made money olly luck is a great a.d. Hope you haters of the program enjoyed the past year because your not gonna see failure like that again.Money can buy happiness and motown is going to be rolling in it.

  • JaneM

    Wow... What a wonderful report, I am so proud of Mr. luck with this very businesslike intelligence awesome .... Looks like it was a great move when Mr Luck got us into the big 12... Just think many more years to come .......It sure is a great day to be a Mountaineer...

    • Big Larry

      Oh Pleasssssseeeee....................

    • JT's

      Yeah and look at our teams records. Money can't buy wins

    • Alum

      Jane, you have a long term view and can see ahead, unlike some who post here who can't see to the end of their nose.

  • Tim walters

    Lets give Huggins and Holgerson a raise.Look how well they are doing with their programs. Yea right!!!!

  • tw eagle

    I haven't seen one mention of the fact that coach Holgerson had a Mountaineer Blue shirt on at the Tuesday presser ... BRAVO, coach ... the little things all add up ... and we are married to our colors.
    Let's Gooo Mountaineeerrsss!!!

  • Wv131

    Wait I thought this program was going lose money going to the big 12? lol

    • Steve

      Not money just games. We need to take this money and do something with it. Upgrades etc and stop hiring 1st shot guys like deforest.

  • tw eagle

    what % is WVU pulling from the XII now? if it's still at 50% , then there is still a lot of money left on the table ... with more tan $4 mil in overage WVU has the balance on hand to pay back the part of the loan owed to the XII ? or can WVU earn more than the interest being charged by the XII? Surprised to see the number of athletes supported by the athletic program ... 358 ... I'd guessed it was aroung 250 ... at $2000 per athlete WVU will need an additional

    • tw eagle

      got logged off in the middle of thought . . .

      ... $720,000 to cover the cost of stipends being bandied about by the ncaa ... is beer being vended at the coliseum yet? last number I saw was just short of $500k cleared on beer sales at the stadium ... probably get $200K from vended beer at coliseum ...
      coming seasons in the XII should have WVU fully funding their scholarship trust ... once the athletic department reaches that tipping point the dream of an enclosed stadium starts to take real form ... and you thought that new interchange on 79 was just an accommodation for the baseball crowd.

      • big tom

        I think that would be huge , to get an indoor facility,,, that would make coming to the games in nov. more accomadating. bring on the beer, and chips

      • Alum

        I'm certain the only alcohol sales at the coliseum are in the Statler Club Lounge and that selling beer to the general public via the concessions won't be happening at basketball games.

    • Big Larry

      WVU could make 100 million a year but none of it is helping us any...nor will it help the Football or Basketball programs under Luck, Holgorsen & Huggins...

      • Alum

        Explain why WVU athletic money should help you/us? Are you on welfare and want help (i.e., handout) from the University too?

  • SPIKE BISHOP

    I'm Sure Huggs Is Deeply Touched By Your Concern With His Health, But He Also Probably Wishes You Had A Life, And Read A Book About Being Successful In THE BASKETBALL WORLD!!

  • Greg

    Ollie, thanks for a job well done. My little pittance will once again be on the way next year. Unlike many who post on this site I do contribute to MAC. Hope the bright lights of Austin don't lure you away. Remember, once a Mountaineer, always a Mountaineer!

    • Alum

      Fully concur!

    • Art in Ohio

      Same here. Will buy my two tickets and contribute to the MAC. Ollie has us in a great conference and the glass is half full. We must keep the faith.

  • Woodchuck

    Why do mountaineers fans tolerate this scam? They will be giving a huge raise. Mountaineers are longer free!

    • BJones

      Not even worth a reply, but here it is, "you sir are an idiot".

  • Oh Did Ya?

    Wait - I thought all of the rocket scientists that post on this site said going to the Big 12 was a disaster - we'd operate at a deficit, blah, blah, blah. So with only half of the revenue there is a surplus? OL may know what he's doing after all. Oh wait, being in the AAC getting 10% of what we get in the Big 12 would be much better for the future.

    • Shadow

      WVU is only 8.7 million in the red over the last two years. Breaking even is still in the future.

      • Oh Did Ya?

        The 8.7 is including an exit fee that was paid one time (not recurring). Revenue from Big 12 goes up not down going forward.

        • Jason

          I said this before the season started last year. WVU will get paid more $ from just being associated with the Big XII, however, from a W/L standpoint, last year was their only shot at doing something, moving forward, they will hover around middle of the pack in the Big XII and maybe once every 10+ years or so they will piece together a team full of athletes that the big boy schools passed up on because of baggage, etc...but .500 in conference + a few non conf wins against the William & Mary's of the world will put them just at bowl eligibility, year in and year out...it will be a uphill battle. But, they will make more $.

    • BJones

      You are right where are all the people that say Oliver luck is the worst hire WVU ever made. Etc. etc. they are about dumb as dirt. Signed '94 Alum.

      • Robin

        I was not one of those people. However, in the end you the fans will judge on wins and losses not the balance sheet.

        • BJones

          The wins are going to come. But, it all starts with the money. Hate to say it but, the money helps to build a strong program. Not just in football.

        • Mike

          Totally right! WVU had winning programs in both basketball and football prior to Luck. So far, it is the fans that losing. Enjoy you money Oliver.

          • Justin A.

            Winning yes...in the BE. If we want to be a big boy than we have to bring in money like a big boy. The wins will come. If you don't want to be patient, then I hear Marshal has a pretty solid program, for ConfUSA. Lots of lower level bowls in their future, maybe that program fits your wants and needs better. I want a nationally relevant program though.

          • Oh Did Ya?

            Justin is exactly right. Everyone has to keep in mind the alternative. OL saw the dismantling of the BE and got us out. Today we would be relevent in the AAC (not the ACC) and playing a Conf USA-like schedule and then everyone would be complaining because Louisville got in and we didn't and it would all be Luck's fault. The ONLY option to stay relevent was the Big 12 - for that OL deserves a ton of credit.

          • Jason

            The ACC would have been a way better fit geographically and from a competition standpoint. However, the ACC did not want WVU...because the market (television viewership) is already covered by taking Pitt and WVU is not a member of the AAU (Association of American Universities)

          • Alum

            Jason, wrong conference AAU membership is (was) a requirement for the Big 10, not the ACC. I say was because Nebraska gave it up right after joining the Big 10; it remains to be seen if they get the membership back.

  • OKANYDAY

    I just don't understand why Huggy Bear keeps gaining weight. His tent-like shirt is about to become embarrassing to the WVU fans ! He's going to have a heart attack if he doesn't loose some lard.

    • Robin

      He already had one several years ago.

  • William

    Should give 'Sweatsuit' Huggins and 'Man in Black' Holgorsen a million dollar raise, they are both way under paid!

    • steve

      under paidwhat a joke !! they are both over paid. huggins lost it and holgorsen has never had it . win and you get more !!!

    • Dean Miller

      Dana has got to go. Huggy is questionable.

      Dana is far overpaid!!