The UConn athletic department released its annual NCAA financial report for the fiscal year 2023-24 on Wednesday, reporting a $7.6 million increase in self-generated revenue.
The athletic department relied less on institutional support, according to the report, receiving $31.7 million, a decrease of nearly 32% from two years ago. It cited “substantial” increases in ticket sales and fundraising for the increase in self-generated revenue, along with a decrease in personnel costs.
UConn said the athletic department was able to self-generate nearly 60% of its own revenue for the second straight year, up from 44% two years ago. The athletic department generated $16.1 million in ticket sales, up from $12.9 million a year ago. It also received $26 million in donations.
The school believes that its athletic success has made a “significant” contribution to the state’s economy, with the report estimating the total economic output to be more than $242.7 million. The university said the number represents over a 700% return on direct institutional support in back-to-back years.
The athletic department said university support has helped fuel “outstanding academic and athletic achievements,” with 76% of student-athletes earning a 3.0 or better GPA during the spring term, including 82 student-athletes earning a 4.0, 100 student-athletes named to the Dean’s List in their respective school or college, 30 student-athletes named New England Scholars, eight student-athletes named Babbidge Scholars and a 92% Graduation Success Rate.
UConn won its sixth national championship in men’s basketball this season and 11 conference titles. It was also one of seven schools nationally to rank in the top-25 in both the men’s (3rd) and women’s (24th) Capital One Cup final standings.
