Michigan approves largest sports budget in school history for 2024-25

The University of Michigan on Thursday approved the largest athletic budget in university history, including $255.7 million in expected revenues and $253.6 million in planned expenses for the 2024-25 fiscal year.

If those numbers come to fruition, the Wolverines would see a surplus of $2.1 million, compared to about $200,000 in the 2023-24 season. Michigan’s revenue is expected to increase by more than $25 million, a 10% increase over 2023-24.

The Wolverines are expected to see a $14.8 million boost in ticket sales as their football team has added an eighth football game to its 2024 schedule and is also implementing “a slight increase in ticket prices.”

Much of the revenue increase will come from the television deal with the Big Ten, which will grow to 18 teams over the summer with the addition of Oregon, UCLA, USC and Washington. Another portion of the revenue will come from newly approved alcohol sales at Michigan Stadium, which is expected to bring in $2.6 million in revenue, along with another $1 million from alcohol sponsorships.

Part of the increase in operating costs is due to the transfer of $10 million to a deferred maintenance fund for “significant athletic facility repair and rehabilitation projects,” with an additional $7.8 million being transferred to the university.

Michigan led the Big Ten with seven team championships last season, marking the third consecutive year the Wolverines have led the conference in total titles. They finished 11th nationally in the LEARFIELD Directors’ Cup rankings of the best athletic departments.

As early as 2025, the college landscape will look very different following the settlement in the House vs. NCAA case, which paved the way for revenue sharing with athletes.