Michigan Athletics expects $2.6 million from alcohol sales in 2024-25
The Michigan athletic department’s 2024-25 budget, the largest in its history, was approved by the board of directors at Thursday’s meeting.
According to the budget, the Wolverines expect revenues of $255.7 million while expenses are expected to be $253.6 million. That leaves UM with a small surplus of $2.1 million for the upcoming fiscal year. That’s up from the roughly $200,000 surplus in UM’s 2023-24 budget.
Michigan’s athletics revenue is expected to increase by $25.1 million compared to the 2023-24 fiscal year ($230.6 million).
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Most of the additional revenue will come from ticket sales, which are expected to increase by $14.8 million next season as the football team increases from seven home games last year to eight in 2024. There will also be “a slight increase in ticket prices,” according to a UM press release.
UM will also benefit from alcohol sales at Michigan Stadium, which were approved this spring after successfully rolling out at both Crisler Center and Yost Ice Arena during the winter. The department expects to generate $2.6 million in net revenue from alcohol sales at all three facilities, plus another $1 million in revenue from alcohol sponsorships.
In addition, the expansion of the Big Ten to 18 teams – Oregon, UCLA, USC and Washington join the conference on August 1 – will result in a $12.9 million increase in revenue from the TV rights deal (which began last year).
Operating expenses include a $10 million transfer to a deferred maintenance fund – which will be “used to fund significant athletic facility repair and rehabilitation projects” – and a $7.8 million transfer to the university.
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