Good evening. A recent NCAA report obtained by AL.com reveals that Alabama Athletics faced a significant financial deficit in fiscal year 2024, reporting a loss of nearly $28 million.
This report, which covers the period from July 1, 2023, to June 30, 2024, showed the department generated $234.8 million in revenue, while expenses totaled $262.8 million, resulting in a net loss of $27.96 million.
Jessica Schingle, a UA open records and project specialist, provided an explanation for the shortfall, stating that the loss was largely attributed to one-time expenses tied to the football coaching transition.
This marks the second consecutive year Alabama has reported a deficit, although the previous year’s loss was partially explained by $14.3 million in uncounted gifts for fiscal year 2023. Despite the deficit, Alabama’s revenue saw an increase from $199.9 million in 2023 to $234.8 million in 2024, though spending also rose from $212 million to $262.8 million.
When it comes to individual programs, Alabama Football remains the financial powerhouse for the department. The football program generated $140.3 million in revenue and spent $113.8 million, yielding a surplus of $26.4 million. Notably, football coach salaries soared from $21.3 million in 2023 to $47.4 million in 2024, while recruiting expenses also jumped from $2.9 million to $5.3 million.
On the basketball front, Alabama Men’s Basketball saw an uptick in revenue, earning $21.3 million for FY 2024, including their first Final Four appearance, up from $20.6 million the previous year. With expenses at $15.3 million, the program posted a surplus of nearly $6 million, a marked improvement over last year’s surplus of $4.9 million.
Across the department, the biggest expense was coach pay and benefits, which surged to $65.3 million—a dramatic increase from $37.3 million the year prior. Additionally, support-staff pay saw a notable rise, climbing to $41.5 million, up from $38.5 million in FY 2023.
In terms of revenue sources, contributions were Alabama’s largest intake, totaling $75.3 million, a huge jump from $48.9 million in FY 2023. Of that, $53.5 million came from football, marking an increase from $42.7 million last year. Media rights were the second-largest revenue stream, bringing in $56.2 million, a modest rise from $55.6 million in 2023.
Despite the loss, the department’s overall financial growth is clear, with substantial increases in revenue from both contributions and football-related income.
More news…..
Ex-Alabama football player arrested on domestic violence charges
A former NFL and University of Alabama football player has been arrested and charged in connection with a domestic violence incident that took place in December.
On December 30, Hoover Police responded to a call from a woman in the Lake Cyrus neighborhood who reported that her boyfriend, 34-year-old Marcell Dareus, had abused her.
The victim stated that an argument escalated when Dareus pushed her to the ground and used a metal object to damage her car. Dareus left the scene before police arrived.
After an investigation, authorities filed charges of domestic violence in the second and third degrees.
Dareus turned himself in at the Jefferson County Jail on Monday and was released after posting a $36,000 total bond.
Court records indicate that the victim has been granted a protection order against Dareus.
