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Noles News: FSU generates second-highest athletic department revenue since 2005

Florida State sits No. 15 in country for revenue earned in 2022, second in ACC

By Perry Kostidakis
/ new
Miami v Florida State Photo by Don Juan Moore/Getty Images

Recruiting

As Florida State’s summer camp season continues, another player has secured an offer after putting up an impressive performance — 2026 athlete Elias Coke out of Harrisburg, Pennslyvania. The 6-2, 195 pound prospect has yet to be ranked, but currently holds offers from the Boston College Eagles, Iowa State Cyclones, Syracuse Orange, UCF Knights, Michigan State Spartans, Virginia Tech Hokies and Purdue Boilermakers, amongst others.

The No. 14 defensive back in the 2024 clss, Cai Bates out of Orlando, had a good time in Tallahassee:

Football

USA Today Sports released its annual analysis of the financials behind college athletics, taking a look at revenue and expenses and the sources of each.

FSU, which is No. 15 in the country for revenue and No. 2 in the ACC, posted its highest revenue since 2017-18 and second-highest since 2005. While ticket sales are still working their way back up to the numbers of the mid-2010s, there was a major surge in right and licensing revenue which hit an all-time high in 2022.

FSU Revenue and Revenue Sources: 2005-2022

Year Total Revenue Ticket Sales Contributions Rights / Licensing Student Fees School Funds Other
Year Total Revenue Ticket Sales Contributions Rights / Licensing Student Fees School Funds Other
2022 $161,141,884 $18,773,797 $42,279,406 $65,815,245 $8,691,672 $13,597,540 $11,984,224
2020 $129,481,351 $17,341,676 $37,215,952 $47,481,397 $8,743,772 $6,010,649 $12,687,905
2019 $152,757,883 $20,347,512 $40,308,148 $57,527,347 $8,431,335 $7,175,684 $18,967,857
2018 $168,177,850 $24,414,864 $55,886,370 $46,070,530 $8,493,715 $0 $33,312,371
2017 $144,514,413 $25,046,047 $41,504,734 $36,709,768 $8,446,443 $0 $32,807,421
2016 $113,754,314 $20,206,022 $32,382,845 $36,140,389 $8,364,645 $0 $16,660,413
2015 $120,822,522 $26,169,018 $25,265,420 $49,576,951 $8,287,769 $0 $11,523,364
2014 $104,774,474 $25,550,753 $22,521,553 $40,493,922 $7,980,366 $0 $8,227,880
2013 $91,382,441 $20,302,766 $18,894,097 $36,775,949 $7,859,734 $0 $7,549,895
2012 $100,049,444 $20,379,815 $31,000,624 $36,511,620 $7,778,861 $0 $4,378,524
2011 $78,575,788 $17,980,170 $19,302,120 $27,432,139 $7,528,006 $0 $6,333,353
2010 $74,402,269 $15,775,516 $23,245,513 $25,882,320 $6,919,449 $350,000 $2,229,471
2009 $74,417,324 $18,260,626 $25,572,654 $25,722,130 $6,772,105 $700,000 $0
2008 $73,458,494 $13,393,780 $25,190,569 $24,348,076 $6,590,629 $0 $3,935,440
2007 $77,257,845 $15,279,152 $22,751,726 $21,719,651 $6,066,563 $350,000 $11,090,753
2006 $67,012,792 $13,260,770 $16,053,230 $19,523,617 $6,011,806 $350,000 $11,813,369
2005 $56,576,933 $12,709,321 $16,414,490 $17,166,315 $4,796,773 $0 $5,490,034

INCOME NOTES

2018

The athletics department transferred $1,625,000 to the school.

2017

This amount takes into account $1,000,000 that the athletics department transferred back to the school and - under a 2015 change in the NCAA’s reporting system - is recorded as a revenue loss. This transfer amount cannot exceed the sum of money the department received from student fees and direct institutional support: $8,446,443. The athletics department also transferred an additional $2,625,000 to the school.

2016

This amount takes into account $1,000,000 that the athletics department transferred back to the school and - under a 2015 change in the NCAA’s reporting system - is recorded as a revenue loss. This transfer amount cannot exceed the sum of money the department received from student fees and direct institutional support: $8,364,645. The athletics department also transferred an additional $2,625,000 to the school.

2015

This amount takes into account $1,214,730 that the athletics department transferred back to the school and - under a 2015 change in the NCAA’s reporting system - is recorded as a revenue loss. This transfer amount cannot exceed the sum of money the department received from student fees and direct institutional support: $8,287,769. The athletics department also transferred an additional $2,625,000 to the school.

FSU Expenses and Expenses Sources: 2005-2022

Year Total Expenses Coaching / Staff Scholarships Facilities / Overhead Other
Year Total Expenses Coaching / Staff Scholarships Facilities / Overhead Other
2022 $150,777,734 $48,440,782 $10,789,646 $32,927,715 $58,619,591
2020 $155,656,855 $45,991,553 $11,503,697 $32,185,808 $65,975,797
2019 $150,147,316 $44,252,516 $11,302,805 $35,321,411 $59,270,584
2018 $158,375,459 $49,474,814 $11,427,894 $20,679,724 $76,793,027
2017 $143,373,261 $41,983,202 $11,332,262 $23,432,312 $66,625,485
2016 $115,631,800 $41,430,333 $10,145,242 $17,354,148 $46,702,077
2015 $111,386,681 $37,286,280 $9,163,936 $14,173,463 $50,763,002
2014 $98,866,182 $32,748,373 $9,471,927 $13,786,951 $42,858,931
2013 $84,772,759 $27,239,537 $9,544,912 $11,912,214 $36,076,096
2012 $90,278,878 $27,504,602 $9,542,715 $15,549,350 $37,682,211
2011 $86,949,804 $25,655,272 $9,031,720 $20,860,106 $31,402,706
2010 $75,209,181 $23,062,574 $7,730,141 $11,011,395 $33,405,071
2009 $78,528,151 $23,771,401 $8,389,805 $11,795,192 $34,571,753
2008 $65,583,105 $20,548,461 $7,794,848 $12,602,476 $24,637,320
2007 $67,843,586 $17,961,615 $7,695,315 $12,385,397 $29,801,259
2006 $59,512,089 $16,545,618 $7,079,069 $11,636,771 $24,250,631
2005 $56,412,748 $15,161,784 $6,557,793 $13,480,109 $21,213,062

USA Today Sports also took a look at some of the numbers surrounding conference revenue, showcasing just how much the SEC and Big 10 are outpacing everybody else by — public schools in those conferences combined for more than $2 billion in operating revenue during their 2022 fiscal years:

Using median values for their schools’ revenues, rather than the averages, the conferences ranked in the following order:

SEC: $159.1 million

Big Ten: $150.1 million

ACC: $134.4 million

Pac-12: $117 million

Big 12: $110.7 million

Going based on revenue actually generated by athletics departments, which includes conference and NCAA revenue shares, the medians change — and the gaps grow:

SEC: $159 million, with a range of $203 million for Alabama, to $110.7 million for Mississippi State.

Big Ten: $147.1 million, with a range of $251.6 million for Ohio State, to $85.6 million for Rutgers.

ACC: $125.2 million, with a range of $151.9 million for Clemson, to $94.8 million for Georgia Tech.

Big 12: $106.9 million, with a range of $239.3 million for Texas, to $91.4 million for Oklahoma State.

Pac-12: $96.9 million. The top amount was $153 million for Oregon, which reported that total included nearly $13.1 million in the form of a one-time, non-cash gift: a video board that was part of a massive overhaul of the Hayward Field track and field complex, which hosted the 2022 track and field world championship. The lowest amount was $69.7 million for Washington State.

Mississippi State, the SEC’s lowest revenue generator, was at least $8.5 million ahead of every Pac-12 public school except Oregon and Washington.

Here’s the full top 25 from 2022:

No. 1 Ohio State Buckeyes: $251 million

No. 2 Texas Longhorns: $239 million

No. 3 Alabama Crimson Tide: $214 million

No. 4 Michigan Wolverines: $210 million

No. 5 Georgia Bulldogs: $203 million

No. 6 LSU Tigers: $199 million

No. 7 Texas A&M Aggies: $193 million

No. 8 Florida Gators: $190 million

No. 9 Penn State Nittany Lions: $181 million

No. 10 Oklahoma Sooners: $177 million

No. 11 Auburn Tigers: $174 million

No. 12 Michigan State Spartans: $172 million

No. 13 Indiana Hoosiers: $166 million

No. 14 Virginia Cavaliers: $161.9 million

No. 15 Florida State Seminoles: $161.1 million

No. 16 Kentucky Wildcats: $159 million

No. 17 Clemson Tigers: $158 million

No. 18 Tennessee Volunteers: $154 million

No. 19 Oregon Ducks: $153 million

No. 20 Arkansas Razorbacks: $152 million

No. 21 Iowa Hawkeyes: $151 million

No. 22 Wisconsin Badgers: $150 million

No. 23 Louisville Cardinals: $146 million

No. 24 Illinois Fighting Illini: $145.7 million

No. 25 Washington Huskies: $145.1 million

Our first entry into our offseason Mount Rushmore series came to a close yesterday with the revelation of Florida State’s quarterback honorees: Heisman winners Charlie Ward, Chris Weinke and Jameis Winston and in a bit of an upset, 2023 Heisman contender Jordan Travis. Travis, who is just 11 touchdowns away from becoming FSU’s all-time touchdown leader, edged out Casey Weldon for the final spot.

Look at Ontaria “Pokey” Wilson making some moves with the Los Angeles Charges at minicamp:

Baseball

Softball

A quick update on some Florida State Seminoles softball summer league moves from both current and former players:

Reigning ACC Pitcher of the Year Kathryn Sandercock and 2021 ACC Defensive Player of the Year Sydney Sherrill are participating in the US Women’s Fast Pitch Camp in Vero Beach. The camp is an opportunity to showcase their skills for the USA Softball Women’s National Team Selection Committee, which is choosing rosters to represent Team USA at the Japan All-Star Series in August and the Pan American Games held in Santiago, Chile, this November. Florida State is one of eight collegiate programs nationally, and the only one from the ACC, with multiple representatives selected for the camp.

Jessie Warren, the Most Outstanding Player of the 2018 WCWS, is in her fourth season playing professionally with Athletes Unlimited. She is currently on Team Zerkle, which began its season Monday evening with a 9-7 victory as Warren contributed one run scored to the win.

Four former FSU players are part of the Women’s Professional Fastpitch league that also begins play this week. Elizabeth Mason, a member of the 2018 WCWS All-Tournament Team, is on the Texas Smoke roster as are 2023 WFP Draft selections Sandercock and two-time All-ACC performer Mack Leonard. Sherrill is on the Oklahoma City Spark roster.

All-ACC pitchers Caylan Arnold and Danielle Watson represent FSU on the Florida Vibe. That program began its 2023 schedule last week and has played five games so far. Arnold has registered a team-leading eight strikeouts and is holding opponents to a .250 batting average in 6.2 innings pitched.

All Sports

Florida State golfers Charlotte Heath and Lottie Woad have earned All-American honors from Golfweek:

Heath is now a consensus First-team All-American as she earned the top honor from both the Women’s Golf Coaches Association, while Woad was selected a First-Team All-American by the WGCA and a Second-Team All-American by Golfweek.

Both Heath and Woad earned All-ACC honors – Heath for third time and Woad for the first time in their careers. Heath was also a finalist for the ANNIKA Award as the National Player of the Year while Woad was selected as both the ACC Freshman of the Year and the National Freshman of the Year (co).

Heath is one of nine players in the nation—and one of only two from the ACC, who was selected as a First-Team All-American by both the WGCA and Golfweek this season. She finished the 2023 season with a career-low and team-leading 70.56 stroke average, her first career individual win, and with eight top-10 finishes in Florida State’s 11 matches during the fall and spring events.

Heath is a five-time All-American selection (Honorable Mention by Golfweek in 2021 and 2022, Honorable Mention by the WGCA in 2022, and First-Team by the WGCA and Golfweek in 2023). She is also a three-time All-ACC selection (2021, 2022, 2023).

Woad, only a freshman, earned All-American First-Team honors by the WGCA and Second-Team honors by Golfweek, All-ACC honors, All-NCAA Raleigh Regional Honors, and was ACC and National Freshman of the Year (co) as she completed her first collegiate season as one of the most decorated players in the nation.

Woad finished with a 71.06 stroke average (fourth-best in school history for a single season), won two individual championships and finished in the top-10 of the individual standings in 10 of 11 events. She tied the school-record with her low round score of 65 in the first round of the Schooner Fall Classic.

Florida State and Wake Forest are the only two ACC teams with multiple players who earned All-American First or Second team honors.

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