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Ohio State reports athletics budget deficit of nearly $38 million from 2024 fiscal year
Ohio State paid $28.5 million to coach Ryan Day and 10 primary assistants during the last fiscal year. Their compensation had been $21.8 million during the 2023 fiscal year.
The Buckeyes made a splashy hire last February by plucking Chip Kelly out of UCLA. As offensive coordinator, Kelly was one of two assistants making at least $2 million.
Gene Smith, who was the athletic director before Bjork took over for him, acknowledged he went “berserk” with the budget to help push football toward the top of the sport, approving the rise in spending.
The Buckeyes won a national championship last week with a win over Notre Dame in the CFP final.
Since USA TODAY Sports began tracking NCAA financial reports in 2005, Ohio State’s total expenses were the second-highest by a Division I athletic department, surpassing the high from the previous year when they spent $274.9 million, but less than $325 million Texas reported in spending later Monday.
Ohio State is likely to exceed $300 million in spending in the coming years as it begins to share revenues with athletes, the result of a settlement of three multibillion-dollar antitrust cases against the NCAA and the major conferences.
If a federal judge gives final approval to the settlement in April, schools would be permitted to share around $22 million with athletes beginning next fall.
Ohio State has been planning to pay the maximum total to athletes.
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