The cost of college athletics is rising, but at the University of Virginia these expenses are matched by rising revenues. The school is bringing in more than it's shelling out - collecting more than $81 million last year.
UVA, unlike other state schools like Virginia Tech and Virginia Commonwealth University, uses $0 in school funds to support the athletics program. That means it mostly relies on a combination of ticket sales, donations, licensing, and student fees to support it.
Luckily for the program, it's bringing in more than it's spending, with a $5.4 million revenue surplus last year.
UVA saw contributions drop to a three-year low in 2012, but made up for that loss thanks to the ACC's new deal with ESPN, which brought in $6 million in new licensing revenues.
College athletics are a big part of the student experience at UVA, and students are paying for it too. Virginia athletics collected over $13 million in student fees in 2012 - that's almost twice Virginia Tech's $7 million in student fees, but still less than the $16 million students at VCU paid.
The amount students pay for sports at UVA and Virginia Tech has remained relatively constant during the past five years. Meanwhile, VCU's student fees have shot up more than 64 percent since 2008.
Ed joined the NBC29 news team in May, 2011. A Charlotte, NC, native, he graduated from the University of North Carolina at Chapel Hill with degrees in journalism and political science.Full Story
Ed joined the NBC29 news team in May, 2011. A Charlotte, NC, native, he graduated from the University of North Carolina at Chapel Hill with degrees in journalism and political science. Email/Follow on Twitter/ Full Story
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Friday, March 7 2014 4:54 PM EST2014-03-07 21:54:30 GMT
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