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CHAPEL HILL, N.C. — The University of North Carolina at Chapel Hill’s athletic department reported a record $139.4 million in total operating revenue during the 2022-23 fiscal year, which represents a substantial 13.7% increase year-over-year.
The school’s annual financial report to the NCAA, which includes data from July 1, 2022, through June 30, 2023, details the operating revenue as well as shedding light on a record $139.1 million in total operating expenses. The athletic department reported a total net revenue of $273,587.
UNC’s total operating revenue has increased by $37.5 million over the past two fiscal year cycles. Total revenue outpaced operating expenses for the second consecutive year after three years of negative net revenue.
Media rights continued to represent the largest revenue input, climbing six percent to $33.3 million. The ACC’s full distribution totaled $42 million, while the NCAA’s distribution from its men’s and women’s basketball tournaments held steady at $4 million.
UNC’s contributions continued its upward trend with a five percent year-over-year increase to $20.8 million. The athletic department has reported $78.5 million in contributions over its past three fiscal cycles, dating back to the COVID-19 impacted 2020-21 year.
Royalties, licensing, advertisements and sponsorships jumped once again to $16.4 million, representing a 28% increase from its $12.8 million input in 2021-22, while student fees made up $7.9 million in revenue.
UNC paid out $28.7 million in coaching salaries, benefits and bonuses and $25.1 million in support staff and administration compensation, which does not include $3.7 million in severance payments. The coaching salary figure represents a 13% increase from $25.4 million in 2021-22.
The athletic department paid out $17.9 million in football-related compensation, including $13 million in coaching salary, benefits and bonuses.
Athletically-related student aid totaled $15.3 million. Team travel ($12.5 million), sports equipment and supplies ($5 million), game ($5.8 million) and recruiting ($3 million) were other notable expense categories. Direct overhead and administrative expenses came in at $14.6 million, representing a 33% increase year-over-year, and other operating expenses totaled $7.3 million.
The football program received $2.9 million for its Holiday Bowl game appearance in San Diego and reported bowl game expenses of $2.8 million, thereby netting $37,538.
UNC’s 28 sports – 13 men’s and 15 women’s – continued to be sustained by the football and men’s basketball programs. Those two sports generated 71 percent of the total revenue and operated at a $43.7 million net revenue in 2022-23, which was a $1.7 million increase from the year prior. The 26 non-revenue sports operated at a $23.6 million deficit, led by women’s basketball (net loss of $4.8 million) and baseball (net loss of $1.8 million).
The football team finished with $67.3 in total operating revenue and a surplus of $22.8 million, while the men’s basketball team added $31.7 million in total operating revenue and a surplus of $21 million.
UNC also reported $108.2 million in total athletics related debt and $483.7 million in athletics dedicated endowments.
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