The South Carolina athletics department generated $31 million from football in the 2024 fiscal year but still faced a slight financial loss, ending with a $194,175 deficit. The department had an operating revenue of $183.4 million and expenses of $183.6 million for the fiscal year. Gamecock football remained the biggest moneymaker, bringing in $78.5 million in revenue while spending $47.6 million. Key revenue sources included ticket sales, media rights, and parking and concessions. Despite a disappointing 5-7 season in 2023, football revenue increased by $5 million from the previous year.
On the other hand, the men’s basketball team turned a $3.48 million profit, while the women’s team operated at a $5.7 million deficit. Contributions to USC athletics decreased in 2024, dropping from $34.6 million to $33.8 million. While football and men’s basketball saw increases in donations, non-program-specific contributions fell by nearly $4.4 million, and women’s basketball donations declined slightly.
Despite financial challenges, South Carolina athletics continues to rely on football revenue as its primary driver while working on balancing expenses across all programs. The department has a history of financial ups and downs, including deficits in previous years. The financial documents obtained by The Greenville News shed light on the financial situation of the athletics department and its ongoing efforts to improve its financial stability.
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