Razorback athletics revenue up nearly 10% in FY2023 to $167.3M

by Paul Gatling (pgatling@nwabj.com)

The University of Arkansas athletics department set a record in operating revenue in the 2023 fiscal year by generating $167.3 million.

The UA reported $166.5 million in athletic department expenses — also an all-time high — for an operating surplus of less than $1 million.

The figures are from the university’s annual financial report to the NCAA. Fort Smith-based Landmark PLC conducts the annual audit. The 2023 fiscal year began July 1, 2022, and ended June 30, 2023.

The athletics department’s revenues continue a rapid climb. The UA reported $152.51 million in revenue in FY 2022, and $132.2 in FY 2021 revenue. Expenses are also skyrocketing. In the past two fiscal years, the department’s spending totaled $144.3 million (FY 2022) and $111.5 million (FY 2021).

Razorback athletics revenue up nearly 10% in FY2023 to $167.3M