Penn State Intercollegiate Athletics is bringing in the big bucks.
Penn State athletics recently filed its 2016-17 NCAA annual Financial Report. In fiscal year 2017, Penn State athletics generated $144,017,055 in net revenues, with expenses totaling $138,724,055 — making a profit of about $5.3 million. All of which are up from last fiscal year.
“Penn State Athletics continues to be a strong, self-supporting unit, boosted by new and increasing revenue streams during fiscal 2017, while remaining attentive to rising expenses in many areas,” Sandy Barbour, Penn State’s athletic director, said in a press release. “During the past year, we’ve continued to see strong and encouraging indicators, including ticketing, sponsorships and licensing, and additional revenue in other areas, that have brought us closer to a sense of normalcy, in conjunction with our efforts to closely manage expenses.