“Burning money like a bonfire on a windy night” Just like Ohio State, who just threw everything at this natty and came out as champions, but at what cost? They’re now in a massive $38 million hole with nothing left to reload. Plus, making it stranger, when the Bucks lost to Michigan, fans called for Ryan Day’s firing, his buyout then being $37 million. Yes, you read that right. And now, that’s exactly what they need just to break even. Jesus Christ, the irony could light up the entire Big Ten.
Well, it looks like the $20 million investment cost big time to Ohio State. No offense, but the situation is pretty dire. The situation leaves them with no options to reshape their team. While other teams may be making changes during the offseason, Ohio State cannot afford to fire or hire anyone. But for Ryan Day it might be good news because he is safe too. As insider Luke Robinson says, “Ohio State, I mean, they just ran roughshod over the entire College Football Playoff, and it comes out today they ran at a $38 million deficit. I don’t know if anybody can afford to fire anybody anymore.”
Even insider John Miller agreed to it, saying, “No, you can’t. That’s the thing. Timing is everything in life, and I think this season, the timing was off for a lot of those different candidates to possibly be fired.” But what’s the real deal behind it? Let’s get straight to the point. Ohio State’s athletic department recently revealed a staggering $38 million deficit for the fiscal year. The problem?
They went on a spending spree of $292.7 million, far exceeding their revenues of $254.9 million, which is a drop of $24.6 million compared to the previous year. So, while the team is celebrating their victory on the field, their finances are struggling to stay afloat off the field. It’s a classic case of winning but still getting burned in the process.
However, despite their willingness to splurge, the reality is harsh, as Ohio State is now in a bind. God knows how they managed to give Jim Knowles a $2.7 million offer. But for now, they cannot make any changes to their roster or coaching staff without making significant financial adjustments. As the offseason kicks off, it’ll be interesting to see how the Bucks navigate this financial tightrope.
What’s Ohio State’s plan for recovery?
“Winning cures all, but only until the bills arrive.” The same is the situation with Ohio State, which went on a massive spending spree that resulted in a national championship. Now they’re facing the consequences with a $38 million deficit. So, what’s the next step? That’s the big question. Sure, they achieved victory, but now they have to recover from their extravagant spending, and it will require more than just another title to fix this financial mess.
Interestingly, just last week, Ryan Brewer ranked Ohio State as the most valuable program in college football, with an astonishing valuation of $1.96 billion. But now? They’re practically broke and deeply in debt. The main blow came from ticket sales, which dropped from $73.4 million in 2023 to $58.8 million in 2024 due to two fewer home games—any guesses? Just 6, ouch. That kind of loss isn’t something you can just brush off, especially when you’ve already spent every dime chasing that title.
However, there is some hope. But what? Well, the College Football Playoff payout, along with victories over Tennessee, Oregon, Texas, and the national championship, will bring in some much-needed cash for the 2025 fiscal year. Even Bucks AD Ross Bjork remains optimistic, stating, “We will make sure we operate with a balanced budget moving forward.” But with the storm of NIL and the ever-changing landscape of college sports, can they keep up with their own financial reality?
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