Athletics are touted as bringing in revenue. But these facts show that poorly managed athletic programs, raised above academics, brings disaster. The athletics sink hole at WSU is gobbling up almost 100 million dollars. This money is going into somebody's pocket, and is bleeding state funds that should go to support the state's adjunct faculty.
SPOKANE, Wash. - Officials for Washington State University say the athletics budget will no longer be accruing annual deficits in five years, but it will take longer to pay off a budget hole estimated to grow to $85.1 million.
The school said Thursday that new Athletic Director Pat Chun and Chief Budget Officer Joan King will present the plan to the Board of Regents on Friday.
The athletics department will focus first on getting its budget balanced, then build up reserves and finally repay the accumulated deficit.
It relies on increasing revenue 27 percent while continuing to contain expenses. The debt is expected to reach $85.1 million by fiscal 2022. By 2023, the school says yearly athletic budgets would be balanced.
Much of the debt is connected to new facilities, while television revenues and donations were lower than expected.