The Daily Orange delved into the financials over at SU Athletics and saw just how important a surprise windfall of Maryland exit fee money will be.
The Daily Orange has a piece up detailing how the Maryland Terrapins' move to the Big Ten might help Syracuse Orange Athletics get into the red this year.
The gist is, SU owes the Big East $7.5M for leaving the conference, an amount that required SU Athletics to work out a deal with the University for a ten-year payment plan. Then, Maryland bailed on the ACC and ended up handing over $31M before they did thanks to a little foresight on the conference's part. That money got split between the members and that means SU received an extra $1.2M unexpectedly. That makes it much easier for SU Athletics to pay it's part of the Big East exit fee and get itself closer to getting out of financial deficit.
As the D.O. points out, SU Athletics had roughly $72M in expenses in 2014 and brought in $87M in revenue. Meanwhile, the athletics budget for 2015 is set at $60M, not including $9M in Carrier Dome expenditures.
Worth noting that the D.O. also points how just much revenue Football ($38.5M) and Men's & Women's Basketball ($31.5M) generated in 2014. All other sports generated $15.5M combined. Not shocking, but, always interesting to see the numbers laid out flat.
