The Rutgers University Athletics department is bringing in more money than ever as part of the Big Ten conference, but it’s also spending even more to keep up with the competition.
According to NJ Advance Media, the university’s 2023 fiscal report submitted to the NCAA shows Rutgers spent a record $153 million for the last fiscal year, which was close to an 11% bump from the previous year. The budget has more than doubled since Rutgers first joined the Big Ten, with the biggest expense in coaching salaries.
The athletic department also set a record for revenue with more than $125 million last year, thanks in large part to revenue from Big Ten media rights. Still, the athletic department overall is running a deficit of $54 million, according to the report.
