Washington State University's athletics department currently has a budget deficit of $67 million. Cal-Berkeley's department is similarly in serious debt, as are those of many other Power Five institutions.
Where it might get interesting is that the debt faced by the schools is not an effect of declining revenues. The truth is that the heavy borrowing engaged in by them is occurring amid a record dollar inflow. As USA Today reported last week, athletic departments at Power Five conference schools are making “more money than ever.” That they are paradoxically explains why their deficits are so high.
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