According to financial documents obtained by The Greenville News, the South Carolina athletics generated $31 million from football in the 2024 fiscal year but still ended with a slight financial loss. South Carolina athletics department had an operating revenue of $183.4 million and expenses of $183.6 million for the fiscal year, resulting in a $194,175 deficit. This follows a history of financial ups and downs, including a $3.7 million deficit in 2022 and an $11 million shortfall in 2021.
Gamecock football remained the department’s biggest moneymaker, bringing in $78.5 million in revenue while spending $47.6 million. Key revenue sources included $19.8 million in ticket sales, $15.4 million in media rights, and $5.2 million in parking and concessions. Despite a disappointing 5-7 season in 2023, football revenue increased by $5 million from the previous year.
In basketball, the men’s team turned a $3.48 million profit, earning $13.3 million in revenue with $9.8 million in expenses. Women’s basketball, however, operated at a $5.7 million deficit, generating $5.8 million but spending $11.5 million.
Contributions to USC athletics decreased in 2024, dropping from $34.6 million to $33.8 million. While football and men’s basketball saw increases in donations, non-program-specific contributions fell by nearly $4.4 million, and women’s basketball donations declined slightly.
Despite financial challenges, South Carolina athletics continues to rely on football revenue as its primary driver while seeking ways to balance expenses across all programs.