Michigan’s football program has never been hurting for money, but now the Wolverines are outright swimming in it.
The maize and blue held a board meeting yesterday, during which the group that runs the university was updated on the financial prognosis of the Wolverines’ athletics department. Spoiler alert: it’s good.
According to a copy of the report obtained by Detroit News reporter Angelique Chengelis, Michigan expects its Big Ten contributions to spike from $36.3 million in 2016-17 to $51.1 million in 2017-18. The jump is possible thanks to the Big Ten’s new 6-year TV deal that brings Fox into the fold, which kicks in this year.
Michigan will also see its “other” revenues grow from $7 million to $12.8 million, made possible by a neutral site kickoff game at AT&T Stadium opposite Florida.
As a result, Michigan’s total revenue will grow to $182.4 million, while expenses will magically rise to $180.4 million.