It's been common knowledge for a while now that somehow, UofL has one of the most profitable basketball programs, and probably athletic programs, in the country. In terms of basketball only, a new Business Journal report shows that UofL is #2 in the country in basketball profitability (behind Duke) while Kentucky is #7. 7 is not a bad place to be, but I wonder why our basketball and gameday expenses are almost double what UofL's are?
To wit, UofL's basketball revenue is $25.9 million, with $9.1 million in basketball expenses and $1.5 million in gameday expenses, for a total annual profit of over $15 million per annum. Kentucky's revenue is $16.8 million, with $11.6 million in basketball expenses and $2.6 million in gameday expenses.
I just find it odd that our revenue is that much less and that our expenses are that much more in comparison to Louisville, given the fact that our venue is so much larger, as is our fanbase. I'm sure there are administrative and structural reasons for why that is, but does anyone really know the reason?