We examined the profitability of Division I athletic programs at colleges and universities in the United States under a variety of accounting definitions of profit. The data identified several broad themes. First, a majority of athletic departments relied heavily on direct and indirect subsidization of their programs by the student body, the institution itself, and state governments in order to balance their books. Without such funding, less than one-third of Bowl Championship Series (BCS) athletic departments and none of the non-BCS departments were in the black. Second, athletic programs...Read more
