Adam Cairns/Columbus Dispatch
The Ohio State Buckeyes and Ryan Day are finally college football national champions after years of coming close only for it to end in heartache. But at what cost? By now, everybody has heard about the Buckeyes’ famed $20 million roster. But a new report from the Columbus Dispatch suggests that the championship came at a far, far greater cost than anyone imagined.
Dispatch reporter Joey Kaufman revealed Monday that the Ohio State athletic department operated with a staggering deficit of nearly $38 million in 2024.
“While last year’s budget impact is not ideal and there were unique circumstances at play, we have a robust expense and revenue plan that has been implemented and have made great progress in this ever-changing landscape of college athletics,” athletic director Ross Bjork said in a statement issued as part of a news release. “We will make sure we operate with a balanced budget moving forward.”
Ohio State’s Massive Athletic Department Deficit Is Due To Several Different Reasons
In the interest in the full disclosure, Ohio State sponsors 36 NCAA athletic programs. For comparison sake, Harvard University sponsors the most sports with 42. Sadly, however, Bjork has already found out how he plans to balance the budget. He revealed in August that he already plans to cut some of the 36 sponsored sports. Or, as he explained it, have them work in a model that is more similar to club sports.
This might also explain why the Buckeyes were hesitant to match a contract offer from Penn State to former OSU defensive coordinator Jim Knowles. Knowles is reportedly set to make north of $3 million with the Nittany Lions. But his family alleges the Buckeyes capped their offer at $2.75 million.
Bjork’s release stated that the university plans to dip into reserve funds in order to cover its deficit. Now, maybe the national championship eventually pays off financially. But in the short term, it looks like the Buckeyes took quite the hit to the wallet.