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re: Facilities Upgrades and Profit Numbers
Posted on 1/23/24 at 8:23 am to slacker130
Posted on 1/23/24 at 8:23 am to slacker130
quote:
Auburn’s athletics department blasted past its previous record revenue set in the 2021-22 fiscal year by more than $20 million but did so with a significantly decreased profit and higher institutional support payments, according to a copy of Auburn’s 2022-23 revenues and expenses report obtained by AL.com in a public records request.
Auburn reported a total revenue of $195,301,922 in 2023, up from last year’s record $174,568,422.
The overall profit declined from the $22.9 million mark in the 2021-22 fiscal year to only $3.2 million last year. That comes after Auburn also operated at a record-high cost of $192 million in operating expenses.
Last year, Auburn saw a significant increase in severance payments, cutting into its previous record profit. That is largely because Auburn fired previous head coach Bryan Harsin one month into the 2022-23 fiscal year so payments owed to him were not factored into the previous year’s report.
Auburn owed $19.8 million in severance payments in 2022-23 compared to $8.2 million in the previous cycle.
Auburn reported it received $25 million in institutional support payments, a big increase from the $9.7 million in 2022.
Ticket sales actually decreased during the 2022-23 fiscal year despite record season ticket purchases for Jordan-Hare Stadium football games this year.
Part of the difference can be explained in the fiscal year not covering the entirety of the 2023 football season. The fiscal year runs from October 1, 2022, through Sept. 30, 2023. Thus the ticket sales include only the end of the 2022 season and the beginning of the 2023 campaign.
Auburn reported $32.3 million in ticket sales for 2023, down from $34.1. million. That decrease came almost entirely from football, which dropped from $30 million to $28.7 million.
This story will be updated.
Matt Cohen covers Auburn sports for AL.com.
Posted on 1/23/24 at 8:25 am to jangalang
quote:
One of the first things John Cohen noticed since he was hired as Auburn’s athletic director in late 2022 was the north endzone at Jordan-Hare Stadium and its antiquated scoreboard and layout.
He has long stated a goal of a wide-ranging construction project to update not just the scoreboard but to develop the entire end of the stadium into a space including far more premium options for fans — expanding on an already existing push for premium seating under Cohen’s tenure.
“I think one of the things, and this is long before John Cohen, but one of the things that we had to address in all of our facilities is a little bit of a lack of premium options,” Cohen said in a January sit-down with AL.com. “We’ve added some premium options in basketball, we’ve added some premium options in baseball. We’ve actually added a premium opportunity quite frankly at softball that we’re quite excited about. We’ve added some premium options over at football. We’re going to continue to enhance our premium options cause that’s what this fanbase demands.”
Cohen seems to be envisioning creating an experiential area on that end of the stadium with a plaza as well as suites, similar to several other recent projects across the country. Cohen said he and his staff traveled to and studied other school’s projects including at Arkansas, Florida State, Nebraska and Notre Dame.
While he was the athletic director at Mississippi State, Cohen oversaw a renovation of the north endzone at Davis-Wade Stadium. Though Cohen said he anticipates the Auburn project to be “more different than alike” to his previous experience.
For now, Cohen said the project is in a “dream phase,” and he does not have a budget or a timeline for completing the project. He said he and his staff are working on preparing a blueprint to present internally.
“What all of us are fighting is that living room, and the very comfortable chair, and the personal refrigerator,” Cohen said. “We’re fighting that. We’re asking fans to fill up their tank with gas. We’re asking them to make time that they sometimes don’t have and come experience Auburn University. In doing that, we have to make the environment as conducive and as enjoyable an opportunity as possible.”
Cohen said the north endzone project is one of a series of facilities updates and upgrades on his agenda. In large part, every project is still in the brainstorming phase and not much has been finalized.
That includes developing a plan to spread out congestion at Neville Arena between the three teams competing for practice space: men’s basketball, women’s basketball and volleyball.
The volleyball team, Cohen said, has practiced in three different places since he arrived at Auburn including the Student Activities Center. Head coach Brent Crouch’s team has made two consecutive NCAA Tournaments.
“Our volleyball team has needs that we have not yet met,” Cohen said.
Cohen is looking to create a “permanent” facility for volleyball. Exactly how that will come about is not clear.
He said he has spent a great deal of time thinking about uses for the essentially vacant Beard-Eaves Coliseum. Save for a small patch of office space, the athletics department does not use the building.
Cohen did not reveal exactly what his plans are for the building, whether that means re-purposing it or knocking it down entirely.
Matt Cohen covers Auburn sports for AL.com. You can follow him on X at @Matt_Cohen_ or email him at mcohen@al.com
Posted on 1/23/24 at 8:35 am to jangalang
quote:
Auburn reported it received $25 million in institutional support payments, a big increase from the $9.7 million in 2022.
That is a crazy number. The AD needs to be self sufficient.
Posted on 1/23/24 at 8:47 am to allin2010
For some reason I thought not only are we sufficient but we fund other sports.
Posted on 1/23/24 at 9:00 am to jangalang
quote:
One of the first things John Cohen noticed since he was hired as Auburn’s athletic director in late 2022 was the north endzone at Jordan-Hare Stadium and its antiquated scoreboard and layout.
Welcome to the past 20 years of being an Auburn fan, Cohen.
Posted on 1/23/24 at 9:03 am to jangalang
They didn’t account for only having 7 home games when we usually have 8.
We have nice stuff but we aint spending close to $200 million.
We have nice stuff but we aint spending close to $200 million.
Posted on 1/23/24 at 4:11 pm to CorchJay
The North end zone has a lot of faculty seating. Their going to put up a fight if they are pushed up into the upper deck.
Posted on 1/23/24 at 6:32 pm to Pauldingtiger
Who needs another Jumbotron so they won’t show a replay if it’s a bad play for the good guys? I want to know who to yell at!!
Not to mention it could be used on NIL..
Not to mention it could be used on NIL..
This post was edited on 1/23/24 at 6:33 pm
Posted on 1/26/24 at 9:01 am to GruntAu
Matt Cohen
@Matt_Cohen_
According to documents posted this evening to the Auburn Board of Trustees website, the BOT is set to vote to approve the Jordan-Hare Stadium north endzone videoboard/renovation at its Feb. 2 meeting.
@Matt_Cohen_
According to documents posted this evening to the Auburn Board of Trustees website, the BOT is set to vote to approve the Jordan-Hare Stadium north endzone videoboard/renovation at its Feb. 2 meeting.
Posted on 1/26/24 at 8:44 pm to aubiecat
Justin Hokanson
@_JHokanson
Follow
Bruce Pearl says in regards to football likely getting a new videoboard, "every decision" that AD John Cohen has made in terms of facilities, "I would do everything he's doing and the timeline he's doing."
Pearl has wanted a new basketball practice facility, but says, "we'll get to remodeling Neville, the practice facility situation. It's important. I'm very satisfied with John Cohen's plan."
@_JHokanson
Follow
Bruce Pearl says in regards to football likely getting a new videoboard, "every decision" that AD John Cohen has made in terms of facilities, "I would do everything he's doing and the timeline he's doing."
Pearl has wanted a new basketball practice facility, but says, "we'll get to remodeling Neville, the practice facility situation. It's important. I'm very satisfied with John Cohen's plan."
Posted on 1/27/24 at 1:33 pm to jangalang
If all they do is put a new video board on that side, I’m going to cry.
Posted on 1/28/24 at 6:02 am to GoCrazyAuburn
quote:
If all they do is put a new video board on that side, I’m going to cry.
No inside info but Better get your tissue ready. They visited Arkie and other places about a complete renovation, not sure it makes financial sense.
Posted on 2/2/24 at 11:28 am to allin2010
Jason Caldwell
@ITATJason
Huge news: Auburn BOT approves plan for new video board in north end zone at Jordan-Hare Stadium. A key part of this plan "will be for the supporting structure to be compatible with any future project that might occur in the north end zone."
This post was edited on 2/2/24 at 11:28 am
Posted on 2/2/24 at 11:35 am to GoCrazyAuburn
quote:
The renovation project my picture was from was estimated at $145M in 2017/18 ish I think. So, $160M is probably pretty accurate to what it would be now.
Standard rate of inflation, plus the ridiculous rise in construction costs post Covid, I wouldn't be surprised if it's over $200M now.
Posted on 2/2/24 at 11:43 am to jangalang
I’m up for any stadium upgrade because it’s been too long. Sure wish they could enhance the cosmetics in the north end zone. This is lipstick on piggish to me but again, glad we are doing something
Posted on 2/2/24 at 11:50 am to auburnnyc94
It will be impossible for us who suffer from A.D.D. to be able to pay attention to the ongoing game.
That said, when we're suffering through an unexplainable loss like Mew Mexico St. maybe they could just run a movie on one of the screens.
That said, when we're suffering through an unexplainable loss like Mew Mexico St. maybe they could just run a movie on one of the screens.
Posted on 2/2/24 at 11:54 am to aubiecat
quote:
It will be impossible for us who suffer from A.D.D. to be able to pay attention to the ongoing game
That said, when we're suffering through an unexplainable loss like Mew Mexico St. maybe they could just run a movie on one of the screens.
Tell the AD to get a YouTubeTV subscription, and throw the QuadBox of games on one of the screens. Problem solved.
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