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re: Facilities Upgrades and Profit Numbers

Posted on 1/23/24 at 8:23 am to
Posted by jangalang
Member since Dec 2014
36904 posts
Posted on 1/23/24 at 8:23 am to
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 by jangalang
Member since Dec 2014
36904 posts
Posted on 1/23/24 at 8:25 am to
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 by allin2010
Auburn
Member since Aug 2011
18155 posts
Posted on 1/23/24 at 8:35 am to
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.
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