Tennessee Volunteers sports achieves a significant milestone in revenue.
In a historic development for the university, the Tennessee Athletics Department achieved a record-breaking revenue milestone, surpassing the $200 million mark for the first time in its history. The recently submitted annual financial report to the NCAA revealed this remarkable achievement.
This extraordinary increase in revenue was primarily attributed to unprecedented levels of self-generated income within Tennessee Athletics. Notably, ticket sales experienced a substantial surge, rising by over 13 percent from $35.1 million in FY 2022 to $39.7 million in FY 2023. Additionally, contributions witnessed an unprecedented growth of more than 90 percent, soaring from $32.7 million in FY 2022 to an impressive $62.2 million in FY 2023.
Concessions and parking also underwent a significant upswing, showing an 83 percent increase ($12.2 million) compared to the previous year. Furthermore, royalties, licensing, and sponsorships contributed to the financial success, marking a notable 34 percent growth ($23.9 million) over the course of the last 12 months.
This new revenue milestone for Tennessee Athletics aligns with a period of unparalleled success in athletics over the past year.
