University of Iowa Athletics expects to break revenue records in upcoming year

The University of Iowa and Iowa State University athletic departments are both expecting increases in revenue in fiscal year 2025. (Photo via University of Iowa Facilities Management)

The University of Iowa is expecting another record-breaking year for its athletics department while Iowa State University Athletics is working to handle changes to expected revenues as a result of collegiate athletic conferences shifting, university budget documents show.

With revenues slated to increase in football, women’s basketball, wrestling and volleyball, among other areas, the UI is projecting a total income of more than $150 million for fiscal year 2025, just over a 7% increase from last year.

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According to budgets submitted to the Iowa Board of Regents, which are set to be discussed at the board’s meeting next week, Hawkeye Football ticket revenue should increase this fall due to “a favorable home schedule and price adjustments,” and budgeted income for women’s basketball went from $1.3 million to $1.65 million in fiscal year 2025 because of “additional guarantees received for away contests.”

The university athletics department saw record-breaking revenue last fiscal year as well, prompted by soaring popularity in the women’s basketball team. Iowa women’s wrestling is projected to make $80,000 in fiscal year 2025.

Renegotiated television contracts from the Big Ten Conference will give athletic conference revenue at the UI a $13.4 million bump from the $61.8 million the university saw last year.

ISU Athletics is expecting to earn around $114.2 million in revenue for fiscal year 2025, $2.7 million more than the fiscal year 2024 budget. Cyclone Football is also expecting increased ticket sales due to an additional home game, and the athletic department is also planning to see increased ticket sales for women’s basketball and wrestling. The biggest bump is expected to come from women’s basketball, with the budget line increasing from $450,000 to $700,000.

However, with changes to collegiate athletics conferences and tournaments, ISU Athletics has put certain projects on hold and “is continuing to make operational and personnel changes as necessary,” according to the budget document.

With four universities added to the Big 12 Conference as of July 1, ISU and the other continuing  conference members will receive $40 million less in Big 12 contributions through fiscal year 2031 than what was previously expected, according to the regents document.

Also impacting the ISU athletic department’s budget is the College Football Playoff expansion, which makes it so playoff revenues aren’t equally distributed among the different conferences, according to the document.

“With two athletic conferences essentially receiving the contractual increases in television revenue resulting from the new playoff format, the revenue allocations to members of the Big 12 conference will remain flat,” the document stated. “The financial impact of this change is approximately $5M per year (through FY 2031) when compared to earlier projections.”

The University of Northern Iowa, the only state university to provide support to its athletics department, is also the only university to expect a decrease in revenue for its athletics this upcoming fiscal year. According to the budget document, athletics revenue is projected to fall from around $14.8 million to just under $14.7 million.

As with previous years, UNI men’s basketball doesn’t have game guaranteed revenue to include in the budget yet.

“Sports income for football includes game guarantee revenue resulting in a budgeted revenue increase when compared to the FY 2024 budget,” the budget document stated. “Conversely, men’s basketball has no game guaranteed revenue on the schedule at this time.”

The university will also see a more than $1 million reduction in revenue from marketing due to its new contract with sports marketing company Learfield. The UI will only see a $150,000 decrease in its income from the contract it holds with Learfield, according to the document.

UNI will allocate $3.26 million in operational support, $1.28 million in scholarship funding and $485,000 for “one-time support,” according to the regent document.

The university included an almost $100,000 increase in income from UNI football, but decreases in other men’s and women’s sports.

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