Report: Tennessee athletic department operated at hefty surplus during 2016-17 fiscal year
The Tennessee Volunteers may not have had a great year in their big money sports in 2016-17, but that didn’t stop the athletic department from operating at a big surplus.
In fact, the surplus reached eight digits, according to documents obtained by KnoxNews.com.
The report states that the Vols’ athletic department brought in more than $10 million in profit during the 2016-17 fiscal year:
Tennessee operated at a $10.8 million surplus during the 2016-17 fiscal year that ended June 30, according to UT’s annual revenue and expense report submitted to the NCAA and obtained via an open-records request.
According to the report, the Vols are going to use $5 million of that money to help renovate Neyland Stadium.
The rest will go to other projects around the university. Even as the football team struggled mightily this fiscal year, it’s likely that the Vols will turn another profit.