Connect with us

Utah

Why leaving the Pac-12 led to a deficit in Utah Athletics’ latest financial report

Published

on

Why leaving the Pac-12 led to a deficit in Utah Athletics’ latest financial report


This article was first published in the Ute Insiders newsletter. Sign up to receive the newsletter in your inbox each Wednesday night.

Utah Athletics had a budget deficit of $17 million, according to the school’s latest financial report.

For financial year 24, which ranges from July 1, 2023 through June 30, 2024, the Utah athletics department reported a $17,041,625 budget shortfall, the first deficit in quite a while.

The university posted record revenue of $115.7 million in FY22 and $126.3 million in FY23, but for FY24, Utah’s revenue shrank to $109.8 million.

Advertisement

In an addendum to the athletic department’s financial report, Utah wrote, “The University of Utah’s FY24 net margin of ($17M), as reported in the annual NCAA Revenues & Expenses Report, was driven primarily by external factors.”

Those external factors were the collapse of the Pac-12 Conference in the summer of 2023.

The collapse of the historic conference started with USC and UCLA leaving for the Big Ten in 2022. Then, the Big 12 beat the Pac-12 to the media rights punch, securing a nearly $2.3 billion media deal with ESPN and Fox that reportedly will pay out $31.6 million per year to each of its schools when it takes effect in 2025.

Pac-12 commissioner George Kliavkof had reportedly turned down a deal from ESPN that would have paid its schools $30 million each, per John Canzano, and after the Big 12’s deal with ESPN and Fox, TV networks were full with inventory from the Big 12, SEC, ACC and Big Ten, and weren’t going to pony up more for the depleted Pac-12 with no Los Angeles TV market.

The best deal the Pac-12 got was a $25 million per school offer from Apple — streaming only — per Canzano. Colorado left for the Big 12, followed by Washington and Oregon bolting to the Big Ten. Utah wasn’t far behind, joining the Big 12.

Advertisement

Oregon State and Washington State, the only two members left in the Pac-12, reached a settlement deal with the departing schools — approximately $5 million per school withheld from revenue distribution and another $1.5 million payment to the conference, per Sportico.

Utah reported a net $6,870,866 loss from conference distributions, which exclude media rights and football bowl revenue. In all, the university made $29,190,481 from the Pac-12 in FY25, which includes conference bowl game payouts and media rights.

Other expenditures that contributed to the deficit were legal fees resulting from the exit from the Pac-12 and overpayment of prior year television distributions, according to Utah (This year, the Pac-12 had to pay a combined $72 million to offset 10 years of Comcast overpayment to the league for the Pac-12 Networks, which meant a smaller distribution for schools.).

All told, Utah says that approximately 70% of the $17 million deficit (which was covered by “carry-forward” athletics reserves from prior years) can be “traced to the breakup of the Pac-12 Conference.” “Travel costs and a significant year-over-year increase in the University’s published cost of attendance were other major contributing and uncontrollable factors,” Utah wrote.

Utah says that “Key revenue performance indicators such as ticket sales, number of donors, and total donations (not all reflected in this report) improved year-over-year.”

Advertisement

While the Utes have been a full-revenue member from the beginning in the Big 12, that won’t be reflected in a public financial report until the FY25 report comes out.

In case you missed it

Ezra Ausar led the way for the Runnin’ Utes as they defeated rival BYU at the Hunstman Center in overtime. Ausar had a career-high 26-points in the victory. On Wednesday, the Utes were crushed by 34 points on the road at Houston.

From the archives

Extra points

  • 3 heroes who lifted Utah past BYU in a rivalry thriller (Deseret News)
  • 8 players with Utah ties are 1 win away from the Super Bowl (Deseret News)
  • A favorable schedule lies ahead. Will Utah women’s basketball recapture its winning ways this week? (Deseret News)



Source link

Utah

Utah Blanks Philadelphia, 3-0 | Utah Mammoth

Published

on

Utah Blanks Philadelphia, 3-0 | Utah Mammoth


Schmaltz’s 24 goals this season are a new career-high. He’s been a consistently strong presence and has taken on more responsibility with the switch from wing to center. His goal on the power play came just eight seconds into the man-advantage and opened the scoring early in the second period. In addition to his goal, he had an assist on Utah’s second goal of the game. Tourigny discussed Schmaltz’s maturity following the win.

“He’s a mature person, mature man,” Tourigny explained. “He really wants to make a difference. I always say about Schmaltz, (he’s) a gamer. He wants to play in those moments, and I think he’s excited about where our team is at, and he wants to be a big part of it, and he is. He’s a huge leader for us.”

Utah held Philadelphia to 16 total shots: four in the first period, seven in the second, and five in the third. The Mammoth showed their strong defensive game in the win.

“I think that’s when we’re at our best, when we’re defending hard,” Schmaltz said. “We’re playing with a lot of pace, not giving them time and space, frustrating them, and making them force plays, and then we turn it over and go the other way.”

Advertisement

On the flip side, against a stingy Philadelphia defense, Utah generated 23 shots including 14 in the second period. Schmaltz spoke to what led to the increased opportunities in the middle frame.

“A little bit more direct,” Schmaltz shared. “I think our transition game was really good. We were catching them, kind of hemming them in. Good line changes and just rolling them over and shooting a little bit more.”

In addition to Schmaltz’s goal, Captain Clayton Keller scored his 19th of the season seven and half minutes after his linemate’s tally to increase the score to 2-0. Michael Carcone’s empty net goal with 1:48 left in regulation secured the 3-0 win.

Additional Notes from Tonight (per Mammoth PR)

  • The Mammoth’s power play went 1-for-2 against the Flyers. Utah has scored seven power play goals in seven games (7-for-18, 38.9%). On the other side of special teams, the Mammoth’s penalty kill went 3-for-3.
  • JJ Peterka played his 300th NHL game. Peterka was selected 34th overall in the 2020 NHL Draft and is the ninth player from his draft class to reach the milestone. He is also just the eighth German-born forward in NHL history to accomplish the feat.
  • Keller has recorded 11 points in his last seven games (2/2-3/5: 3g, 8a), finding the scoresheet in six of those contests.
  • With two assists tonight, Dylan Guenther has posted his second straight multi-point outing (3/3 at WSH: 1g, 1a) and his third in five games (2/25 vs. COL: 2g).

Utah has won the first two games of a five-game road trip. Up next, the Mammoth travel to Columbus and face the Blue Jackets on Saturday night.

Upcoming Schedule

Advertisement



Source link

Continue Reading

Utah

22-year-old arrested in Utah in connection to Las Vegas double-homicide

Published

on

22-year-old arrested in Utah in connection to Las Vegas double-homicide


LAS VEGAS (FOX5) — Officials have identified a 22-year-old man as the suspect in a Las Vegas homicide case that killed two people in a Southern Highlands neighborhood.

Detectives say 22-year-old Ziaire Ham was the suspect in the case. According to officials, Ham was located on Tuesday, March 3, by the Ogden City Police Department and the Utah Highway Patrol.

Ham was taken into custody and booked into the Weber County Jail. Las Vegas authorities said he will be charged with open murder with the use of a deadly weapon and will be extradited back to the valley.

MORE ON FOX5: LVMPD corrections officer arrested on multiple felony charges

Advertisement

The shooting occurred Monday night at the 11000 block of Victoria Medici Street, near Starr Ave and Dean Martin Drive.

According to police, officers were conducting a vehicle stop in the area when they heard gunfire. After searching nearby neighborhoods they found a car with bullet impacts with a woman and a toddler inside suffering from gunshot wounds.

The pair were transported to hospital where they later died. The Clark County Coroner’s Office identified them as Danaijha Robinson, 20, and 1-year-old Nhalani Hiner.



Source link

Advertisement
Continue Reading

Utah

Utah nonprofit creates events, experiences for disadvantaged children

Published

on

Utah nonprofit creates events, experiences for disadvantaged children


A simple moment watching a child laugh changed everything for Ivan Gonzalez.

Eight years ago, Gonzalez was working at the Ronald McDonald House when he had an idea to throw a birthday carnival for the kids staying there.

“Let’s do a carnival, birthday carnival for the kids,” he said.

MORE | Pay It Forward

What happened during that event stuck with him.

Advertisement

“There I was watching this kid play whack-a-mole, just having a blast, laughing,” Gonzalez said. “And then I see his mom kind of with happy tears because he’s enjoying himself.”

That moment led to something bigger.

Gonzalez realized the experience shouldn’t stop with just one event or just one group of kids.

“I said, wait, we can do this not just for kids in the hospital,” he said with excitement.

So he started a nonprofit called Best Seat in the House, which creates events and experiences for children who often face difficult circumstances.

Advertisement

“We provide events and experiences for disadvantaged kids,” Gonzalez said.

The organization serves children battling cancer and other medical conditions, refugee children, kids living in poverty, those in foster care and children with special needs.

“These kids grow up too fast,” Gonzalez said.

For Gonzalez, the mission is deeply personal.

“I grew up very poor,” he said.

Advertisement

He remembers the people who stepped in for his family when they needed it most.

“The local church, we weren’t even a part of it,” he described. “My parents couldn’t afford Christmas gifts and I still remember the gifts they gave me. They didn’t even know me.”

Today, he hopes to create that same feeling for other children through his nonprofit.

“Kids live in poverty and they don’t know where the next meal is coming from, let alone going to a play or to a game,” Gonzalez said.

But for Gonzalez, the reward isn’t the events themselves, it’s the joy they create.

Advertisement

“You can give me a billion dollars, all the money in the world,” he says as tears roll down his face. “I won’t trade these opportunitieskids just enjoying life.”

Because of his work giving back, KUTV and Mountain America Credit Union surprised Gonzalez with a Pay it Forward gift to help him continue creating those moments for kids across Utah.

For more information on supporting Best Seat in the House, click here.

_____



Source link

Advertisement
Continue Reading
Advertisement

Trending