Utah
Why leaving the Pac-12 led to a deficit in Utah Athletics’ latest financial report
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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.
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.
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.”
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)
Utah
Utah drivers rethink budgets as gas prices jump
SALT LAKE CITY — When Kimberly L. pulled up to the gas pump on Sunday, she was unfortunately prepared for the prices that awaited her.
“Between my husband’s truck and my car, we’re well over $300 a month in gas,” she said. “It hits your pocket, and we’ve got a one-working-person household of four, so we’ve had to budget differently.”
This is one of the reasons why she was driving a motorcycle.
“I’m actually probably going to be riding this a lot more often. Gets way better gas mileage than any of our vehicles,” she added.
According to AAA, as of Sunday, average gas prices in Utah were around $3.16 compared to $2.74 the week prior.
“I went to go get gas the other day, and I spent $10 on two and a half gallons of gas. And it was insane,” said Grace Wieland from Park City. “Most of my activities are down in Salt Lake, so it’s hard to come down here every week and do the things I love to do whenever gas is so expensive.”
“At work, I make around $18 an hour, and that’s not even a full tank. It’s like two hours at work is one tank, which is kind of crazy,” said Addison Lowe, who is also from Park City.
According to Gas Buddy, the rising prices come after the U.S.-Israeli attacks on Iran, impacting ships that carry large amounts of oil that pass through the Straight of Hormuz, a key trade route.
“Gas prices likely continue advancing, oil prices will likely keep climbing until that oil can move again,” said petroleum analyst Patrick De Haan.
AAA said the last time the national average made a similar jump was in March of 2022 during the Russia/Ukraine conflict.
In the meantime, Utahns told FOX 13 News that they will continue to budget and hope prices go down sooner rather than later.
Utah
Utah midterms are set: Here’s where all the Republican incumbents are running
SALT LAKE CITY — Utah Reps. Celeste Maloy and Mike Kennedy made their reelection bids official this week, announcing they will run for the new 3rd District and 4th District, respectively, under the state’s newly established congressional map.
The plans were first reported by the Deseret News after weeks of discussion among the Utah delegation about how to approach the November elections under the new boundaries. Rep. Blake Moore, R-Utah, will file in the new 2nd District, where he’s already begun gathering signatures.
“The conversations all along have been: What’s the best thing we can do to stand up for Utah, to stand up for representative government, to make sure that what’s happening is constitutional,” Maloy told the Deseret News in an interview. “But now that we’re out of options — we have to file to run next week — I’m going to run in the district that I’ve spent my adult life living in.”
The decisions come after Rep. Burgess Owens announced on Wednesday that he would not seek reelection, paving the way for Maloy and Kennedy to each choose one of the two remaining districts and avoid a messy incumbent-on-incumbent primary.
The new map reduced Republicans’ stronghold of four House seats down to three with one Democratic seat, sending the delegation into a scramble about who should run where in the new political landscape.
The redrawn boundaries especially complicated Maloy’s and Kennedy’s decisions as their two districts shifted significantly. Under the new lines, the pair both live in the new 3rd District.
But with Owens’ retirement leaving the new 4th District open, it gives room for Kennedy to run there, which leans Republican.
Kennedy to run in Utah’s 4th District
Kennedy highlighted his work in and representation of parts of the 4th District in his official announcement on Thursday.
“I’ve spent more than twenty years practicing medicine in communities throughout the Fourth District and ten years serving many of these communities in the Utah State Legislature,” Kennedy said. “I know these communities, I share their values, and I’m ready to keep fighting for Utah families in Congress.”
Kennedy and Maloy both praised Owens as he gets ready to exit Congress.
“(Owens) just did the ultimate team-player move, and people here don’t do that,” Maloy said. “I hate that this is a choice that he had to make this year, that he was forced to decide that. I have nothing but love and respect for him and how he makes his choices. … He does what’s best for the team every time, and I think he’s proving that with this decision as well.”
Kennedy said it was an “honor” to serve with Owens in Congress, adding he was “grateful for his service and his friendship.”
The reelection decisions bring an end to the monthslong game of musical chairs that garnered national attention as Democrats were given a rare pickup opportunity in the red state of Utah and the four GOP incumbents were squeezed into three seats.
Owens was long rumored to be considering a departure from public office at the end of 2026, but the Utah delegation kept its cards close to its chest until the new Utah district was solidified.
The delegation has engaged in talks with one another for months on how to proceed, with several of the incumbents telling the Deseret News that those conversations centered around what would be the best fit for the constituents in the new districts.
Still, Utah Republicans did not go down without a fight. Owens was one of two Republicans in the delegation, along with Maloy, to ask the federal courts to block the new Utah map from taking effect because it was selected by a Utah judge, not the legislature, but that request was denied.
Even with the cleared field, Maloy and Kennedy could still face primary challengers from elsewhere in the state. Republican candidates have said they will file in both the 3rd District, David Harris and Phil Lyman, and the 4th District, Stone Fonua.
Two Republican candidates have declared bids in the heavily Democratic 1st District in Salt Lake County: Riley Owen and Dave Robinson.
Candidate filings for federal races open next week and will be available from March 9-13. Primary elections will be held on June 23.
Maloy is gathering signatures to qualify for the ballot, she told the Deseret News. Since making her reelection news public, Maloy has gotten several calls from constituents back home to volunteer for signature-gathering efforts.
The Key Takeaways for this article were generated with the assistance of large language models and reviewed by our editorial team. The article, itself, is solely human-written.
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