Indiana Athletics Posts $10.4M Surplus in 2025, Fueled by Football Investment and Strategic Cuts
BLOOMINGTON - Indiana University’s athletic department closed the books on the 2025 fiscal year with a $10.4 million surplus, a notable turnaround fueled by shrewd financial moves, increased football investment, and a record-setting revenue haul across the board.
At the heart of IU’s financial picture: a football program that, despite a dip in overall revenue from the previous year, saw major gains in key areas like ticket sales and media rights. The school also made a significant financial commitment to the program, signaling a clear shift in priorities under new leadership.
Football Revenue Dips, But Targeted Investment Pays Off
Indiana football brought in $80.9 million in revenue during the 2025 fiscal year - down from $89.3 million the year before. But that number comes with some important context.
In 2024, IU directed $26 million toward the football program, with a substantial portion of that going toward Tom Allen’s buyout. That kind of direct institutional support didn’t exist in 2023, when football revenue sat at $61.6 million.
So while the top-line revenue number may have dipped, the program’s financial foundation actually grew stronger thanks to more targeted spending and better returns in key areas.
Ticket sales jumped by $2.7 million to $12.7 million - a sign that fans are re-engaging with the program. Media rights revenue spiked nearly $10 million to $47.1 million, a massive boost reflecting the broader surge in TV deals and streaming rights across college football. Meanwhile, sales from programs, concessions, parking, and team merchandise more than doubled to $3 million.
On the expense side, IU didn’t hold back. The school poured $10.1 million into Curt Cignetti’s new coaching staff and another $4.7 million into football support staff.
That’s a clear step up from Allen’s final year, when assistant coaching salaries totaled $7.8 million and support staff costs came in at $2.8 million. The message is clear: Indiana is investing to compete.
Athletic Department Hits Record $183.4M in Revenue
Zooming out, the entire athletic department posted a record $183.4 million in revenue - up $10 million from the previous year and nearly $40 million from 2023. Even more impressive, expenses dropped slightly to $173 million from $176.6 million a year ago.
That kind of financial efficiency is rare in college athletics, where rising costs often outpace revenue growth. But IU managed to buck that trend by tightening its belt in key areas while still funding competitive programs.
Ticket sales across all sports brought in $29.5 million. Contributions from donors added another $25.8 million.
But the biggest moneymaker continues to be media rights, which generated $62.8 million - a $15 million increase over the past two years. Conference distributions for postseason revenue also climbed to $10.6 million, up from $8.3 million in 2024.
Basketball Revenue Surges, Thanks to Institutional Support
Indiana men’s basketball reported $51.1 million in revenue - a massive jump from $31 million the year before. But a big chunk of that increase came from $18 million in direct institutional support, a move that mirrors what the football program received in 2024 to help cover coaching turnover.
That kind of backing shows that IU is willing to put its money where its mouth is when it comes to its marquee programs. And with both football and basketball undergoing leadership transitions, the university clearly prioritized stability and competitiveness over short-term savings.
Strategic Cuts Help Balance the Books
IU’s ability to post a surplus wasn’t just about increased revenue - it was also about trimming fat in the right places.
The department cut more than $5 million in support staff, administrative spending, benefits, and bonuses. Severance payments also dropped significantly, from $22.1 million in 2024 to $8.5 million in 2025 - a reflection of fewer major contract terminations compared to the year prior.
Those savings helped offset rising costs in other areas, including $2.4 million in game expenses and a $1.2 million increase in student-athlete meals. It’s a balancing act, but one that IU managed effectively.
Revenue Sharing Still Largely Focused on Football
While the NCAA financial report didn’t break down how IU allocated its $20.5 million in revenue-sharing funds, athletic director Scott Dolson has previously said that 70-75% would be directed toward football, with 18% earmarked for men’s basketball.
That distribution underscores the department’s strategic focus: football is the engine, and IU is making sure it’s fueled up for the long haul.
The Bottom Line
Indiana’s 2025 fiscal year tells a story of a department that’s learning how to spend smarter while still swinging big. With record revenues, targeted investments in football and basketball, and a renewed focus on financial efficiency, IU is positioning itself to be more than just competitive - it’s aiming to be sustainable at the highest level of college athletics.