Ole Miss Athletics Cuts Deficit, Football Leads the Charge in 2025 Financials
Ole Miss athletics is still operating in the red, but the numbers are trending in the right direction - and football is the engine driving that momentum. In fiscal year 2025, which ran from July 1, 2024, to June 30, 2025, the Rebels' athletic department posted a deficit of just over $5.1 million. That’s a significant improvement from the previous year, trimming about $2.6 million off the shortfall.
The department brought in $178.6 million in total operating revenue while spending $183.7 million. It’s not quite a balanced budget, but it’s a step closer - and the football program deserves a hefty share of the credit.
Football Delivers a $28.8 Million Profit
Ole Miss football turned a $28.8 million profit in FY2025, a $10.7 million jump from the prior year. That kind of leap doesn’t happen by accident. It’s the result of a winning season, strong fan engagement, and the financial muscle of the SEC.
The Rebels went 10-3 under Lane Kiffin, capped off with a Gator Bowl victory. On the field, Jaxson Dart led the charge. Off the field, the program saw major gains across key revenue streams.
Ticket sales rose from $17.9 million to $21.8 million - a clear sign that fans showed up and showed out. Contributions to the football program also surged, climbing from $20.3 million to $24.3 million. And perhaps most notably, the SEC’s bowl revenue distribution gave Ole Miss a significant boost, jumping from $10.6 million to $15.2 million.
Athletic Department Contributions Smash Expectations
Donor support wasn’t just strong for football - it was strong across the board. Contributions to Ole Miss athletics totaled $47.1 million in FY2025, up $9.1 million from the previous year. That figure blew past the goal set by athletic director Keith Carter, who had hoped for a $4 million increase.
That kind of donor engagement is a key indicator of a healthy program. It’s not just about what’s happening on Saturdays in the fall - it’s about a community of supporters buying into the long-term vision.
Where the Money Came From - and Went
The bulk of the department’s revenue came from four main sources:
- Media rights: $49.6 million
- Contributions: $47.1 million
- Ticket sales: $26.5 million
- SEC bowl revenue distribution: $15.2 million
On the expense side, the biggest line items were:
- Coaching salaries, benefits, and bonuses: $38.4 million
- Support staff and administrative compensation: $27.7 million
- Fundraising, marketing, and promotion: $17.9 million
That last category - fundraising, marketing, and promotion - saw a notable increase. Ole Miss spent $13.2 million more in that area compared to FY2024, signaling a push to grow the brand and elevate the program’s visibility.
Beyond Football: Basketball and Other Sports
While football was a financial powerhouse, other sports didn’t fare as well. Men’s basketball operated at a deficit of $928,000, while women’s basketball posted a $7.4 million loss. Other sports combined for an $18.3 million deficit.
That’s not unusual in college athletics - football often subsidizes the rest. Still, it underscores the importance of keeping the football program not just competitive, but elite. When football thrives, the entire department benefits.
What’s Not in the Report - Yet
It’s worth noting that some of the most lucrative moments of the 2025 calendar year happened after the fiscal year ended - and therefore aren’t reflected in these numbers.
Ole Miss secured a field sponsorship deal with Aflac for the home game against Florida on Nov. 15, with the brand’s logo painted onto the turf at Vaught-Hemingway Stadium. That kind of activation doesn’t just bring in dollars - it elevates the program’s national profile.
And then there’s the College Football Playoff run. Ole Miss hosted a first-round CFP game and advanced to the semifinals - a historic postseason push that brought in sellout crowds and substantial SEC payouts. Under the league’s hybrid revenue model, teams that advance further earn a larger share, and Ole Miss was one of just four schools to host a first-round game at home.
According to Forbes, the SEC pays out $3 million for each team in the first round, $3.5 million for the quarterfinals, and $3.75 million for the semifinals. Those figures aren’t part of the FY2025 report - but they’ll show up in next year’s books, and they could push Ole Miss into the black for the first time since 2021.
The Bottom Line
Ole Miss athletics is still operating at a deficit, but the gap is shrinking - and football is doing the heavy lifting. With a strong season on the field, increased donor support, and rising ticket sales, the Rebels are trending in the right direction.
And with the financial impact of the College Football Playoff run still to come, the 2026 fiscal year could be a turning point. The road to profitability isn’t easy in college athletics, but Ole Miss is proving that with the right mix of performance, passion, and support, it’s a road worth traveling.