How Ole Miss athletics lost $5M in fiscal 2025 despite football increasing revenue by $10M

Ole Miss athletics improved on its bottom line in fiscal year 2025 but still operated at a deficit.

Losses totaled $5,147,021 in fiscal year 2025 – July 1, 2024 to June 30, 2025 – according to documents obtained by the Clarion Ledger.

It’s an improvement of approximately $2.6 million from where Ole Miss was in fiscal year 2024.

Ole Miss athletics most recently turned a profit in 2021, when it had approximately $17 million in excess thanks in large part to an advance on expected SEC TV revenue.

Ole Miss’ total operating revenue was $178,621,017. Most of that came from media rights ($49.6 million), contributions ($47.1 million), ticket sales ($26.5 million) and conference distribution of football bowl generated revenue ($15.2 million).

Total expenses were $183,768,038. The biggest expenses were coaching salaries, benefits and bonuses ($38.4 million), support staff/administrative compensation ($27.7 million) and fundraising, marketing and promotion ($17.9 million).

Ole Miss spent $13.2 million more on fundraising, marketing and promotion than in fiscal 2024.

Ole Miss football made $28.8 million. Men’s basketball operated at an $928,000 deficit, women’s basketball had a deficit of $7.4 million and other sports lost $18.3 million.

Athletic director Keith Carter declined comment on Feb. 4 about Ole Miss’ 2025 fiscal year.

Why Ole Miss football saw $10 million bump in profit

The 2025 fiscal year is a snapshot of the 2024 football season. Ole Miss went 10-3 under coach Lane Kiffin, and quarterback Jaxson Dart and finished the year with a Gator Bowl win.

Ole Miss football’s $28.8 million in profit was approximately $10.7 million more than in fiscal year 2024.

SEC-distributed revenue from bowl games was the biggest growth area for Ole Miss football. The SEC distributes revenue across the league based on the league’s bowl appearances. It jumped from $10.6 million in 2024 to $15.2 million

An increase in contributions also explain Ole Miss football’s revenue increase. Donations to the football program jumped from $20.3 million to $24.3 million.

Ticket sales jumped from $17.9 million to $21.8 million.

Ole Miss athletics contributions up $9 million

When speaking to the Clarion Ledger after the 2024 fiscal year, Carter said he was hopeful the university could increase contributions by $4 million in fiscal 2025.

The school’s donors did that and more. Contributions for the 2025 were $47.1 million. That is a $9.1 increase from the 2024 fiscal year.

Ole Miss football’s CFP not part of fiscal year 2025

Some of the most apparent revenue generators for Ole Miss athletics in 2025 came after the end of the fiscal year and are not factored into the report.

Ole Miss football secured a field sponsorship with Aflac for the Rebels’ home game against Florida on Nov. 15. The logo was painted onto the field at Vaught-Hemingway Stadium.

The Rebels’ run to the semifinals in the 2025 College Football Playoff was also was not included. Because the SEC has a hybrid payout model for its bowl revenue distribution, the teams that do the winning get a larger share of the conference payout.

Ole Miss was one of four schools to get a first-round home CFP game. It did not have to pay for travel, but got to reap the benefits of a sellout in Vaught-Hemingway Stadium.

According to Forbes, the SEC pays out $3 million for each team participating in a first-round game, an additional $3.5 million for participating in the quarterfinals and another $3.75 million for participating in the semifinals.

Sam Hutchens covers Ole Miss for the Clarion Ledger. Email him at Shutchens@gannett.com or reach him on X at @Sam_Hutchens_

This article originally appeared on Mississippi Clarion Ledger: Ole Miss athletics lost $5M despite football making $10M more in 2024