The athletic department expects to make $6.5 million of it’s projected $89.2 million total revenue in basketball ticket sales for the 2014-15 fiscal year, according to the UA Department of Athletics budget summary.
Ticket sales from Razorback football games are expected to be $27 million and concessions and merchandise sales are expected to bring in an additional $2 million while men’s basketball is expected to bring in $6.45 million, and women’s basketball is expected to bring in $65,000.
The revenue covers sports and administration expenses in the athletic department, said Byron Hatch, associate athletic director for business.
Last year, the gross ticket sales for the men’s basketball team was $6.5 million and the gross ticket sales for the women’s basketball team was $60,000, Hatch said.
Students bought over 10,000 access passes last year at $85 a pass. A percentage of the revenue goes to the Associated Student Government to support their initiatives, Hatch said.
Total concessions sales last year for men’s basketball was $446,000. The athletic department received $186,000 as commission revenue, Hatch said.
This reflects a 9.6 percent increase from last year’s projection of $80.6 million, and a 15.2 percent increase from the projection of $75.6 million for the 2012-12 school year, according to the Arkansas Business website.
In the 2012-13 fiscal year, which ended June 30, 2013, the athletics department created nearly $72 million in revenue, according to the annual UA financial report.
This revenue is turned back into the athletic department to pay for the expenditures of other sports, in addition to covering expenses for facilities, airplane operations, training and weight rooms, various offices and band support, along with other departments.
The men’s basketball team is budgeted to spend $7.1 million for the 2014-15 year. The women’s basketball team is budgeted to spend $3.3 million. In comparison, the football program is expected to spend $21.4 million, according to the athletic budget.
The men’s tennis team receives the least amount of money with just a little more than $700,000.
The athletic department spends the most money on the football, basketball and track and field programs, according to the athletic budget.