The Setup

Hello and thank you for spending a moment of your day with NILnomics. This week is going to be briefer than normal as this snowstorm and other life events are taking up too much time. But I wanted to give one quick look at Indiana’s title run in a way that I suspect not many others will give you. So stick with me as I explore the Hoosier’s climb (financially) to the (top?).

Let’s get into it.

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House Keeping

As promised, here is the link to the recording of the talk I gave at UNC Charlotte last week. I think it went well! If you want a copy of the slides, shoot me a message and I can get them to you.

I’m in the process of requesting each school’s annual financial records to update the finances dataset I use for a lot of my analysis. In the process, I always request a copy of the contract for the AD and head coaches of football, mens/womens basketball, and mens/womens ice hockey. Is that something anyone here would want to look at? I could post a link to my Google Drive if there’s enough interest. Reply to this email if you’re interested.

I’ve hit 400 subscribers! Thank you to all the new readers who’ve joined me on this journey of breaking down the finances of college athletics. On my way to 1,000 subscribers, I’m stopping intermittently to live stream a Q&A with readers. So please, email me some questions for a reader Q&A to celebrate 400 subscribers!

Quick Takeaways

Indiana’s Financial History, Visualized

At this point everyone is familiar with Indiana University's Cinderella run to the National Championship this season. While most analysis I've seen focuses on their place as the biggest all-time losing record (715 losses!), no one is looking at their finances other than to point to their famous billionaire patron. And no, I'm not denying that having a sugar daddy helps your chances in the current state of college football. But there's something to be said about Indiana's place in the financial hierarchy. That's what we're going to take a quick look at today.The Visual

The Visual

Quick Takeaways

  • Indiana is not (and has never been) the biggest spender in college athletics.

  • Yes, they are in the upper echelon. Yes, they are fully spending up to the $20.5 million revenue share cap.

  • The latest data is FY24, which was 3 years ago. From FY23 → FY24, there the athletic budget went from $139 million to $177 million, a 27% increase!

  • Keep in mind this is overall athletic spending. Football spending could be a whole other picture, particularly with Indiana where it’s safe to assume a disproportionate amount of their budget (among other football schools) went to men’s basketball.

  • I requested Indiana’s latest, FY25, financial data (along with every other school) last week. I’m still waiting for a response…

Community Spotlight

This section is for articles, podcasts, interviews, and any other college sports related content I found interesting this week. If you have something you’d like to share, shoot me an email and it may be featured.

🎧 The Varsity - when Charlie Baker speaks, I listen.

🎧 Trustees and Presidents - Karen talks with analysts from a credit rating agency that discusses the financial impact of athletics related scandals. Interesting stuff.

Post Game

Thanks for reading this week’s issue.

I’m so glad to see the top spenders lose. To see someone come out of nowhere to win it all. This is what makes college sports fun! Hopefully this week’s analysis brings that point home.

If you enjoyed this week’s issue, let me know by replying to this email.

Until next time,

Greg Chick, PhD
Data Analyst

Analyst’s Desk

This data comes straight from the Knight-Newhouse database using the ‘Total Expenses’ amount. Note the data isn’t adjusted for inflation.

NILnomics is an independent data-driven newsletter uncovering the real numbers behind college sports finances with sharp insights, clear visuals, and exclusive datasets. Please send any thoughts, questions, or feedback to me at [email protected] and please follow me on X @NILnomics. Don’t forget all our data is available on Kaggle, code on GitHub, and FOIA documents on GoogleDrive. See you next week!

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