The Washington Huskies football program will be looking to win their first college football national title on Monday night. However, even with a win, the university’s athletic program has made some decisions recently that cost them millions last year, this year, and in years to come.
Monday night will be a high point for the Washington Huskies football program and the school. With the college football world and much of the nation watching, they will face off with Michigan as they seek to earn the school’s first major national championship. The game is the culmination of a lot of hard work for many of the team’s staff.
However, this moment in the sun won’t come without hardships for the school. While the university is raking in big bucks due to the star turn of Heisman Trophy finalist Michael Penix Jr. and his teammates, via ticket sales and a boom in merchandise revenue, that still won’t make up for the millions in losses they posted last year. And it’s a number that will nearly double in 2024.
Washington Huskies football is part of a department that will lose over $7 million in 2024
In a Monday newsletter, Front Office Sports took an in-depth look at the growing profile of the Huskies as the school is set to take their sports teams to the Big Ten in 2024. However, despite the positivity at the moment, the athletic department posted $5.8 million in losses for 2023. Part of those massive losses are severance payments to fired former Washington Huskies football coach Jimmy Lake.
Unfortunately, the outlet claims the losses are expected to jump to $7.8 million this year. The growing debt is reportedly part of why the school — as well as nine other universities — are exiting the PAC-12 this year and are headed to the Big Ten or Big Twelve.
Yet even when Washington is in the Big 10 they won’t get the same financial benefits as schools like Ohio State or their opponents on Monday night, Michigan. “Washington also remains below the Big Ten’s elite in numerous metrics, such as ticket sales and donations, and the school is entering its new conference with a half-share of annual media rights. UW won’t earn full shares until 2030,” the outlet reported.
While they could be college football national champions on Tuesday morning, the Washington athletic department has a lot of money to make up in the coming years.