In fiscal year 2025, Appalachian State University (APP)'s Football program reported $9.9M in revenue and $15.7M in expenses, for a net deficit of $5.8M. The program generated $9.9M in total revenue, led by Ticket Sales at $5.9M. Among the 78 FBS programs reporting Football data, Appalachian State University ranks 57th overall in total expenses (15th of 36 Group of Five programs) — below the FBS average of $36.5M. Appalachian State University competes in the Sun Belt; financial data is available from FY2021 through FY2025.
| Category | Amount |
|---|---|
| Ticket Sales | $5,909,334 |
| Guarantees | $1,855,761 |
| Program, Novelty, Parking and Concession Sales | $1,304,035 |
| Contributions | $661,983 |
| In-Kind | $130,206 |
| Athletics Restricted Endowment and Investments Income | $57,401 |
| Other Operating Revenue | $4,282 |
| Category | Amount |
|---|---|
| Coaching Salaries, Benefits and Bonuses paid by the University and Related Entities | $3,500,474 |
| Athletic Student Aid | $2,634,007 |
| Support Staff/Administrative Compensation, Benefits and Bonuses paid by the University and Related Entities | $1,781,079 |
| Sports Equipment, Uniforms and Supplies | $1,635,531 |
| Student-Athlete Meals (non-travel) | $1,475,699 |
| Game Expenses | $1,184,205 |
| Team Travel | $1,030,114 |
| Severance Payments | $823,602 |
| Recruiting | $659,423 |
| Guarantees | $300,000 |
| Fund Raising, Marketing and Promotion | $218,314 |
| Enhanced Educational Benefits (Alston or other) | $143,657 |
| Other Operating Expenses | $119,673 |
| Direct Overhead and Administrative Expenses | $103,941 |
| Medical Expenses and Insurance | $39,418 |
| Facilities Maintenance and Operations | $9,844 |
| Spirit Groups | $9,622 |
| Memberships and Dues | $4,950 |
| Fiscal Year | Revenue | Expenses | Net |
|---|---|---|---|
| FY2025 | $9,923,002 | $15,673,553 | -$5.8M |
| FY2024 | $10,480,103 | $16,206,106 | -$5.7M |
| FY2023 | $10,160,685 | $13,616,432 | -$3.5M |
| FY2022 | $8,565,136 | $11,995,591 | -$3.4M |
| FY2021 | $1,652,900 | $9,785,359 | -$8.1M |
Appalachian State's football program generated $9.9 million in revenue in FY2025, driven primarily by ticket sales at $5.9 million, while expenses of $15.7 million — led by coaching salaries at $3.5 million — produced a $5.8 million deficit. At 57th out of 78 FBS programs by expenses, the Mountaineers operate at a fraction of the $36.5 million FBS average, ranking 16th among the 37 Group of Five schools. Program expenses have grown significantly over the past five years, rising from $9.8 million in FY2021 to $15.7
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