In fiscal year 2025, Michigan State University (MSU)'s Ice Hockey program reported $5.0M in revenue and $9.1M in expenses, for a net deficit of $4.1M. The program generated $5.0M in total revenue, led by Ticket Sales at $2.1M. Among the 11 FBS programs reporting Ice Hockey data, Michigan State University ranks 4th overall in total expenses (4th of 6 Power Four programs) — above the FBS average of $7.4M. Michigan State University competes in the Big Ten; financial data is available from FY2017 through FY2025.
| Category | Amount |
|---|---|
| Ticket Sales | $2,119,385 |
| Contributions | $1,822,938 |
| Guarantees | $290,877 |
| Sports Camp Revenues | $256,152 |
| Program, Novelty, Parking and Concession Sales | $132,632 |
| Conference Distributions (Non Media and Non Football Bowl) | $75,000 |
| Other Operating Revenue | $67,995 |
| NCAA Distributions | $66,186 |
| Royalties, Licensing, Advertisement and Sponsorships | $56,493 |
| In-Kind | $46,556 |
| Athletics Restricted Endowment and Investments Income | $35,472 |
| Category | Amount |
|---|---|
| Athletic Facilities Debt Service, Leases and Rental Fee | $2,477,656 |
| Coaching Salaries, Benefits and Bonuses paid by the University and Related Entities | $1,849,538 |
| Athletic Student Aid | $1,227,453 |
| Team Travel | $667,212 |
| Sports Equipment, Uniforms and Supplies | $508,209 |
| Other Operating Expenses | $465,318 |
| Support Staff/Administrative Compensation, Benefits and Bonuses paid by the University and Related Entities | $447,401 |
| Game Expenses | $395,945 |
| Student-Athlete Meals (non-travel) | $330,682 |
| Direct Overhead and Administrative Expenses | $136,597 |
| Recruiting | $110,310 |
| Enhanced Educational Benefits (Alston or other) | $104,000 |
| Facilities Maintenance and Operations | $81,627 |
| NCAA Post-Season Non-Football Expenses | $76,563 |
| NCAA Post-Season Non-Football Expenses - Coaching Compensation/Bonuses | $69,878 |
| Sports Camp Expenses | $66,436 |
| Fund Raising, Marketing and Promotion | $54,318 |
| Guarantees | $31,000 |
| Medical Expenses and Insurance | $7,006 |
| Memberships and Dues | $1,949 |
| Fiscal Year | Revenue | Expenses | Net |
|---|---|---|---|
| FY2025 | $4,969,686 | $9,109,098 | -$4.1M |
| FY2024 | $4,283,758 | $9,378,079 | -$5.1M |
| FY2023 | $4,157,470 | $7,267,872 | -$3.1M |
| FY2022 | $4,471,214 | $6,815,301 | -$2.3M |
| FY2021 | $3,429,135 | $5,973,877 | -$2.5M |
| FY2020 | $4,751,236 | $8,068,207 | -$3.3M |
Michigan State's ice hockey program operates at a $4.1M deficit, with $9.1M in expenses significantly outpacing $5.0M in revenue, driven largely by $2.5M in athletic facilities debt service, leases, and rental fees. The program ranks 4th in expenses among the 11 FBS schools sponsoring ice hockey and sits above the $7.4M FBS average, reflecting a sustained investment in the sport as expenses have climbed from $6.8M in FY2022 to current levels despite a slight dip from FY2024's $9.4M. Ticket sales represent the program's strongest revenue lever at $2.1M
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