How much UGA athletics proposed FY 2024 budget rises after another Georgia football title

Georgia’s athletic board next week will be asked to approve a fiscal year 2024 budget that rises about seven percent.

No exact figures were presented during a meeting via Zoom of the board’s finance committee on Monday morning which recommended the budget be approved, but that figure would be about $173.6 million, up from $162.2 million for fiscal year 2023.

Revenue increases include higher given levels for the Hartman Fund for football season tickets after back-to-back national championships under coach Kirby Smart and “donors vying for position during the seat selection process,” said Stephanie Ransom, Georgia athletics’ deputy director of finance.

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Other boosts to the revenue include premium seating contributions for new “press club” level seating that will be available for the 2024 season after a new press box is constructed as part of the $68.5 million in stadium renovations.

Georgia is expecting “a 40 percent increase,” in men’s basketball revenue entering the second season under coach Mike White. His team increased its win total by 10 during a 16-16 season.

“This is a reflection for the interest and enthusiasm for the men’s basketball program,” Ransom said.

Georgia is projecting about $2 million more in sponsorships, licensing and product endorsement which Ransom said is driven by going from six home football games last year to seven in 2023. Licensing trends project increases due to another football national title.

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There’s also a new revenue guarantee model for Georgia athletics' secondary ticket market provider.

No total figures were provided during the meeting on the expense side either.

It will take into account cost of living adjustment for all UGA employees.

Staff benefits will go up about $1.1 million, Ransom said.

“The budget reflects we’ve been impacted just like everybody else by inflation,” she said. “There are increases across travel, nutrition, utility, plant operations, facility maintenance and squad travel and other areas.

Said Ryan Nesbit, UGA’s vice president for finance and administration and the board’s treasurer: “I’ve shared some of the inflationary pressures that we’re facing on the university side that obviously impacts the Athletic Association with health insurance,  with utilities. We’re just seeing unprecedented increases in some of those cost pressures.”

Georgia’s athletic budget rose a year ago by nearly 8 percent entering fiscal year 2023.

The full board meets May 24-26 in Greensboro.