South Carolina athletics reported a $1.3 million surplus in fiscal year 2025, despite a $10.1 million drop in football profits. This marks the largest surplus since 2019.
Key points
South Carolina athletics made $1.3 million surplus in fiscal year 2025
Football program profits dropped by $10.1 million
Largest surplus since 2019
Total revenue was $204,566,524
Total expenses were $203,259,302
Mentioned in this story
South Carolina athletics
How South Carolina athletics made money despite football profit dropping $10M
COLUMBIA — South Carolina athletics had its biggest surplus in six years, making $1.3 million in fiscal year 2025 even though the football program's profit dropped by $10.1 million.
It was South Carolina's largest surplus since 2019, when the athletics department made $3.8 million.
According to documents obtained by The Greenville News, South Carolina's financial report shows total revenue of $204,566,524 and total expenses of $203,259,302 in fiscal year 2025, which runs from July 1, 2024 to June 30, 2025.
In fiscal year 2024, South Carolina athletics lost $194,175.
In fiscal year 2025, athletics spent $19.6 million more than 2024 but had $21.1 million more in revenue.
University of South Carolina football renovations on March 6, 2026, to Williams-Brice Stadium, a three-phase, $350 million renovation project titled "Williams-Brice Reimagined," which began immediately following the final 2025 home game.
University of South Carolina football renovations on March 6, 2026, to Williams-Brice Stadium, a three-phase, $350 million renovation project titled "Williams-Brice Reimagined," which began immediately following the final 2025 home game.
Q&A
What was South Carolina athletics' surplus in fiscal year 2025?
South Carolina athletics had a surplus of $1.3 million in fiscal year 2025.
How much did South Carolina's football program profits drop?
The football program's profits dropped by $10.1 million.
What were the total revenues and expenses for South Carolina athletics in 2025?
Total revenues were $204,566,524 and total expenses were $203,259,302.
When does South Carolina's fiscal year run?
South Carolina's fiscal year runs from July 1, 2024, to June 30, 2025.
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University of South Carolina football renovations March 6, 2026, to Williams-Brice Stadium, a three-phase, $350 million renovation project titled "Williams-Brice Reimagined," which began immediately following the final 2025 home game.
University of South Carolina football renovations March 6, 2026, to Williams-Brice Stadium, a three-phase, $350 million renovation project titled "Williams-Brice Reimagined," which began immediately following the final 2025 home game.
University of South Carolina football renovations on March 6, 2026, to Williams-Brice Stadium, a three-phase, $350 million renovation project titled "Williams-Brice Reimagined," which began immediately following the final 2025 home game.
1 / 5
South Carolina football stadium construction, see Williams-Brice renovations in progress
University of South Carolina football renovations on March 6, 2026, to Williams-Brice Stadium, a three-phase, $350 million renovation project titled "Williams-Brice Reimagined," which began immediately following the final 2025 home game.
1 / 5
South Carolina football stadium construction, see Williams-Brice renovations in progress
University of South Carolina football renovations on March 6, 2026, to Williams-Brice Stadium, a three-phase, $350 million renovation project titled "Williams-Brice Reimagined," which began immediately following the final 2025 home game.
2 / 5
South Carolina football stadium construction, see Williams-Brice renovations in progress
University of South Carolina football renovations on March 6, 2026, to Williams-Brice Stadium, a three-phase, $350 million renovation project titled "Williams-Brice Reimagined," which began immediately following the final 2025 home game.
3 / 5
South Carolina football stadium construction, see Williams-Brice renovations in progress
University of South Carolina football renovations March 6, 2026, to Williams-Brice Stadium, a three-phase, $350 million renovation project titled "Williams-Brice Reimagined," which began immediately following the final 2025 home game.
4 / 5
South Carolina football stadium construction, see Williams-Brice renovations in progress
University of South Carolina football renovations March 6, 2026, to Williams-Brice Stadium, a three-phase, $350 million renovation project titled "Williams-Brice Reimagined," which began immediately following the final 2025 home game.
5 / 5
South Carolina football stadium construction, see Williams-Brice renovations in progress
University of South Carolina football renovations on March 6, 2026, to Williams-Brice Stadium, a three-phase, $350 million renovation project titled "Williams-Brice Reimagined," which began immediately following the final 2025 home game.
South Carolina's athletic department had a surplus of $69,238 in 2023 and deficits of $3.7 million in 2022, $11 million in 2021 and $765,306 in 2020.
South Carolina athletics gets $16M increase from university
A large reason why South Carolina ended with a surplus rather than a deficit was the direct institutional support, which is money given to the athletics department from the university.
In 2025, there was $42.5 million given in direct institutional support, a $16 million increase from the $26.5 million in 2024.
Athletic director Jeremiah Donati started in December 2024, inheriting the budget midway through the fiscal year.
Donati was asked during a South Carolina Senate hearing on Feb. 25 for the reason behind a large change in direct institutional support.
"(The $42.5 million) includes $29.3 million of operational support. The biggest reason for the jump was the transition from the old NIL period," Donati said. "The Gamecock Club, despite having a record year fundraising of over $50 million, the contributions back to the university were down so we anticipated this. This was prior to my time at South Carolina but this was anticipated, this would be a year of transition so this was forecasted."
Donati was also asked what he anticipates the university's direct institutional support will be for fiscal year 2026.
"We anticipated a rise this year but we believe it will be less next year. It's difficult to forecast but we feel very strongly about that, that it will be less next year in FY26 than the past year in FY25," Donati said.
Revenue from media rights, ticket sales increase
Aside from the money given to the athletic department from the university, the athletic department saw increased revenue in other categories.
This year's largest revenue producer was $44 million in media rights, an increase from $37.8 million. The athletic department also made just over $2.5 million more in ticket sales at $33.3 million.
Revenue from program, novelty, parking and concession sales increased from $7.9 million to $10.3 million.
What South Carolina spent more money on in 2025
The categories with the biggest changes in spending were $5.2 million more on coaching salaries, benefits and bonuses paid by the university, $3.7 million more on bonuses and benefits for support staff and $1.8 million more on guarantees.
Game expenses increased by $1.1 million and uniform and equipment spending increased by $789,890.
South Carolina football profit drops $10.1 million
The South Carolina football program's profit was $10.1 million less than the year before.
Football had $76.5 million in revenue and spent $55.8 million for a profit of $20.7 million in fiscal year 2025, which included the 2024 season. That is coach Shane Beamer's best season so far when the Gamecocks went 9-4.
Football had $78.4 million in revenue and spent $47.6 million for a profit of $30.8 million in fiscal year 2024, which included the 2023 season when the Gamecocks went 5-7.
The biggest differences in spending were $2.5 million more on coaching salaries and $2.4 million more on postseason football expenses, which weren't a factor in fiscal year 2024 since the Gamecocks didn't make a bowl game.
Another increase in spending was $1.8 million more on guarantees.
South Carolina women's, men's basketball numbers
Coach Dawn Staley's women's basketball program's deficit grew by $600,00 even though the team had $1 million more in revenue. This covered the 2024-25 season when South Carolina lost in the national championship game to UConn.
The program made $6.8 million but spent $13.1 million in fiscal year 2025 for a deficit of $6.3 million. The women's team had revenue of $5.8 million the previous year and spent $11.5 million for a deficit of $5.7 million.
Coach Lamont Paris' men's basketball team's profit grew by $800,000, going from $3.5 million in 2024 to $4.3 million in 2025. The men's team went 12-20 overall in the 2024-25 season and 2-16 in SEC play.
The program made $15.4 million with $11 million in expenses in fiscal year 2025, compared to $13.3 million in revenue with $9.8 million in expenses in 2024.
Women's basketball made $2 million in ticket sales, $50,461 more than men's basketball, but the men made $6.8 million in media rights, a category that doesn't apply to women's basketball.
The rise in spending for women's basketball included $486,324 more for coaching salaries.
On Jan. 17, 2025, Staley became the highest-paid college women’s basketball coach in the history of the sport. She's receiving an annual salary of $4 million with a $250,000 increase every season and a $500,000 signing bonus that makes the total value approximately $25.25 million.
Women's basketball also spent $108,504 more on recruiting.
The main difference in increased revenue for men's basketball was $2.5 million more in media rights and $750,000 more in compensations and benefits by a third party.
Lulu Kesin covers South Carolina athletics for The Greenville News and the USA TODAY Network. Email her at LKesin@usatodayco.com. Follow her on X@Lulukesin and Bluesky@bylulukesin.bsky.social
