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Friday, November 1, 2024

Minnesota: Olmsted County's basketball teams budget increases 38.3% in 2023

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Jeffery S. Boyd, Ed.D. President | Rochester Community and Technical College

Jeffery S. Boyd, Ed.D. President | Rochester Community and Technical College

Olmsted County's institution invested $160,994 on their basketball teams in 2023, a 38.3% increase over the previous year, according to the U.S. Department of Education.

The county’s funding for the basketball teams comprised 16.2% of all money invested in sports teams in 2023.

The average sports expenses in Olmsted County have grown 100.7% since 2010.

Basketball is one of the most popular sports played at U.S. colleges, as well as football. NCAA basketball teams are often as popular as NBA teams, and offer a different experience for fans.

In 2022, after a decades-long fight, student athletes nationwide gained the right to profit from their names, likenesses, and images as a result of a flurry of new state laws and an NCAA policy change.

The basketball fund received around 168.57 million dollars from NCAA revenue in the 2020–21 school year.

Basketball Team's Expenditures in Olmsted County in Last 5 Years
YearBasketball Team's Expenditures% from grand total sport team expenditures
2023$160,99416.2%
2022$116,41013%
2021$95,41113.4%
2020$82,1718.6%
2019$142,39614.6%

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