UConn reports more than $40 million athletic deficit

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The University of Connecticut is reporting that spending in its athletic division outpaced revenue by more than $40 million in 2018.

The school, in an NCAA financial statement released Thursday, says total generated revenue from sports last year totaled $40.4 million, while expenses came in at $80.9 million.

UConn spokeswoman Stephanie Reitz says the gap is a result of declining conference and media licensing revenue and rising costs.

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She says such deficits are not sustainable and the school is looking to find savings that will help close the gap.

The department received $30 million in institutional support and $8.5 million from student fees last year.

The statement shows the football program had an $8.7 million deficit; men’s basketball lost about $5 million; and women’s basketball lost just over $3 million.

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