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.