Penn St. athletics revenue down 7 percent
The Penn State athletic department's latest financial report shows revenue declined by $7.9 million, or nearly 7 percent, last year to more than $108 million.STATE COLLEGE, Pa. -- The Penn State athletic department's latest financial report shows revenue declined by $7.9 million, or nearly 7 percent, last year to more than $108 million.
The report posted on a university website late Monday showed revenue from football ticket sales was $33.4 million in 2012, down from $34.2 million in 2011.
The figures are part of a filing required by the U.S. Department of Education of athletic departments. The report covers the fiscal year ending June 2012, though it was the school's first filing following the child sex abuse scandal involving ex-assistant coach Jerry Sandusky, who was arrested in November 2011.
More than $9.6 million in contributions were football-related, nearly five times the amount from 2011. But contributions were down to athletics overall from $34.2 million to $25.5 million.
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