More than 70% of public Power 5 schools spent *something* on football buyouts in FY21
Matt Brown
May 19, 2022
Good morning, and thanks for your continued support of Extra Points.
I'm still trying to dig out of some reporting projects, so we'll hear from Andy again today...
In the 2020-21 fiscal year, which was characterized by athletic department layoffs, salary reductions, athletic programs being cut, and numerous stadiums and arenas experiencing significant, if not complete, limitations on fan attendance, the 52 public institutions in the Power 5 set new records for the percent of schools that spent at least $1 million on college football coaches' buyouts and the number of schools that spent something on football-related buyouts.
Through public records requests, Extra Points obtained every public Power 5 school's latest NCAA Membership Financial Reporting System (FRS) report for the 2021 fiscal year, which started July 1, 2020 and ended June 30, 2021. These reports provide a more comprehensive window into the pandemic's effects on athletic departments, as the reports for the 2020 fiscal year only included the first few months of the pandemic.
Here are some of the highlights of my findings regarding the severance payments made by the 52 public Power 5 schools examined:
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