Explore the annual financial report of USF football, revealing a significant boost in investments. The report showcases a substantial increase in football recruiting expenses, support staff compensation, and assistant coaching salaries. Additionally, gain insights into the severance payments made for the firing of coaches and administrators. The report also sheds light on the school's operating revenue, outside contributions, and athletic debt. Delve into the details of how USF is enhancing its football program and pursuing an on-campus stadium.
Increased Investments in Football Recruiting
In the 2022-23 fiscal year, USF's football expenses witnessed a remarkable increase, particularly in the area of football recruiting. The budget for recruiting more than doubled, reaching $1.5 million, surpassing the entire athletic department's recruiting budget from the previous year. This substantial investment demonstrates the school's commitment to attracting top talent and strengthening the football program.
The increased funding for football recruiting reflects the administration's recognition of its importance in building a competitive team. By allocating more resources to this area, USF aims to enhance its recruitment efforts, expand its reach, and secure talented athletes who can contribute to the team's success.
Elevated Support Staff Compensation
USF's commitment to investing in its football program is evident in the significant increase in support staff compensation. The school allocated approximately $2.2 million to support staff salaries, marking a nearly 30% rise. This investment allows the program to attract and retain experienced professionals who can provide valuable assistance to the coaching staff and players.
The elevated support staff compensation demonstrates the administration's understanding of the crucial role these individuals play in the overall success of the team. By offering competitive salaries, USF ensures that the football program has a dedicated and skilled support system in place, enabling the coaches and players to focus on their roles and responsibilities.
Enhanced Assistant Coaching Salaries
USF has also made significant strides in enhancing assistant coaching salaries, further demonstrating its commitment to building a competitive football program. The school increased the budget for assistant coaching salaries by $200,000, reaching a total of $3.2 million. This investment allows USF to attract experienced and talented coaches who can contribute to the team's growth and development.
By offering competitive salaries, USF ensures that the football program can assemble a strong coaching staff that can effectively guide and mentor the players. The increased assistant coaching salaries not only recognize the valuable contributions of these individuals but also serve as an incentive for them to continue delivering exceptional results.
Insights into Severance Payments
The financial report sheds light on the severance payments made by USF for coaches and administrators in the football program. The school reported just under $2.2 million in football severance payments, indicating the cost of parting ways with the previous coaching staff led by Jeff Scott.
While the full buyout amount for Jeff Scott is undisclosed, the report provides transparency regarding the financial implications of the coaching change. Additionally, the report reveals $478,000 in severance payments for men's basketball, following the termination of coach Brian Gregory in March.
Operating Revenue and Athletic Debt
The financial report provides an overview of USF's operating revenue and expenses. While the school posted a small deficit of $135,000, the report indicates a significant increase in revenue compared to the previous fiscal year.
The additional revenue of $14.5 million can be attributed to various factors, including increased direct support from the school, outside contributions, and conference distributions. However, it's important to note that the athletic debt also rose from $28.8 million to $32.7 million, indicating ongoing financial obligations.
USF's pursuit of an on-campus football stadium, with a potential debt of up to $200 million, adds to the overall athletic debt. Despite the debt increase, the report highlights the school's efforts to generate revenue and invest in the football program's growth and success.