STARKVILLE — Mississippi State athletics’ expenses outweighed its revenue by more than $5 million in the 2023 fiscal year ending June 30, according to documents obtained by The Clarion Ledger. It’s the largest deficit the athletic department has ever reported in an NCAA financial report.

MSU reported a record of nearly $121 million in expenses, though it collected a record revenue of more than $115 million.

The previous high in reported expenses came last year when MSU recorded nearly $106 million. The previous record in revenue – excluding 2021 in which the SEC provided more than $20 million in supplemental revenue to help offset losses from the COVID-19 pandemic – was in the 2019 fiscal year when MSU brought in more than $112 million.

Mississippi State set a record in various expense categories. MSU saw new highs in coaching salaries, support staff/administrative salaries, recruiting, game expenses, fund raising/marketing/promotion and student meals.

On the revenue front, Mississippi State saw a drop of nearly $1.5 million in non-media and non-football bowl distribution from the SEC between the 2022 fiscal year and 2023. However, MSU saw an increase of approximately $2 million in, “other operating revenue” – nearly doubling the figure from 2022.

The lack of media revenue for baseball and women’s basketball continues to cost Mississippi State. Baseball lost MSU nearly $2.3 million while women’s basketball lost more than $5 million. NCAA distribution also hurt the latter.

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Men’s basketball lost MSU $240,625 more than it earned. However, men’s basketball generated nearly $2.8 million more from NCAA distribution, approximately $430,000 more from conference distribution and nearly $4.3 million more in media rights.

Women’s basketball cost nearly $3.2 million more than the men, but the women’s team generated about $8 million less. Both teams made the NCAA Tournament last season needing to win a play-in game to make the field of 64. The women, led by coach Sam Purcell in his first season, made it as far as the second round while the men were eliminated in the First Four.

Zac Selmon was hired as athletics director in January 2023, taking over for John Cohen, who departed for the same position at Auburn.

Despite operating at a deficit exceeding $5 million, MSU reported a lesser loss than rival Ole Miss (more than $8 million).

Stefan Krajisnik is the Mississippi State beat writer for the Clarion Ledger. Contact him at skrajisnik@gannett.com or follow him on the X platform, formerly known as Twitter, @skrajisnik3.

This article originally appeared on Mississippi Clarion Ledger: Mississippi State athletics loses more than $5 million in fiscal year