Texas just might be able to afford a raise for Steve Sarkisian.

A healthy one, at that.

The Texas athletic program produced a record $271 million in operating revenue in its 2023 fiscal year that ended on Aug. 31, according to the school’s annual financial report to the NCAA examined by USA Today after an open records request.

“We’re very fortunate that we have an incredible fan base that supports our athletic program and loves our great institution,” Texas athletic director Chris Del Conte told the American-Statesman on Wednesday. “We’re very, very proud of our athletic program, and the support of our institution is second to none.”

Del Conte said the biggest reasons for the increase in revenue were the school’s first year in Moody Center, “an incredible job by our development team” in restricted and unrestricted gifts and the first year of a new Learfield agreement on media rights.

“We’re undergoing a capital campaign for new projects,” he said.

Texas has already made massive improvements with the south end zone of Royal-Memorial Stadium as well as the facilities for baseball, softball, soccer and track.

The school has already raised the money needed to finance the indoor football facility, a cost estimated to run between $80 million and $90 million. Texas will break ground on the project in June, a task that will take two years.

“That tells us we have a very passionate fan base,” Del Conte said.

No other school that has revealed its revenue-and-expenses report comes close to the burgeoning Texas program, whose revenue increased by almost $32 million over the 2022 total. USA Today reported that the Texas amount stands as the biggest one-year total since the NCAA began its financial reporting system in 2005. Ohio State reported $251.6 million in 2022.

Where did the money come from?

Football generated $183 million for Texas in 2023 and a $39 million surplus over expenses. The athletic program’s list of expenses totaled $232 million. That number included $40.3 million in total coaches salaries and bonuses for all sports, $4.9 million in recruiting, including postage, and $5.5 million in guarantees for visiting teams.

Men’s basketball generated $23 million and baseball $5.9 million as Texas is one of the few college baseball programs to actually make money.

Also included in the Texas report were reports of $54.7 million in the form of sponsorships, licensing, royalties and advertising — up $10.2 million from 2022 — and $86 million in fund-raising donations, a bump of $11 million.

Things should get even bigger next year in the SEC

Next year will bring an inaugural season in the SEC with more revenue, but Texas’ income will be offset by losses with the end of the Longhorn Network, which earned the school upward of $15 million a year.

“This year should be better than last year,” Del Conte said. “The only difference is how much developmental money we raise. We have room to grow.”

Texas sold out its allotment of almost 68,000 football season tickets, not including the 18,000 tickets reserved for students, and has also sold out season tickets for men’s basketball, baseball and softball.

“We’re pretty locked in,” he said.

Del Conte has told the American-Statesman the school is working on the details of a pay raise for Sarkisian, the football coach who took the Longhorns to the Big 12 championship in their final year in the conference and to their first ever College Football Playoff.

Texas has already extended Sarkisian’s contract by four years, raising his agreement to seven years. It has yet to announce the figures, but Sarkisian made a base salary of $5.6 million and qualified for $300,000 in incentive bonuses.

This article originally appeared on Austin American-Statesman: Texas football helps make athletic program flush with dough