LSU Athletics lost millions in 2021 fiscal year, new audit report shows

BATON ROUGE, La. (WAFB) - The Louisiana Legislative Auditor’s Office has released a new report that shows the LSU Athletic Department lost more than $10 million in the 2021 fiscal year but one sport actually made money.

The report covers fiscal year July 1, 2020, through June 30, 2021, a time period when many sports were canceled or cut back due to COVID-19.

“The university’s Statement of Revenues and Expenses showed the athletic department’s total revenues were $121,893,544 in fiscal year 2021 compared to total expenses of $132,515,453, resulting in a deficit of $10,621,909,” the report stated. “The football program generated $37,409,734 in revenue and, after expenses of $30,822,136, netted $6,587,598.”

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