Breaking Down 2022-23 Mountain West Revenue & Expenses

Air Force's revenue ranked 57th nationally, and all but one MWC school turned a fiscal profit

Posted on June 19, 2023


  By SuperWest Sports Staff

USA TODAY recently released its annual database of athletic department revenue, expenses, and profit/loss for the Mountain West and other college athletics departments that reported data in 2022-23.

While MWC members can’t keep pace with the revenue of Pac-12 schools, all but one Mountain West team—San Diego State with a deficit of -$1,348,615—logged a fiscal profit.

Air Force had the highest revenue at $76,587,462, ranking the Falcons 57th nationally while turning the Conference’s biggest profit at $9,165,410.

No other school topped $70K in revenue with SDSU taking in $65,897,302, UNLV grossing $65,897,302, and Colorado State pulling down $61,263,230, for the second, third, and fourth spots.

Fresno State, which compiled the fifth-most revenue at $54,124,579, enjoyed the second-highest profit at $7,608,751.

Hawaii, with total revenue of $49,422,827, is in a unique position, participating as a football member of the Mountain West, but as a member of the Big West in basketball.

Only San Jose State grossed less than $40 million at $39,030,222, netting a narrow profit of just $200.

Nationally, the richest school is Ohio State with total revenue of $251,615,345 and profits of $25, 881,927.

The table below gives the totals by Mountain West school for each category, enabling you to sort by revenue, expenses, and profit or loss (shown in red).


2022-23 Revenue, Expenses, and Profit/Loss by MWC School

SchoolRevenueExpensesProfit
Air Force$76,587,462$67,422,052$9,165,410
SDSU$65,897,302$67,245,917-$1,348,615
UNLV$64,243,413$62,644,050$1,599,363
Colorado St$61,263,230$61,220,502$42,728
Fresno St$54,124,579$46,515,828$7,608,751
Boise St$50,569,147$50,328,947$240,200
Wyoming$50,255,884$47,146,999$3,108,885
Hawaii$49,422,827$48,029,141$1,393,686
Nevada$47,946,637$45,228,707$2,717,930
New Mexico$44,881,065$44,865,758$15,307
Utah St$43,157,838$42,824,185$333,653
SJSU$39,030,222$39,030,022$200



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