February 12, 2026
By Chris Murray, Nevada Sports Net: One year after reporting a $20.9 million deficit, UNLV athletics has posted a $2.5 million surplus, according to its annual NCAA Financial Report.
Nevada Sports Net obtained the Rebels’ 2025 fiscal year report via a public-records request, with UNLV reporting a school-record $74,767,676 budget with $77,274,710 in revenue. That’s a $2,507,034 surplus. In FY24, UNLV reported a deficit of $20,891,423 based on revenues of $50,796,087 and expenses of $71,687,510. That was on top of $6,023,848 in beginning debt.
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