In Austin, Texas, football enthusiasts are set to experience a change in ticket pricing, as the University of Texas plans to increase their season ticket prices by $13 per game starting next season. This decision emerges as the sporting program, already one of the wealthiest in the United States, confronts rising expenses.
The news was announced by Athletic Director Chris Del Conte during his annual campus town hall meeting. During this session, he outlined the future financial landscape of the program, which hinges on the expected finalization of a notable $2.8 billion lawsuit settlement. This pivotal settlement is designed to enable athletes to begin receiving direct payments from their respective institutions.
Del Conte revealed that Texas is bracing for nearly $30 million in additional expenses as well as the introduction of around 200 extra scholarships across various sports. The decision to increase ticket prices forms part of the strategy to offset these new financial obligations. Specifically, the expanded scholarship programs are projected to cost around $9.2 million, while the annual payments to athletes are estimated at $20.5 million.
“Our goal is to reach full capacity,” Del Conte remarked. “We aim to uphold our status as the premier athletic department nationwide.”
Texas stands out as the only program to have made it to the College Football Playoff over the past two seasons. However, the Longhorns fell short in the semifinals both times. Furthermore, Texas recorded $332 million in operating revenue against $325 million in operating expenses for the 2024 fiscal year. This marked the first instance where a top-division public school surpassed the $300 million threshold in both revenue and expenses.
