Detroit Free Press · Oct 23, 2015
U-M's athletic budget deficit $342,000, not $7.9 million
The U-M Regents learned the early projection was greatly reduced based on a few football factors
(Photo: Paul Sancya AP)The Michigan athletic department's deficit for the 2015 fiscal year will be $342,000 — not $7.9 million, as originally projected — according to an audit released to the U-M Board of Regents last week.
When interim athletic director Jim Hackett announced a projected deficit of $7.9 million in June, it was stunning. The department would be in the red after years of surpluses in the millions — sometimes tens of millions ($17 million in 2014 and $11 million in 2013).
