Michigan State’s athletic finances show strength in fan support, but rising costs erode surplus

Michigan State’s athletic department has seen significant financial swings in recent years, with a once-healthy surplus turning into back-to-back deficits.

According to 2024 fiscal data filed with the NCAA and obtained by The Athletic, the Spartans reported a $16.7 million loss for FY 2024, erasing the gains from a $16.35 million surplus in 2022. Over the last five years, MSU’s cumulative shortfall now totals $44.8 million...