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Tennessee’s deficit up to $3 million for year

June 19th, 2013 - By Steve James

Tennessee’s athletic

department is expecting a budget deficit between $2 million and $3

million this year.

That’s a drop from $3.98 million a year ago according

to a review at the university’s board of trustees meeting

Wednesday.

The athletic department cut its 2012-13 budget to $99

million from $105.9 million. But revenue is expected to be no more

than $97 million.

University officials declined to comment until the

after the fiscal year ends June 30.

Three consecutive losing seasons in football, and a

decline in ticket sales and donations were cited for the revenue

drop. Firing coach Derek Dooley last November cost a $5 million

buyout, and new coach Butch Jones’s contract is worth $18.2

million.

The 2011-12 deficit resulted in the athletic

department’s financial reserves dropping below $2 million.