FAMU ATHLETICS ANNUAL REPORT
TALLAHASSEE, Florida -- Florida A&M's athletic department on Tuesday released an annual report detailing the department's expenditures and revenues, as well as its future goals.
The biggest goal is one fans have been asking for: $60 million for an improved Bragg Memorial Stadium.
Other priorities for the department are $11 million for a new field house, $3 million for academic scholarships, $500,000 for athletic transportation, $100,000 for a new health and nutrition program and $150,000 for what's being called a "mobile learning initiative."
The athletic department increased its revenue from $7.4 million in the 2015-16 fiscal year to $8.6 million in the 2016-17 fiscal year. During the same time, the department decreased spending from $10.4 million to $8.5 million.
According to the report, "Fiscal year 2018 athletics revenues are projected to increase by 17% to $9.7 million largely due to an increase in men’s and women’s basketball game guarantees, increased revenue from other Olympic sports, increased football revenue from a new FAMU owned classic football game in Tampa and increased philanthropic fundraising."