By Anya Pelshaw on SwimSwam
Just yesterday, Marshall University announced that it would cut its women’s swimming and diving program and add a women’s stunt program. When the announcement was made last week, SwimSwam submitted a Freedom of Information Act (FOIA) request to obtain the Fiscal Year 2025 Financial report.
According to the report, Marshall Athletics operated in a $924,568 loss on fiscal year 2025, which ran from July 1, 2024 through June 30, 2025.
When broken down sport by sport, all of Marshall’s sports operated in a deficit. Football led the way with $13.6 million in expenses but only $5.9 million in revenues, resulting in a $7.8 million deficit. Marshall was 10-3 overall in the 2024 season, which was during fiscal year 2025. The team fell to 5-7 overall in 2025, which will be the season incorporated in the current (2026) fiscal year.
Baseball ($2.7 million), men’s basketball ($2.5 million), and men’s soccer ($2.5 million) all ran the next three largest deficits. Women’s basketball was the lone women’s program in a $2.5 million deficit. Women’s swimming and diving ran in a $1.1 million deficit, which sits at #10 out of 14 teams total, meaning the team had the 5th smallest deficit.
It is important to point out that revenues and expenses not related to specific teams resulted in a $25.7 million surplus. Almost half of the $38.6 million in revenues not related to specific teams comes from “Direct Institutional Support” as $14.9 million in revenue was recorded that way. Student fees accounted for $6.5 million in revenue not related to specific teams, and all students pay $809.00 per semester in fees.
Sport By Sport Deficit Breakdown
* Sorted by largest to smallest deficit in the right column
Total Operating Revenues 2025 Total Operating Expenses 2025 Surplus/Deficit Football 5,793,385 13,574,650 -7,781,265 Baseball 1,724,883 4,440,000 -2,715,117 Men’s Basketball 1,046,548 3,593,971 -2,547,423 Men’s Soccer 482,967 3,007,966 -2,524,999 Women’s Basketball 180,592 2,679,494 -2,498,902 Women’s Soccer 46,137 1,538,676 -1,492,539 Softball 176,165 1,517,323 -1,341,158 Women’s Track & Field/Cross Country 3,444 1,192,772 -1,189,328 Men’s Track & Field/Cross Country 19,024 1,166,262 -1,147,238 Women’s Swimming and Diving 26,555 1,137,682 -1,111,127 Women’s Volleyball 85,029 1,112,868 -1,027,839 Women’s Tennis 66,886 656,751 -589,865 Women’s Golf 17,865 504,860 -486,995 Men’s Golf 181,515 599,286 -417,771 Others 0 0 0 Not Related To Specific Teams 38,584,541 12,907,543 25,676,998 Sum 48,435,536 49,360,104Marshall’s Full FY2025 Financial Report
Last Five Years Surplus/Deficit
Marshall has been in a deficit four out of the last five years, with its lone surplus coming in 2021 when it operated in a $27,979 surplus. Fiscal Year 2023 was its largest deficit with a $4.3 million deficit.
Read the full story on SwimSwam: Marshall Swim/Dive Reports $1.1 Million Deficit For FY 2025, Compared To Football’s $7.8 M Deficit
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