Cincinnati Bearcats Athletics Reportedly Posts Record Financial Figures in 2025

Great numbers for UC's final restricted year in the Big 12.

Cincinnati Bearcats running back Zion Johnson (13) catches a pass and runs for a first down on fourth down as Arizona Wildcats defensive back Ayden Garnes (9) tackles him in the fourth quarter of the NCAA football game between the Cincinnati Bearcats and Arizona Wildcats at Nippert Stadium in Cincinnati on Nov. 15, 2025. | Albert Cesare/The Enquirer / USA TODAY NETWORK via Imagn Images

CINCINNATI — The Cincinnati Business Courier dove into the operating budget for UC Athletics between June 2024 and June 2025. They found some encouraging financial signs for the department early in its Big 12 tenure.

Steve Watkins reported Cincinnati brought in a 23% revenue increase to $118.5 million (first time ever above $100 million), while the expenses tallied up to $119.3 million (13% rise). An $800,000 deficit is very palatable as the biggest advertising arm available to the university. Nothing else tied to UC comes close to reaching wide audiences like athletics does.

That big increase was boosted by $13 million in money provided to athletics by the university. On the flip side of that increase, boosted fundraising from June 2024-25 was a big factor as contributions category revenue rose $4.7 million.

“It’s about what the athletics department needs to be successful in the Big 12,” UC’s senior deputy athletics director and chief operating officer, John Daniel, said to Watkins, “realizing that the athletics department is the premier marketing arm for the entire institution.”

Cincinnati will receive its full $36 million conference revenue share allotment for the June 2025-26 fiscal year after taking a split of revenue during its opening two years in the Big 12. Watkins noted the school is allotting much of the additional $18 million share (or higher based on final yearly Big 12 revenue) to pay student-athletes through NIL deals.

The big boost in money reportedly means Cincinnati will pullback how much the actual university invests into athletics.

“The university is in a really good position financially,” Daniel said to Watkins. “Enrollment has continued to grow. And we’re pleased with the direction on the financial side for athletics.”

There haven't been any championship moments to highlight since entering the Big 12, but UC's in a good place with its athletics' financial health as they now live unshackled life as a full conference member.

Check out the full dive into the budget from the CBC here.

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