Annual revenue reports are out. Where does Boise State athletics rank in Mountain West?

Darin Oswald/

The Boise State Athletic Department ended fiscal year 2022 operating in the black thanks in large part to sizable increases in ticket sales and support from the university.

Boise State generated $50,569,147 between June 30, 2021, and June 30, 2022, and ended the year with a surplus of $240,200, according to the annual revenue report the university submitted to the NCAA and Idaho State Board of Education.

The Broncos’ expenses were $50,328,947 last year, leaving the department with its largest surplus since 2019.

Boise State ended fiscal year 2021 operating at a deficit of more than $600,000, a result of canceled football games and limitations on crowd sizes because of the COVID-19 pandemic.

That was the first time department operated at a deficit since 2016, but the Broncos rebounded in a big way. Revenue from all ticket sales accounted for a little more than $7.2 million last year, the most since 2017, when they brought in $7.3 million of the department’s annual revenue.

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Boise State also got a big bump in direct institutional support, which is funds the university allocates for athletics. They’re drawn from a combination of sources, including state funds, tuition, tuition discounts and waivers, and reimbursements from transfers, according to the revenue report.

For the Broncos, those funds went from a little more than $5.1 million in 2021 to $10.6 million last year. It was the most financial support the department had received from the university since 2018, when it got $10.3 million.

Boise State earned $5.03 million from media rights last year, up from $4.4 million in FY 2021. The Broncos also collected almost $1.6 million in Mountain West distributions and $1.9 million from the NCAA, both of which were increases from the previous fiscal year.

Boise State collected $9.1 million in donations and contributions in FY ‘22, up from $4.7 million in 2021. The department also brought in $6.2 million in royalties, sponsorships, ads and licensing fees, an increase from $3.8 million the previous year.

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The football team continued its trend of generating about half of Boise State’s revenue. The sport brought in $25.6 million, up from a little more than $11 million the previous fiscal year, when the pandemic affected ticket sales. The team generated $24.8 million in fiscal year 2020, which included the 2019 season.

The football team’s expenses added up to $18.4 million, leaving the program with a surplus of $7.1 million.

The Broncos’ football and men’s basketball team’s also continued their trends of being the only Boise State programs to end the year with a surplus.

Men’s basketball generated $5.03 million and spent a little more than $4.1 million. The women’s basketball team ended the year with a deficit of about $1.2 million.

Ranking the Mountain West

Boise State ranked No. 5 in the Mountain West in terms of revenue generated in FY ‘22, according to annual reports and a database maintained by Syracuse University’s Newhouse School of Public Communication and the Knight Commission on Intercollegiate Athletics.

San Diego State led the conference after bringing in more than $65 million. San Jose State generated the least amount, with just over $39 million.

Here’s a look at how the conference breaks down. Note: The Air Force Academy does not disclose its annual financial report.

1. San Diego State

Revenue: $65,897,302

Expenses: $67,245,917

Net: - $1,348,615


Revenue: $64,243,413

Expenses: $62,644,050

Net: + $1,599,363

3. Colorado State

Revenue: $61,263,230

Expenses: $61,220,502

Net: + $42,728

4. Fresno State

Revenue: $54,124,579

Expenses: $46,515,828

Net: + $7,608,751

5. Boise State

Revenue: $50,569,147

Expenses: $50,328,947

Net: + $240,200

6. Wyoming

Revenue: $50,255,883

Expenses: $47,146,996

Net: + $3,108,887

7. Hawaii

Revenue: $49,422,827

Expenses: $48,029,141

Net: + $1,393,686

8. Nevada

Revenue: $47,946,637

Expenses: $45,225,707

Net: + $2,720,930

9. New Mexico

Revenue: $44,881,065

Expenses: $44,865,758

Net: + $15,307

10. Utah State

Revenue: $43,157,838

Expenses: $42,824,185

Net: + $333,653

11. San Jose State

Revenue: $39,030,222

Expenses: $39,030,022

Net: + $200