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Old Dominion anticipates a $600,000 to $700,000 yearly decline in revenue from Conference USA's new TV contracts, down from the $1 million per school that league teams currently receive.
A decline in TV revenue for 2016-2017 has been expected since January, but at the time, it was thought fees would decrease by about $500,000 per school.
ODU's estimate indicates that C-USA's yearly TV revenue would be about $6 million – a sharp drop from the $14 million in contracts the league signed with Fox Sports and the CBS Sports Network in 2011.
ODU athletic director Wood Selig called the decline "a huge hit," adding, "We've got to work to get the value of Conference USA back up."
ODU's budget, which was finalized at last week's Board of Visitors meeting, included a decline of $1.4 million in revenue over 2015-2016 and a projected deficit of $1.6 million. In response to a Freedom of Information Act request from The Virginian-Pilot, Selig indicated ODU has budgeted for a $600,000 to $700,000 reduction in TV revenues. "That was our best estimate," based on conversations with league officials, he said.
The school also expects a drop of at least $250,000 in student fee revenue, as well as $400,000 less in ticket sales because the Monarchs play six home games instead of seven. The student fee reduction follows a state mandate that ODU and other schools reduce the percentage of student fees used for pay for athletics. "We've been slowing weaning our way off of student fees," Selig said.