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Floridas 2009-10 athletic budget tops $89 million

Floridas athletic budget proved to be recession proof, increasing $5,9 million for 2009-10.

The budget, passed Monday, will total more than $89 million despite a 10 percent cut in nearly every sport. Football and mens basketball saw budget increases.

Though the budget increased, the schools athletic department – the University Athletic Association – actually cut $2.9 million from last years $83 million budget.

However, those cuts were offset by a $6 million contribution to the university, a tuition raise (the UAA pays for its athletic scholarships), coaching salary incentives and the addition of womens lacrosse.

The department also raised its projected revenue by $8.1 million, to $90.7 million. The biggest boost will come from the Southeastern Conferences new television contract with CBS and ESPN, which will pay each school $6.2 million more this year than the previous deal.

It is the envy of every conference in the country, school president Bernie Machen said.

The 15-year deal should give the conference more exposure than ever by broadcasting at least 11 of every football teams 12 games and by broadcasting every conference mens basketball game.

The league is going to get some unbelievable exposure, athletic director Jeremy Foley said.

The schools athletic department, fared much better Monday than the university. Last month, the university announced $42 million in budget cuts and layoffs of nine faculty members and 49 staff employees.

Foley told coaches in every sport to trim operating budgets by 10 percent, and many did. However, football and mens basketball – the two revenue-generating sports – increased their budgets slightly. The football budget rose 2.3 percent to $6.36 million. Basketball went up 1.6 percent to $1.8 million.

Some coaches probably cut back on equipment, some coaches may have cut back on their travel or their mode of transportation or done something differently, Foley said. That was an individual decision made by our coaches. … How that impacts them, time will tell.

The athletic budget announced Monday did not include a raise for football coach Urban Meyer. Meyer led the Gators to their second national title in three years in January, but his contract will remain at $3.25 million annually – at least during this economic downturn.

When the timing is right, well sit down with Urban, Foley said. We understand the sensitivity of it all. Hes a highly valued employee. Weve got to take care of our future. But well determine that timing.

Meyer earned $375,000 in bonuses last season: $75,000 for winning the SEC championship, $250,000 for winning the national title and $50,000 for a top-10 finish in The Associated Press poll.

Meyer signed his current contract in 2007 after Florida won its first national title in a decade.

The budget also showed that the UAA owes about $84 million in bonds, much of it stemming from a $50 million renovation to Ben Hill Griffin Stadium nearly a decade ago. Despite the large debt in a fluctuating economic market, the UAA still donated $6 million to the university.

Were blessed to have significant resources, Foley said. When you have a significant year like we just had or you sign a new television contract, and the universitys hurting, its only right that you assist where you can. Were a separate corporation, but it doesnt mean were not a part of this institution.