The ASU athletic department finished 18th in the 2012-13 Directors' Cup and Athletic Director Steve Patterson believes there is even more room to grow.
In order to do that, Patterson said the athletic department must generate more revenue.
In Tuesday’s breakfast with the media, Patterson said ASU will make approximately $65 million in revenue in 2013, while noting the University of Texas will make $175 million in 2013. He said despite finishing 18th in the Directors' Cup, ASU had only the 50th biggest budget, the same tier as schools like UNLV and Rutgers.
A bigger budget would help the University provide new facilities, better tutoring options and boost recruitment to compete with the nation’s top athletic departments.
“If we’re going to really be competitive year in and year out, our budget needs to be at a level that could compete with the other schools out there," Patterson said.
Still, Patterson is optimistic about ASU’s outlook after it created a partnership with State Farm over the summer for a new stadium district. Patterson noted ASU’s 180 live events bring in $200 million to the city of Tempe.
Patterson also revealed ASU is working on a deal with the city of Phoenix to manage Papago Golf Course and move the ASU golf teams there. Patterson said the golf team's practice facility would stay open for the “foreseeable future,” which he estimated would be five to 10 years, until ASU uses the land to expand its stadium district.
As for the stadium renovations, Patterson said the University is still looking at fundraising options and should have a clearer plan for construction later in the fall. Patterson also didn't rule out considering naming rights for Sun Devil Stadium and having the football team play there during the renovation process.
Reach the reporter at jnacion@asu.edu or follow him on Twitter @Josh_Nacion
Correction: Because of a reporting error, an earlier version of this article said that the Karsten Golf Course would stay open for the foreseeable future. The article has been updated to reflect the correct information.
