Kentucky has never been shy about calling itself a basketball school.
Just ask John Calipari—he said exactly that, sparking a public spat with Mark Stoops that still echoes through the halls of the Joe Craft Center and Kroger Field alike even after Cal is gone. But here’s a new twist: when you follow the money, the basketball-first claim isn’t quite as dominant as you might think.
UK spent big on basketball in 2024 but not the most
For the 2024 fiscal year (July 1, 2023, through June 30, 2024), Kentucky spent just over $30 million on men’s basketball. That’s a massive figure—still one of the highest in the nation. But for a program with Kentucky’s reputation and fanbase, it raises a fair question:
Did they get a good return on investment?
According to the numbers attained from usatoday by al.com, Kentucky brought in $33 million in basketball revenue during that same period. That’s only a $3 million profit—and ranks eighth in the SEC in terms of profit margin. Eighth. In basketball.
Not exactly what you’d expect from the program that claims to be the gold standard.
Meanwhile, football outspent basketball by nearly $10 Million
In an even bigger surprise, Kentucky football outspent the basketball team by close to $10 million during the same window. And with Stoops’ salary eclipsing $9 million—and three assistants making more than $1 million each—it’s clear where a lot of that is going.
The irony? Kentucky still didn't sniff the top 12 of the CFP rankings, and the fanbase remains lukewarm on playoff hopes.
Basketball is supposed to be the revenue engine at UK, and yet it’s football that’s getting the heavier investment—without nearly the same level of expectations or pressure.
A new era, a cheaper coach in Mark Pope, and a tournament run
Enter Mark Pope.
In April 2024, Pope took over a program that had plateaued under Calipari—high spending, high stress, and disappointing March results. Pope came in with fresh energy, a more modern approach, and a much lower price tag: $5.5 million per year, compared to Cal’s $8.5 million.
That alone gives Kentucky a financial edge heading into the next fiscal year.
But there’s more:
Ticket demand surged during Kentucky’s NCAA Tournament run to the Sweet 16, their deepest since 2019.
Secondary market prices rose, which usually indicates strong actual sales. Fan enthusiasm returned, which often leads to increased merchandise and concessions revenue.
In short, Pope's first season cost less and inspired more.
The bottom line
Kentucky basketball still costs a lot. $30 million is no small figure. But for all that spending, the profit wasn’t nearly as impressive as fans might assume.
That could change in the next fiscal year, as Mark Pope's cheaper contract and deeper tournament run offer a glimmer of financial efficiency—and fan excitement—that was missing in Calipari’s final seasons.
Kentucky is still a basketball school. But in 2024, the books told a more complicated story. Now it’s up to Pope to make it not only successful again—but profitable too.