Alabama athletics was in the red for fiscal year 2024, according to its NCAA revenues and expenses report, obtained by AL.com by an open records request. The Crimson Tide reported a nearly $28 million loss department-wide.

However, UA open records and project specialist Jessica Schingle offered an explanation.

The net loss reported for the year was largely due to one-time expenses associated with the football coaching transition,” Schingle said in an email.

Alabama reported $234,825,632 in revenue for the fiscal year, which ran from July 1, 2023 to June 30, 2024. The department spent $262,789,471.

The total net loss came to $27,963,839. It’s the second straight year Alabama has shown a loss on athletics, though last year’s deficit was explained by $14.3 million in gifts that were not counted during FY 2023.

Alabama reported $199.9 million in revenue last year, so the number is up for 2024. The Crimson Tide spent $212 million department-wide in FY 2023.

UA football remains the financial driver for the entire athletics department. The program reported $140.3 million in revenue and $113.8 million in expenses, for a $26.4 million surplus.

Alabama football reported $21.3 million in coach pay for FY 2023, a number which ballooned up to $47.4 million for FY 2024. The Tide’s football recruiting spend also jumped, from $2.9 million for FY 2023, to $5.3 million.

Meanwhile, the Alabama men’s basketball program brought in $21.3 million in FY 2024, which included its first Final Four run, up from $20.6 million. The program spent $15.3 million in FY 2024, for a surplus of nearly $6 million, up from a $12.8 million spend in FY 2023.

Department-wide, Alabama’s biggest expense was coach pay and benefits. Including the large football spend, UA reported $65.3 million, a huge jump from last fiscal year’s $37.3 million.

Support-staff pay also saw a large increase, up to $41.5 million. In FY 2023, that was UA’s biggest expense, at $38.5 million.

Contributions were Alabama’s largest source of revenue in FY 2024, as the program raked in $75.3 million, an enormous increase from $48,963,013 in FY 2023. $53.5 million of that came from football, up from $42.7 million last fiscal year.