Wake Forest University in Winston-Salem, North Carolina, allocated $32,478,209 to its football teams in 2024, marking a 0.5% rise compared to the previous year, according to the U.S. Department of Education.
Football expenditures accounted for 31.7% of the university’s total sports budget in 2024, amounting to $32,478,209.
Since 2010, the average spending on sports at Wake Forest University has increased by 147.4%.
College football is one of the biggest sports in the U.S., with some college teams eclipsing NFL teams in terms of attendance and profit.
College athletics has entered a new era of athlete compensation after a federal settlement allowed schools to directly share revenue with players for the first time. The agreement also requires the NCAA to pay $2.8 billion in back damages over 10 years to athletes who competed from 2016 to the present.
In 2022, after years of legal and legislative pressure, athletes also gained the right to profit from their names, images and likenesses through state laws and an NCAA policy change.
Football Teams’ Expenditures of Wake Forest University in Last 5 Years
| Year | Football teams’ expenditure | % from grand total sport team expenditures |
|---|---|---|
| 2020 | $24,698,755 | 29.2% |
| 2021 | $23,073,720 | 25.3% |
| 2022 | $28,440,253 | 33.5% |
| 2023 | $32,322,751 | 33.2% |
| 2024 | $32,478,209 | 31.7% |
