Or any of the other three Dakotas. What is SDSU spending money on? Their tuition is quite low.

These are never apples to apples. Some schools report facility amortization as part of operating expenses while others don’t. In most places there are football costs allocated to the AD rather than to football specifically, which I suspect is the case with the Dakota schools.

Records set in ticket sales, fundraising and attendance in FY25
Ticket Sales
Added full-time ticket sales account executive to assist with renewals, new season ticket and group ticket sales heading into 2025-2026 season
Final ticket revenue increased by 28% with the largest gains in Olympic sports (83%) and women’s basketball (33%)
Attendance
Attendance across all sports grew by 16% with the largest gain coming from football, seeing a 28% increase
Student attendance grew by 18% with largest increases in baseball (75%), volleyball (59%), men’s basketball (33%), and gymnastics (21%)
Fundraising
Athletic Development raised $5.76M from 3,200+ donors
$3M secured by sport programs – more than double their annual goal