Since moving to the Big Ten in 2012, Rutgers' athletic department has racked up over $250 million in debt. To this point, the conference's brand has not elevated the Scarlet Knights. If anything, it’s done the opposite.
Hermann was fired in November 2015, the same day as Schiano’s successor, Kyle Flood. After a respectable 8-5 debut season in the Big Ten in 2014, highlighted by a home win over Brady Hoke’s last Michigan team, Rutgers fell to 4-8 overall and 1-7 in the Big Ten the next.
Beginning late in the 2017 season and lasting through 2019, Rutgers lost 15 consecutive Big Ten games by a combined score of 734-164 . “We played really close in a number of football games, where — if for the sake of a touchdown or two the other way — we’re going to a bowl game again. Those two alone would have been credited with a significant number of places in the Directors’ Cup. And I’m pretty confident where we’re going this year.”
Beginning in 2020, Rutgers athletics has reported more than $69.8 million in combined losses to the NCAA, per financial forms obtained byvia state open-records laws. A NorthJersey.com investigation in 2021 documented $265 million in total debt. “We’re somewhat hampered in that our football stadium has 53,000 seats,” Hobbs says. “Our Jersey Mike’s Arena has 8,000 seats. We have the lowest premium seat inventory, I think, in the conference, and we’re looking to change that.”“Every year, there’s a supposedly new solution,” he says. “They expanded the stadium, that was going to change the game, and then they hired Greg Schiano and that was going to change the game, but it didn’t.
But the schools’ arrival coincided with the dawn of cord-cutting. BTN had 49.6 million subscribers in December 2022, a 9 percent drop from just a year earlier, according to Sports Business Journal analysis of Nielsen research. Meanwhile, in 2021, the conference sold a stake in BTN to Fox, which now holds 61 percent ownership.
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