As Pac-12 athletic departments close their books on the 2021 fiscal year — the year swallowed whole by COVID — the emerging picture covers an unprecedented range of outcomes. Of massive deficits and small surpluses. Of institutional lifeboats and carnage mitigation. Only in FY2021 could an $18 million loss be considered a two-touchdown victory. Nowhere was the sweep of outcomes greater than at the sister schools in the geographic heart of the conference. Cal finished the 2021 fiscal year with a $3.5 million surplus, according to an audited statement of revenues and expenses obtained by the Hotline. For the school of Powder blue, the bottom line was deep red. UCLA ended the 2021 fiscal year with a loss of $62.5 million, according to an unaudited statement of revenues and expenses obtained by the Hotline. The Bruins are “developing solutions” to handle the debt.
