MADISON, Wis. — A new study from the Center for Research on the Wisconsin Economy (CROWE) suggests that if the Badger football team continues to play poorly, it could cost the team millions.

The Badgers have won just two games this season, and are currently on a five-game losing streak that includes two home shutouts. CROWE found that a continued drop in on-field results could lose the football program up to $20 million in profits annually.

According to CROWE’s research, the football team’s decline could threaten other sports, student applications, research output, the university’s overall ranking and more.

UW-Madison would be joined by the City of Madison and the state of Wisconsin in this hypothetical loss: an estimated $160 million annual loss to the city and $280 million statewide as a result of reduced attendance, game-day spending, and tourism.

Badger Football’s winning percentages have plummeted from over 90% in 2017 to below 50% in 2024, making this the program’s worst record since 2001. This season is on track to become the program’s worst this century.

CROWE’s research found that profits from the football team effectively subsidize the rest of UW Athletics’ other teams. It was also found that when the Badgers lose games, they’re losing out on opportunities to make more money too.

Researchers cited other studies showing that a winning football team can bring as much as an 8% boost in alumni donations and student applications.

Evidence in the study also showed that a winning team can bring in up to 15-35 cents on each dollar of research support at the margin in the form of licensing income. Schools with a football team ranked higher in the final Associated Press or Coaches’ Poll were found to receive higher ratings from outlets like the US News and World Report.

Turning things around will require not just an improvement on the field but also in how money is being invested into the football program. One place that CROWE suggested starting with was spending on Name, Image and Likeness compensation.

Wisconsin spent $8.9 million in NIL Collective Funding in 2023-2024, compared to Ohio State’s $20 million. Individually, the Badgers also lag behind. Starting quarterback Billy Edwards Jr. was the Badgers’ highest-paid player this year, CROWE found, but he is not among the highest-paid quarterbacks in college football.

The Badgers travel to No. 6 Oregon on Saturday, hoping to avoid a sixth consecutive loss. At the very least, they’ll be hoping to score some points in order to break the shutout streak.

Kickoff for Saturday’s game is set for 6 p.m. CT.

To view the full report, visit the CROWE website.

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