This is objectively untrue. Pitt reported about $2M in profit from men’s basketball in 2021-22 - a season where, if you recall, we won fewer than ten games and played in a mostly empty Petersen Events Center. Pitt basketball turns a profit at a similar percentage to Pitt football during the ACC championship season - Pitt football makes more profit and more revenue, but also spends 4x as much as Pitt basketball. They both turn a profit at about 20% above expenses.
And that $2M in profit for basketball is including the “expense” of athlete financial aid - a completely fake expense that shouldn’t count against any program’s expenses. And it doesn’t include the revenue from men’s basketball that can be attributed to the ACC’s revenue distribution, which is typically regarded as being between 25% and 33% of the total.