The University of Minnesota's athletic department generated more than $83.6 million in revenue last year, according to a USA Today Sports analysis examining spending and revenue among 228 NCAA Division I public universities. Minnesota ranked No. 23 for revenue and No. 22 for expenses.
However, the annual report found 205 public schools in NCAA Division I needed subsidies to cover their athletic expenses in 2012, USA Today reports.
LSU, Nebraska, Ohio State, Oklahoma, Penn State, Purdue and Texas were the only schools that didn't receive any subsidy money last year.
Sixteen other public schools generated enough money to balance their athletics budgets, but still received some type of subsidy.
Minnesota collected nearly $7 million in subsidies, according to the special report.
Click here for the complete breakdown of the numbers.