When it comes to success in athletics there is a strong correlation between total budget and championships as this article in the Huntsville Times points out. From the article:
It can’t be considered a coincidence that the two SEC programs that have never won a national championship in any sport also are the lowest in overall revenue. Just below in-state rival Ole Miss, Mississippi State ranks last of the 12 schools, saddled with an athletic budget hovering near $30 million.
On the other end of the scale is Florida, which has a budget more than three times that of MSU. The Gators own national titles in nine sports, the most of any SEC school.
Southeastern Conference schools routinely toss hundreds of thousands of dollars into football recruiting each year, but only one program is burning more than $1 million a year. Continue…
And even more:
With rare exceptions, most major- college athletic budgets resemble that of Alabama’s, which for the 2007-08 fiscal year, had only one sport budgeted to make a profit – football. It was slated to earn in excess of $11 million.
Other sports ranged from a break-even margin for men’s basketball to a loss of more than $2 million for women’s basketball. Crimson Tide baseball had an expected deficit of about $1.5 million. Continue..