Paying coaches not to coach is not paying off at the University of Tennessee.
Tennessee athletics posted a $3.98 million deficit for the 2011-2012 fiscal year, and the university said that forced them to dip into their reserve fund.
That fund is now less than $2 million.
The university confirmed Tennessee had more than $106 million in revenues while spending more than $110 million during the last fiscal year.
The Sports Animal radio station in Knoxville first reported the deficit Monday
The athletics department traditionally gives a minimum of $6 million each year to the university and has more than $200 million in debt for athletic facilities.
Tennessee also paid two football coaches, three basketball coaches, two athletic directors and two baseball coaches during the last year.