Friday, March 24, 2017

FSU sees drop in revenue & NCAA cash payout (plus more FSU investment issues)




https://floridastate.rivals.com/news/as-expected-seminoles-see-dip-in-revenues-from-acc-ticket-sales




Due primarily to a decline in ticket sales and a smaller payout from the Atlantic Coast Conference -- neither of which was unexpected -- Florida State’s athletics department and Seminole Boosters Inc., saw their combined revenues drop nearly six percent for the fiscal year that ended June 30, 2016.

According to FSU athletics department documents obtained by Warchant, the Seminoles generated just $20.96 million in ticket revenue for the 2015 season -- that was a drop of nearly $5.5 million from the 2014 campaign. And the ACC’s annual distribution dropped from nearly $26 million to $23.92 million.

That left the combined revenue of FSU’s athletics department and Seminole Boosters Inc., the department’s fundraising arm, at $114,754,314, compared to the year earlier total of $122,037,252.


https://floridastate.forums.rivals.com/threads/as-expected-fsu-sees-drop-in-revenue-due-mainly-to-ticket-sales-acc-payout.176625/#post-2881694





http://www.usatoday.com/story/sports/college/2017/03/24/ncaa-200-million-payout-bonus/99582450/

College athletics departments will receive amounts ranging from about $165,000 to more than $1.3 million from a one-time supplemental distribution of $200 million the NCAA is making to Division I schools in mid-April, according to a school-by-school distribution report compiled recently by the association.



Asher Wildman‏ @AsherWildMan6 3 minutes ago 
          
According to ., the NCAA is making a $200 million donation to Division One schools. Here's how the ACC Payouts look.


Asher Wildman‏ @AsherWildMan6 3 minutes ago
Of the $200 million dollars being handed out by the NCAA, $12,722,624 is headed to the ACC. $770,172 is going to FSU (4th least) in ACC.



https://floridastate.forums.rivals.com/threads/as-expected-fsu-sees-drop-in-revenue-due-mainly-to-ticket-sales-acc-payout.176625/#post-2881694




Having said that, I'm sure the Boosters aren't thrilled about the investment losses. But I was told they occurred mostly in the final quarter of the fiscal year, so there wasn't much they could do about it. I was told they have since re-positioned some things to make sure that doesn't happen again.



Because the department prepared for those dips -- the ticket revenue was expected to be low because of a soft home schedule in '15, and the ACC payout was inflated the year before by Maryland’s one-time exit penalty -- FSU's athletics department still was able to generate a surplus of $1.846 million for the year. Once those numbers were combined with Seminole Boosters for purposes of NCAA reporting, however, the university actually showed a loss of $1.877 million.

University officials told Warchant that loss was “on paper only” and it represented items considered to be non-recurring in nature, including lower-than-expected return on some Seminole Boosters investments. They said those are not expected to reoccur during the coming fiscal year. It did not affect the Boosters’ ability to supplement the department’s budget -- they contributed nearly $27.75 million during that fiscal year -- nor did it affect the operation of the department.


Only once in the last 10 years (in 2008) has FSU's endowment out performed the average.

Some follow up details:

https://floridastate.forums.rivals.com/threads/fsu-endowment-growth-or-lack-thereof.137024/

http://allthingsfsu.blogspot.com/2016/08/fsu-endowment-horrible-performance.html

http://extracredit.blog.palmbeachpost.com/2009/02/05/fsu-endowment-drops-more-than-100-million/



It is odd that in the midst of FSU's soon to be billion dollar capital campaign it has LOST ground in endowment rankings.  
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1 comment:

  1. many faced godMarch 27, 2017 at 2:06 AM

    Boring arse home schedules is one reason I wonder if neutral site games actually help us. I'm not saying they're bad; I'm just saying I'm not sure.

    Does playing Alabama in Atlanta net us more money than what we lose by only playing Miami in Tallahassee in 2017 (we also face Louisville who may or may not be a good opponent, but not one we can consistently rely on bi-year after bi-year to help sell out Doak)? I'm talking about the cost of a lost home game, and the cost of cheaper tickets for weaker overall opponents as well as less season ticket sales due to having a weak home slate.

    I'm not surprised by the revenue dip because it was clear it was going to happen. The Orange Bowl paid out the ACC *zero* dollars for 2015-16 since it was a CFP semi-final host site and not the ACC Champ host. That's a $27.5m loss in conference revenue, or roughly $1.83/school (nearly identical to the amount FSU lost? - weird...). I'd like to say I'm appalled by that omission by Warchant, but I'm quite certain the vast majority of FSU media has little clue what they are talking about in regards to FSU, the ACC and revenue, and merely regurgitate everything that FSU/the ACC spoon feeds them.

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    FSU's endowment? A gotdam EMBARRASSMENT. It's literally done jack shiza since BEFORE the great recession. I give them a pass for the immediate year or two during the heart of the great recession as basically everyone took massive hits. But FSU is seemingly one of the few that hasn't been able to right itself since then. It's a quagmire.

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