Saturday, July 25, 2020

ACC Revenue issues and FSU leadership have FSU Athletics looking out over a cliff...




https://www.newsobserver.com/sports/spt-columns-blogs/luke-decock/article244461752.html

"According to documents reviewed by USA Today, the Big Ten distributed an average of $56 million to its 14 established members, the SEC distributed an average of $45 million, the Big 12 an average of $38 million and the Pac-12 an average of $32 million."

 https://floridastate.forums.rivals.com/threads/fsu%E2%80%99s-2018-2019-revenue.294008/

Yeah, so that USA Today database is tricky because not every school does their accounting the same way. And if you just go by the total numbers, it can be deceiving.

But of that $150 million in revenue, $8.4 million came in student fees and $7.2 million in "school funds" that they received from the university. And $40 million came from donors.

So more than $55 million was not what you typically would consider "revenue." But that's how the NCAA counts it.

And that $15.6 million -- student feeds and school funds combined -- is what helped FSU break even on paper.

About $20 million came from ticket sales (which is about $5-$6 million less than they want it to be. It was $25-26 million a few years earlier.) Just over $57 million came from "rights and licensing" and almost $19 million came from "other."

Hope that helps.
2 iraschoffel, Jul 18, 2020

If it's the same story I saw, it was a bit misleading. As Ira noted, taking money from sources like the Seminole Boosters to stay afloat should not be considered "revenue" but guess that's how the NCAA looks at it, and how it was reported in the story.

Here's the latest story with real numbers on where FSU athletics stands financially: Schoffel: Before COVID, wild spending already put college sports in peril
3 Dot Com, Jul 18, 2020



https://floridastate.n.rivals.com/news/five-takes-settling-into-fsu-s-new-financial-reality

The writing has been on the proverbial wall for a few years. Florida State athletics is mired in a financial bear market with no end in sight.
Even before the coronavirus pandemic, the Seminoles were struggling to make ends meet -- with Seminole Boosters being forced to liquidate assets to shore up the budget. And while the financials for the 2019-20 academic year have not yet been released, the projected losses for that year are expected to be worse.
This is largely due to another disappointing football season and the cancellation of spring sports. Making matters worse, the ACC continues to produce far less revenue than several other Power 5 conferences. And with limited or no fans in the stands this coming football season due to concerns about the virus, FSU’s coffers will almost certainly be in the red for 2020-21.
During a recent Board of Trustees meeting, it was reported that FSU could face estimated athletic department losses of $27 million for the fall and spring semesters the coming year. That is on top of $4 million in estimated losses due to 2020 spring sports cancellations.
How can Seminole athletics survive this uncertain future? Here are some thoughts on FSU’s new financial reality and what the long-term ramifications could be for football and athletics overall.



at

No comments:

Post a Comment