Forbes on article Big East's finances and more
Posted: Thu Nov 15, 2018 11:37 am
Really well written article with financial info provided. I included a couple of interesting points:
https://www.forbes.com/sites/jppelzman/ ... 19d93b58ac
https://www.forbes.com/sites/jppelzman/ ... 19d93b58ac
The conference received over $31.5 million in rights fees from FOX in 2015 and more than $32.8 million in 2016, according to tax records obtained by Forbes.com. Figures for 2017 were not available.
Ackerman said other revenue streams include ticket sales and sponsorships, noting “we have ancillary streams from our tournament, which is sort of a high-cost event.”
In 2016, the conference paid out more than $28.6 million to its members to help them run their programs, and retained $847,564 for itself, according to tax records.
“We don’t have football distractions,” Ackerman said, “but we don’t have football revenue either, and that does set us apart from the leagues that we’re competing against for coaches and for facilities development and ultimately for student-athletes.”
What about potential expansion? Some have speculated that Connecticut, which has a faltering FBS football program, might want to come home to the Big East.
“A number of schools have directed interest to us,” Ackerman said. “I’ll leave them unnamed. … But at this point, our schools are really happy with 10 and in part because they really like the double round-robin” conference schedule.
She added, “We are (happy with 10). We have talked about expansion at board meetings and within our AD group. The school kind of has to be the perfect fit. It’s not a casual conversation. It’s do they fit, do they share our focus on basketball, do they want to be with us long-term? Because nobody here is going anywhere.”