News With Commentary by TSL Staff
Friday, June 21, 2002
Hokies Near the Top in BE Football Revenue
The Chronicle of Higher Education has released its annual gender equity survey findings, and the data they collected show that Virginia Tech ranks near the top of the Big East in football revenue and football profits.
The data are from the 2000-2001 season, so the numbers are a year old. The Chronicle's study is geared to show participation in and spending on men's and women's sports at U.S. colleges and universities. They are drawn from reports that colleges and universities that receive federal funds are required to file under the Equity in Athletics Disclosure Act.
While the purpose of the data is to measure a university's level of compliance with Title IX, the 1972 law that mandated overall equity of treatment and opportunity in college athletics for men and women, an examination of the revenue and expense figures contained in the data can lead to interesting analysis on many levels.
Taking a look at the football revenue and expense data for the eight schools that play football in the Big East paints a picture of the financial health -- or lack thereof -- of each school. We find that the Hokies are doing pretty well when compared to their Big East counterparts.
The numbers show that in 2000-2001, the Hokies finished a close third in football revenue at $14.6 million, and second in profits from football at $4.8 million.
The Miami Hurricanes were tops in revenue that year, primarily due to the fact that they were the Big East's entry into the BCS that year. The Big East BCS team makes several million dollars more in bowl revenue than its conference counterparts, thanks to the Big East's revenue sharing agreement.
In 1999, for example, when Tech went to the BCS instead of Miami, the Hokies' football revenue was $15.6 million to Miami's $13.8 million (Syracuse was tops in the Big East in 1999 with $17.3 million in football revenue).
What do the figures mean? Money isn't everything, but it is important if you want your football team and overall athletic program to be competitive in your conference. And in terms of money, the Hokies can compete with anyone in the Big East.
When you factor in the increased revenue that the newly-expanded Lane Stadium will bring in starting next season, the Hokies figure to be among the top-grossing -- and most profitable football programs -- in the Big East for years to come.
Coming Monday in TSL Extra #20: We take a look at some of the other financial data contained in the Chronicle's Gender Equity report and tell you about the explosive growth in Virginia Tech athletic revenue over the last five years.
If you're not a TSL Extra subscriber, issue #20 is a great time to jump on board! Click here to learn more and to subscribe!