Jun 16, 2013, 11:40 AM EDT
The Florida Gulf Coast men’s basketball team put not just their program, but school on the map advancing to the Sweet 16 in the 2013 NCAA Tournament. It’s impossible to put a price on the kind of exposure and earned media the school from Fort Myers — established just over 20 years ago in 1991 — received due to their magical run beating Georgetown and San Diego State convincingly.
When the cash registers officially closed and numbers tallied, Florida Gulf Coast only cashed out on about $15,000 in royalties from sales of officially licensed merchandise in the first quarter of 2013.
$15,000 doesn’t seem like a whole lot, right? Here’s how FGCU’s payday shakes out:
FGCU receives an 8 percent royalty on the wholesale price — not retail price — of officially licensed merchandise, and splits that revenue with Licensing Resource Group. A T-shirt that sells for $20, for example, may only carry a wholesale price of $5, which would generate a royalty of 40 cents. LRG’s cut would be 14 cents, leaving just 26 cents for FGCU. For the period that ran Jan. 1 to March 31, royalties totaled $22,017 on $293,119 of wholesale sales, the vast majority coming from apparel sales.
When compared to the $5,298 in royalties from the first quarter in 2012, Loren Prive, FGCU’s director of business operations, commented: “It doesn’t look huge, but when you compare it to last year, it’s much better.”
While the increased royalties FGCU received is certainly a nice boost, it pales in comparison to larger schools and athletic programs around the country. The University of Florida, for instance, brought home $6.3 million in licensing royalties from July, 2011 to June, 2012.
Ultimately, the real money to be made from their NCAA Tournament success is from a stark increase in high school students applying to the school. From an ESPN article in late March:
From March 21 to March 25, unique visitors to the admissions page on FGCU’s website leaped from 2,280 to 42,793. Overall visits to the school’s website topped out on Monday at 230,985, not counting the 117,113 who went directly to the athletics page. In the month leading up to FGCU’s advancing to the Sweet 16, visitors to the website had seen a daily count as low as 18,863.
You can find Kevin on twitter @KLDoyle11
Former Illinois women’s basketball players file lawsuit against athletic director, head coach and former assistant
Jul 1, 2015, 6:45 PM EDT
AD Mike Thomas stated in May that there would be an investigation into the allegations.
Jul 1, 2015, 5:03 PM EDT
KD, Stephen and Russ lead the way, and two of those three weren’t even ranked coming out of high school.
Jul 1, 2015, 4:50 PM EDT
Cal already has two members of its 2015 class on campus, and they added another to the mix Wednesday.
Jul 1, 2015, 3:54 PM EDT
He’s currently teammates with a soon-to-be Oregon Duck. Hmm …
Jul 1, 2015, 1:53 PM EDT
That makes three commitments in 24 hours for Cincinnati.
Jul 1, 2015, 12:30 PM EDT
Terrence Samuel was recruited over at UConn.
Jul 1, 2015, 11:24 AM EDT
Kansas is in South Korea repping the USA in the World University Games.
Jul 1, 2015, 10:00 AM EDT
Minnesota head coach Richard Pitino gave his take on the situation surrounding Jarvis Johnson.
Jul 1, 2015, 9:00 AM EDT
Missouri is missing sophomore forward Montaque Gill-Caesar from summer workouts.
Jun 30, 2015, 10:00 PM EDT
Virginia has some talented backcourt pieces committed in the 2016 class.
Jun 30, 2015, 9:00 PM EDT
Kansas head coach Bill Self had the jumper going before practice in South Korea.
Jun 30, 2015, 8:00 PM EDT
Cincinnati landed a big man target right before the July live period.
Jun 30, 2015, 7:03 PM EDT
Shaka Smart landed the brother of a recent NBA draft pick.
Jun 30, 2015, 5:45 PM EDT
Should I mention he throws the ball off the backboard to himself?
Jun 30, 2015, 4:30 PM EDT
One of the best passers in the Class of 2016, Howard Washington, committed to Butler on Tuesday.
Jun 30, 2015, 3:35 PM EDT
Rick Barnes spoke publicly for the first time about accusations levied against Texas.
Jun 30, 2015, 2:30 PM EDT
A very weak class has some decent guards.
Jun 30, 2015, 1:48 PM EDT
Sindarius Thornwell and TeMarcus Blanton both underwent surgery this offseason.
Jun 30, 2015, 11:55 AM EDT
Harry Giles and Jayson Tatum led the way for the Americans.
Jun 30, 2015, 11:26 AM EDT
Cal’s name seems to always pop up in the NBA.
- Re-ranking the recruiting classes: Who are the 25 best players from the Class of 2006? 0
- Re-ranking recruiting classes: Who are the 25 best players from the Class of 2005? 1
- Re-ranking recruiting classes: Who are the 25 best players from the Class of 2004? 2
- Bo Ryan to retire from Wisconsin after next season 4
- Who are the names to watch for the 2016 NBA Draft? 2
- 2015 NBA Draft: The six biggest question marks moving forward 5
- 2015 NBA Draft: Pat Connaughton, Montrezl Harrell headline list of second round steals 0
- UPDATED: 2015-2016 College Basketball Way-Too-Early Preseason Rankings (18)
- Cliff Alexander, Aaron Harrison among early entrants not selected Thursday night (6)
- 2015 NBA Draft: The six biggest question marks moving forward (5)
- Jamal Murray’s commitment a huge boost for Kentucky (4)
- Bo Ryan to retire from Wisconsin after next season (4)