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
Oct 21, 2014, 11:00 PM EDT
Stanford’s back court depth took a hit this week.
Oct 21, 2014, 9:45 PM EDT
Suspensions have been handed down for two James Madison players involved in a fall altercation.
Oct 21, 2014, 8:38 PM EDT
Nebraska has been recruiting the state of Illinois very hard and it paid off with a 2016 commitment.
Oct 21, 2014, 8:15 PM EDT
Kansas State has taken a hit to its front court depth this week.
Oct 21, 2014, 7:15 PM EDT
Florida’s backcourt depth received a big boost this week.
Oct 21, 2014, 6:15 PM EDT
Georgia State loses Kevin Ware with a high ankle sprain.
Oct 21, 2014, 6:00 PM EDT
American went from ninth in the Patriot League preseason polls to a No. 15 seed in the 2014 NCAA Tournament. Safe to say, the Eagles will be viewed much differently this time around with four returning starters.
Oct 21, 2014, 5:15 PM EDT
Wyoming becomes a contender in the Mountain West Conference with the return of senior forward Larry Nance Jr.
Oct 21, 2014, 4:15 PM EDT
Clemson added a junior college post that could come in and make an immediate impact.
Oct 21, 2014, 3:06 PM EDT
The Aggies now have one of the best recruiting classes in the country.
Oct 21, 2014, 3:00 PM EDT
American was the surprise team in the Patriot League a season ago. Can they repeat as league champs?
Oct 21, 2014, 2:00 PM EDT
No surprise that Murray State and Belmont are expected to be at the top of the league.
Oct 21, 2014, 1:00 PM EDT
L.J. Rose is expected to return around Christmas.
Oct 21, 2014, 12:00 PM EDT
The Gators are good enough to win the SEC. They have enough question marks to finish outside the top 25 as well.
Oct 21, 2014, 10:08 AM EDT
That fan looks like he’s enjoying things.
Oct 21, 2014, 9:00 AM EDT
These are the players to keep an eye on if you like seeing aerial acrobatics.
Oct 20, 2014, 11:00 PM EDT
Kansas State is losing a redshirt freshman to transfer.
Oct 20, 2014, 10:00 PM EDT
Virginia got a very skilled guard in the 2016 class.
Oct 20, 2014, 9:15 PM EDT
Florida landed an in-state Class of 2015 wing to make it a four-man class.
Oct 20, 2014, 9:00 PM EDT
Memphis found a 2016 guard to join center Nick Marshall in the recruiting class.
- Top 25 Countdown: No. 14 Florida Gators 0
- 2014-2015 Season Preview: College Basketball’s Top 13 Dunkers (VIDEOS) 2
- CBT’s Recruiting Roundup: Washington’s big Monday, Maryland’s insurance, Two 2016 guards off board 0
- Top 25 Countdown: No. 15 Oklahoma Sooners 1
- 2014-2015 Season Preview: Which new coaching hires will succeed? 0
- No longer supplementary pieces, two Texans will lead the way at Weber State 0
- 2014-2015 Season Preview: Weber State won’t lack for challengers in Big Sky 0
- Big Ten writers release media poll, Wisconsin sits atop the league (6)
- 2014-2015 Season Preview: College Basketball’s Top 13 Dunkers (VIDEOS) (2)
- First Preseason Top 25 poll is out, Kentucky sits at No. 1 (2)
- Maryland senior forward suffers sprained ankle (2)
- 2014-2015 Season Preview: Mid-Major Power Rankings (1)