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
Aug 22, 2014, 3:20 PM EDT
Dominic Woodson is now officially a Tennessee Volunteer.
Aug 22, 2014, 2:37 PM EDT
Aaron Brown averaged 9.9 points per game and shot 39 percent from three last season, and he’ll be eligible to play immediately.
Aug 22, 2014, 1:28 PM EDT
Having stated their intention of appealing the ruling in the Ed O’Bannon lawsuit, the NCAA filed a notice of appeal on Thursday.
Aug 22, 2014, 12:07 PM EDT
Five-star center Tyler Davis becomes Texas A&M’s first commitment, and he’s an important addition for Billy Kennedy.
Aug 22, 2014, 11:15 AM EDT
Austin Hatch, who saw his first action in a Michigan uniform on Saturday, discussed his return to the court on The Today Show.
Aug 22, 2014, 10:30 AM EDT
Upon completion, Hinkle Fieldhouse will have a brand new look while preserving the building’s storied past.
Aug 22, 2014, 9:44 AM EDT
The conference tournament will now span five days, with there being a doubleheader on Wednesday, March 11 (11 seed vs. 14 seed, 12 seed vs. 13 seed).
Aug 21, 2014, 11:06 PM EDT
More than two months after his older brother left the football program, Mickey Mitchell has decided to decommit from Ohio State.
Aug 21, 2014, 10:14 PM EDT
6-foot-7 forward Kevin Puryear was a point forward for his high school team last season.
Aug 21, 2014, 8:45 PM EDT
The Toronto Blue Jays aren’t thrilled with Creighton filing an application to trademark its logo, which was unveiled last September.
Aug 21, 2014, 7:21 PM EDT
Rick Barnes entered last season on nearly every pundit’s “hot seat” rankings, only to turn things around and win 24 games.
Aug 21, 2014, 5:55 PM EDT
Mo’ne Davis is currently focused on winning a LLWS title, but down the line she really wants to run the point at UConn.
Aug 21, 2014, 4:37 PM EDT
Aaron McKie ranks sixth on Temple’s all-time scoring list, and he played 13 seasons in the NBA.
Aug 21, 2014, 3:57 PM EDT
UConn’s league schedule is only getting weaker. They need to beef up in the non-conference.
Aug 21, 2014, 3:19 PM EDT
A quick explanation of why John Calipari can be a great coach without being a great x’s-and-o’s coach.
Aug 21, 2014, 1:45 PM EDT
Do you agree with that ranking?
Aug 21, 2014, 12:46 PM EDT
But would hiring Cremins be a way to get Anthony Johnson the job?
Aug 21, 2014, 10:55 AM EDT
It is absolutely hilarious.
Aug 21, 2014, 10:34 AM EDT
Five points down, 2.8 seconds left, and victorious?
Aug 21, 2014, 9:34 AM EDT
Rozier will be the most important player for Louisville this season.
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