Jun 16, 2013, 11:40 AM EST
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.
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Late Night Snacks: Florida, Xavier, West Virginia earn good road wins; VCU rolls past George Washington
Jan 27, 2015, 11:35 PM EST
Xavier and West Virginia earned nice conference road wins while VCU rolled over George Washington.
Jan 27, 2015, 11:16 PM EST
Florida needed this win badly. Dorian Finney-Smith dunked them there.
Jan 27, 2015, 10:55 PM EST
Wyoming’s Riley Grabau banked in a buzzer-beater from long distance to end the first half against Utah State.
Jan 27, 2015, 10:15 PM EST
Virginia Tech’s Adam Smith is Tuesday night’s hero.
Jan 27, 2015, 7:15 PM EST
South Florida is still without its most productive player after after he went into the hospital with chest pains this weekend.
Jan 27, 2015, 6:00 PM EST
Colorado gets another guard in the 2016 class.
Akron to play second-annual ‘Purple Out’ in purple uniforms to help raise pancreatic cancer awareness
Jan 27, 2015, 5:00 PM EST
Akron is having its second-annual “Purple Out” against Ball State to help raise pancreatic cancer awareness.
Jan 27, 2015, 4:00 PM EST
You sometimes forget just how good some of the Duke guards were throughout the years. Here’s a reminder.
Jan 27, 2015, 3:33 PM EST
Hugh Greenwood made headlines last week for responding to an online troll.
Jan 27, 2015, 2:16 PM EST
Coach K is the best.
Jan 27, 2015, 1:40 PM EST
It should be an entertaining night for college hoops.
Jan 27, 2015, 12:00 PM EST
Can you guess who the most important player in program history was?
Jan 27, 2015, 10:59 AM EST
Justice started seven games this season.
Jan 27, 2015, 9:16 AM EST
DePaul may have to reschedule their trip to Providence.
Jan 26, 2015, 11:45 PM EST
North Carolina and Iowa State earned conference home wins on Monday night.
Jan 26, 2015, 11:22 PM EST
Iowa State bounced back from a loss against Texas Tech with a big home win over Texas.
Jan 26, 2015, 10:00 PM EST
UCLA should get a boost in practice with the addition of a four-star freshman forward to its roster.
Jan 26, 2015, 9:00 PM EST
BYU might be without a key frontcourt piece for the rest of the season.
Jan 26, 2015, 8:00 PM EST
The son of a former NBA veteran is moving on to a CAA program from Wake Forest.
Jan 26, 2015, 6:54 PM EST
Washington loses one of the most talented shot blockers in the nation.
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- Kentucky lands commitment from international Class of 2016 big man 4
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- Two former North Carolina athletes sue school, NCAA over academic scandal (4)