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.
You can find Kevin on twitter @KLDoyle11
Dec 22, 2014, 7:55 PM EST
Cincinnati head coach Mick Cronin will miss another game as he continues to undergo testing for a brain aneurysm.
Dec 22, 2014, 6:30 PM EST
A former Texas guard transferred to the school he originally pledged to in high school before later re-opening his recruitment.
Dec 22, 2014, 5:54 PM EST
Kethan Savage should change his last name to Posterized.
Dec 22, 2014, 5:45 PM EST
Illinois has to get more offense around Rayvonte Rice before a road-heavy start to the Big Ten season.
Dec 22, 2014, 3:06 PM EST
There are some 86 games on tonight.
Dec 22, 2014, 2:28 PM EST
With conference play right around the corner, who have been the best players in the country?
Dec 22, 2014, 1:41 PM EST
If there’s anything that can ruin Kentucky’s dream of a perfect season, it’s coming from their own locker room.
Dec 22, 2014, 11:54 AM EST
We went an entire week without an unbeaten losing.
Dec 22, 2014, 11:25 AM EST
It’s great that the Rams do this.
Dec 22, 2014, 10:01 AM EST
The Buckeyes are 9-2, dropping both of their key non-conferences games against ranked opponents.
Dec 22, 2014, 9:00 AM EST
Some new faces make their way into the Weekly Awards.
Dec 22, 2014, 6:30 AM EST
The top 12 remain the same, but there was plenty of movement in and around the rest of the top 25.
Dec 21, 2014, 11:09 PM EST
Yeah, you’re going to want to see this.
Dec 21, 2014, 10:31 PM EST
Four of the eight teams in the field reached the NCAA tournament last season.
Dec 21, 2014, 8:22 PM EST
Virginia limited Harvard to 27 points, Maryland won at Oklahoma State, and Georgia picked up a solid home win.
Dec 21, 2014, 7:04 PM EST
Could the Terps be the second-best team in the Big Ten? At the very least they’ve earned their place in the conversation.
Dec 21, 2014, 5:31 PM EST
Harrell was assessed a flagrant 2 foul in Saturday’s win over Western Kentucky.
Dec 21, 2014, 4:42 PM EST
Coaches donning festive holiday sweaters doesn’t happen all that often in college basketball.
Dec 21, 2014, 3:46 PM EST
Brad Stevens left Butler in 2013, agreeing to a six-year deal with the Boston Celtics, but that will not stop his name being linked to one specific college job.
Dec 21, 2014, 1:43 PM EST
Harvard did not set the record for lowest field goal percentage or lowest first-half points, but the Crimson did tie an NCAA record on Sunday afternoon.
- New Year’s Resolutions: Illinois Fighting Illini 0
- NBCSports.com Midseason All-American Team 0
- Kentucky still has one more major test to pass this season and it might not come against Louisville 2
- Tracking The Unbeatens: The showdown between Kentucky, Louisville looms 0
- New Year’s Resolutions: Ohio State Buckeyes 0
- Weekly Awards: Marquette’s new addition, a shakeup in Pac-12’s power structure ? 0
- College Basketball Talk’s Top 25: Virginia moves up, three teams drop out 1
- Report: David Robinson’s son will be preferred walk-on at Duke in 2015-16 (VIDEO) (6)
- No. 1 Kentucky dismantles UCLA (6)
- West Virginia’s Bob Huggins torches Marshall after coach calls Huggs ‘afraid’ (5)
- Lauren Hill’s playing career over, to become honorary coach (3)
- Weekend Preview: A loaded Saturday slate highlights the weekend (3)