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
Apr 20, 2014, 6:20 PM EDT
The 62nd annual Portsmouth Invitational Tournament wrapped up Saturday night, with former Marquette big man Davante Gardner winning MVP honors.
Apr 20, 2014, 4:50 PM EDT
Houston landed a second junior college transfer Sunday, with Howard College product Eric Weary announcing his decision to commit to the program.
Apr 20, 2014, 4:07 PM EDT
More than three years later, Nick Resavy is still making ridiculous shots.
Apr 20, 2014, 1:51 PM EDT
The electrifying point guard has put his name into the NBA draft.
Apr 20, 2014, 12:51 PM EDT
The Harrison twins are halfway through deciding on returning to Lexington or declaring for the NBA draft.
Apr 20, 2014, 12:02 PM EDT
Garrett becomes the fourth member of the Crimson Tide’s incoming class.
Apr 20, 2014, 11:17 AM EDT
The Cougars landed a former top 100 recruit on Sunday morning.
Apr 20, 2014, 10:30 AM EDT
Just over a week after his appeal to be released from his scholarship at Marshall was granted, Kareem Canty’s decided to transfer to Auburn.
Apr 20, 2014, 9:45 AM EDT
Watch the incoming class showcase their talents in Brooklyn on Friday night.
Apr 20, 2014, 12:58 AM EDT
According to a report, Louisiana Tech’s Michael White is the focus of Tennessee’s search for a new head coach.
Apr 19, 2014, 9:17 PM EDT
A Kentucky fan promised to get a tattoo of Willie Cauley-Stein if the 7-footer returned to Lexington for his junior season. Saturday, Michael Gray followed through.
Apr 19, 2014, 7:36 PM EDT
UNLV has added another player to its 2014 recruiting class, as shooting guard Patrick McCaw verbally committed to the Mountain West program.
Apr 19, 2014, 6:24 PM EDT
Arizona State has made another addition to its roster, landing a commitment from former UNLV forward Savon Goodman.
Apr 19, 2014, 5:45 PM EDT
Forward Zach LeDay has decided to leave the USF program after spending two seasons in Tampa.
Apr 19, 2014, 5:00 PM EDT
New Florida A&M AD Kellen Winslow Sr. has already decided that the basketball program needs a new leader, as head coach Clemon Johnson was relieved of his duties Friday.
Apr 19, 2014, 4:25 PM EDT
Will highly-touted Colombian center Tonny Trocha-Morelos finally be joining the Texas A&M program?
Apr 19, 2014, 2:39 PM EDT
Michigan had some open scholarships following the 2014 NBA Draft departures of Nik Stauskas and Glenn Robinson III and they filled one of those on Saturday with a commitment from senior guard Muhammad Ali Abdur-Rahkman.
Apr 19, 2014, 1:25 PM EDT
Gonzaga will have a very tough non-conference slate during the 2014-15 season.
Apr 19, 2014, 12:10 PM EDT
Two-and-through sounds more and more likely to happen.
Apr 19, 2014, 10:30 AM EDT
Former Marquette commits Ahmed Hill and Satchel Pierce are following former Golden Eagles coach Buzz Williams to Virginia Tech as the duo committed to the Hokies on Saturday morning.
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