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You have to look at the entire package a team represents and how that benefits the conference doing the selecting. TV Markets and cable subscribers are still a factor to The B1G. They can still add value when negotiating their linear TV Deals, and provide direct revenue for the conference as they maintain an ownership stake in The BTN.I think people are focusing way too much on markets. Washington and Oregon bring more eyeballs to football games than any of UNC, UVA, GT or Miami. Miami probably tops the list of those four. There are other factors, including demographics, distance and a desire to recruit HS students (and football players) in those fast growing states. But TV markets? That isn't what's driving things anymore. UCLA and USC were desired because they (especially USC) bring eyeballs to games nationwide. Not because people in LA watch a lot of college football (they don't). It is a critical recruiting ground though. Stanford is not only not in a fertile recruiting ground, the Bay Area has even less interest in college sports than LA does.
This market stuff is like evaluating Taylor Swift because she brings the south-eastern Pennsylvania market. Alabama isn't valuable because it "brings the Huntsville and Mobile markets".
The primary driver behind further western expansion will likely have as much or more to do with not leaving USC/UCLA on an island than it will with overall viewership. Demographic shifts are a major concern for The B1G and they are very interested in being able to plant a flag in growing areas in the south and west.