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Check the revenue and profit numbers from before the Yum Center was constructed. Louisville was tops in revenue when they played at Freedom Hall. Reason is they have a ticket donation program, sponsorship in a decent market devoid of pro teams and a huge facility.
You can argue one way or the other, but the only thing that matters from a conference standpoint is investment of that revenue. Louisville builds facilities and pays its coaches like a top 10 athletics program in the country. So whether the actual revenue numbers are inaccurate doesn't really matter. They spend, which is all anyone really cares about.
In 2008-9 Louisville was at $56,540, 896 total revenue.
That same year UConn was at $58,446,441.
That was the last year before Ville started rocketing forward in revenue.
The next year Ville went to $63 million (2009-2010) while UConn hit $63 million in 2010-2011.
Louisville meanwhile skyrocketed to $87 million.
That has EVERYTHING to do with the new facilities. There is no other explanation.
Especially when you consider that UConn's sponsorships and licensing (also in a market without pro teams, and a market that is much bigger than Louisville's) is much higher than Louisville's even today: Ville went from $12.6m in 2010 to $16.3 in 2011. UConn was at $24.9 in 2011.
Ticket sales are the story for Louisville jumping so high. You get great support. Back in 2006-07, Louisville got $15m in ticket sales and $13.1 in donations. That same year UConn got $13.5 in ticket sales and $12.1 in donations. The schools were practically even in total revenue, sponsorships, licensing, tickets and donations.
Ville, meanwhile, stayed at that level until football and basketball facilities expansion. It went from $15m in ticket sales to $26.4m in 2011, and from $12.1 in donations to $28.2m in donations. You literally jumped by $27m! In ticket sales and donations, you're literally almost $30 million ahead of UConn compared to where you were half a decade ago. This is much to your advantage.
But in terms of sponsorships and TV rights and licensing, UConn has outdone you (but by a much smaller margin). As you were building your ticket base, UConn was making up some of that $30m deficit by jumping out to a $9 million gain in terms of local TV, sponsorships and licensing. This is why the difference between the schools today (even about half a decade ago) is now $23m.
Lastly, I've said this a number of times on this board, but fans don't really know how these figures are calculated. Schools like Michigan raised money for facilities and then dumped the donations into AD revenues, while paying for facilities through school bonds. This means the private money raised for facilities is counted as athletics revenue. I don't know at all whether UConn has ever done this. I don't know that Louisville has either. But that huge donor jump for you may indeed be comprised in part of a trickle or a regular flow of facility donations. Who can say? UConn after all has also spent a huge amount on facilities (it has the best football training facilities of the entire old BE conference, and they are relatively brand new).
As for this statement ("You can argue one way or the other, but the only thing that matters from a conference standpoint is investment of that revenue") we'll have to disagree since facility investment doesn't come from athletic revenues, but the academic side. So it's not a matter of taking revenues from sports and investing it. The money comes from elsewhere entirely.
I have no idea whether UConn took the many tens of millions in donations for football facilities and included them as donations. I actually tend to doubt it because UConn donations have flatlined for many years at a level which is not very impressive. And we know that a few individual donors ponied up between $4m and $10m, but the donations don't show that. I suspect that this money was used entirely inside the university's general building budget and wasn't counted as athletic revenue at all.
This is largely what the discussion here is about. UConn too could have plowed donations for facilities into athletics revenue. UConn spent $60 million on the Shenkman training center and $48 million on the Burton facility. I forget exactly what the breakdown for these facilities are (i.e. how much was raised in private donations). But if the private money had been dumped into sports, that would have made Uconn look better from a PR standpoint when it comes to sports. Furthermore, if Uconn had dumped its AD revenues into a single sport (as Ville currently does) it would also have been a PR coup.