Knight Moves: Texas Tech Benefiting From HOF Hoops Coach

Knight (r) Helping Boost Texas Tech’s Bottom Line

Texas Tech Univ.’s (TTU) men’s basketball program has become a “big-money business” since hiring coach Bob Knight in ’01, “doubling [its] revenue stream and significantly beefing up its bottom line during his tenure,” according to Tim MacMahon of the DALLAS MORNING NEWS. Documents show the program produced a profit of $386,523 in FY ’00 under former coach James Dickey, but the profits have been “more than quadruple that figure each of the last three fiscal years and cleared seven figures the last four.” It peaked at over $1.9M in FY ’04. Donations to TTU’s Red Raider Club and licensing revenue “have also increased dramatically during Knight’s tenure, although the football program’s success played a large role in that.” TTU season-ticket sales and seat options “have produced much more revenue” since Knight was hired. Total revenue from ticket sales and seat options in United Spirit Arena’s inaugural year of ’99 was $717,546, but that “soared to more than $2[M] last year, including $232,000 from options for courtside seats added after Knight’s arrival” (DALLAS MORNING NEWS, 3/14).

TECH-NICALLY SPEAKING: TTU AD Gerald Myers yesterday unveiled to the Board of Regents a plan to “immediately add 10,000 seats to Jones AT&T Stadium and a five-story building for club, retail and suite space, for an estimated $40[M], as well as [$14-21M] in upgrades for baseball and softball facilities.” However, there were “few indications of where the money would come from,” an issue that has “stymied earlier projects” (LUBBOCK AVALANCHE-JOURNAL, 3/14).