SBD/June 17, 2013/Colleges

FGCU Merchandise Sales Revenue Failed To Pad Budget Following Run To The Sweet 16

Florida Gulf Coast Univ.'s run to the NCAA men's basketball Sweet 16 left cash registers at school stores "ringing at a record pace," but the "run on merchandise didn’t do much to pad FGCU’s budget," according to a front-page piece by Dave Breitenstein of the Ft. Myers NEWS-PRESS. The run "captivated a national audience, and the Eagles were so hot new-found fans waited more than an hour for the opportunity to purchase T-shirts." But a report just issued to FGCU indicated that it will "only collect about $15,000 in royalties from sales of officially licensed merchandise during the first quarter of 2013." FGCU "receives an 8 percent royalty on the wholesale price -- not retail price," and "splits that revenue with Licensing Resource Group." Royalties from Jan. 1-March 31 "totaled $22,017." The school received about $5,298 "in royalties from the same period in 2012." FGCU Business Operations Dir Loren Prive said, "It doesn’t look huge, but when you compare it to last year, it’s much better." Many of FGCU's peer institutions within the state and Atlantic Sun Conference "collect 10 percent royalties." Price said that FGCU "considered moving toward a 10 percent royalty rate, but settled on 8 percent" (Ft. Myers NEWS-PRESS, 6/16).

FLORIDA GULF COAST UNIV. ROYALTY COLLECTIONS
TIME FRAME
AMOUNT
Q1 '12
$5,298
Q2 '12
$5,429
Q3 '12
$13,278
Q4 '12
$8,168
Q1 '13
$22,017

 

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