Menu
Colleges

Memphis Turns Profit In '16-17 Despite Drop In Contributions

Memphis men's basketball is averaging just 6,208 fans per game this season at FedExForumGetty Images

The Univ. of Memphis' contributions to the athletic department during FY '16-17 fell by nearly $1.1M "due to the men's basketball program," and revenue from football dropped by more than $1.4M because of a "decline in ticket sales," according to Mark Giannotto of the Memphis COMMERCIAL APPEAL. However, athletic department officials "tightened their belt on expenses, resulting in a slight profit -- the third time in four years the department has avoided a deficit." Taken together, it meant men's basketball "produced more revenue than football" in the '16-17 school year. This is a "reversal from the year before, when football outpaced men's basketball for the first time in recent memory." During the '16-17 season, announced attendance for men's basketball "hit a 35-year-low when the team averaged 9,622 fans per game." Revenue from basketball ticket sales also "dropped for the third straight year." This season, Memphis is "averaging just 6,208 fans per game at FedExForum." Under coach Tubby Smith, however, overall men’s basketball revenue "rose for the first time" since '13. It was due to an "increase in distributions from the NCAA," in part from hosting a  '17 NCAA tournament regional at FedExForum. Memphis saw its overall revenue from ticket sales drop more than $1.2M in FY '17 compared to '16, and "much of that decrease can be attributed to the football program." With a home schedule that "didn’t include any marquee matchups like the year before," Memphis football collected more than $3.5M in ticket sales during the '16 season. That is almost $1.1M "less than what it earned" in '15 (Memphis COMMERCIAL APPEAL, 2/22).

SBJ Morning Buzzcast: March 18, 2024

Sports Business Awards nominees unveiled; NWSL's historic opening weekend and takeaways from CFP deal

ESPN’s Jay Bilas, BTN’s Meghan McKeown, and a deep dive into AppleTV+’s The Dynasty

On this week’s Sports Media Podcast from the New York Post and Sports Business Journal, ESPN’s Jay Bilas talks all things NCAA. Big Ten Network’s Meghan McKeown shares her insight into the Caitlin Clark craze. The Boston Globe’s Chad Finn chats all things Bean Town. And SBJ’s Xavier Hunter drops in to share his findings on how the NWSL is making a social media push.

Learn more about your ad choices. Visit megaphone.fm/adchoices

SBJ I Factor: Nana-Yaw Asamoah

SBJ I Factor features an interview with AMB Sports and Entertainment Chief Commercial Office Nana-Yaw Asamoah. Asamoah, who moved over to AMBSE last year after 14 years at the NFL, talks with SBJ’s Ben Fischer about how his role model parents and older sisters pushed him to shrive, how the power of lifelong learning fuels successful people, and why AMBSE was an opportunity he could not pass up. Asamoah is 2021 SBJ Forty Under 40 honoree. SBJ I Factor is a monthly podcast offering interviews with sports executives who have been recipients of one of the magazine’s awards.

Shareable URL copied to clipboard!

https://www.sportsbusinessjournal.com/Daily/Issues/2018/02/23/Colleges/Memphis.aspx

Sorry, something went wrong with the copy but here is the link for you.

https://www.sportsbusinessjournal.com/Daily/Issues/2018/02/23/Colleges/Memphis.aspx

CLOSE