Memphis hopes to see revenue from AAC distributions balloon from around $3M to over $8MUNIV. OF MEMPHIS
The Univ. of Memphis athletic department expects its revenue from the AAC to "more than double" under a new media-rights deal that could go into effect in the '20-21 school year, according to Hill & Giannotto of the Memphis COMMERCIAL APPEAL. The AAC is in the sixth year of a seven-year, $126M media-rights deal that it agreed to with ESPN "when the league was founded" ahead of the '13-14 school year. Memphis "expects to receive" about $3.34M in conference distributions from the '18-19 school year and about $5M next year. Memphis AD Tom Bowen tomorrow is scheduled to present a three-year plan to the university's BOT that shows the athletic department expects AAC revenue to increase to $8.5M in fiscal years '21-23. The plan includes two proposals to "help offset increasing expenses and capital projects for the department in future years." One involves "raising student fees at the university," while the other would "increase season ticket prices for football and men's basketball." Some season-ticket prices for football games would rise by more than 70% by the '23 season, and terrace-level seats for men's basketball "would increase from $221 to $363" by '23-24. The athletic department also estimates revenue from men's basketball ticket sales will increase by more than $2M "compared to last year moving forward now that Penny Hardaway is the team's coach" (Memphis COMMERCIAL APPEAL, 3/3).
