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Media & Entertainment Law

: Sports Biz

Louisville Basketball Rolling in Cash

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The University of Louisville basketball program has been well known for years as a terrific revenue generator.  In fact, for the last several years it has been the highest grossing and highest netting program in the country, however, it outdid itself last year.  The Cardinals had revenue attributed to basketball of      $25,494,904, with expenses of $8,625,245 for a profit of $16,869,659.  That is a profit margin of 66.2% if you're scoring at home.  Oh, and remember, this was while the Cardinals were playing in Freedom Hall, their home for the last 54 years which they said goodbye to this past season as they prepare to move into the new $238 million KFC Yum! Center this fall.  Freedom Hall did not allow the Cardinals to maximize their revenue opportunities as athletic department officials put it during discussions on a possible new arena.

For comparison, and you should really take a look at the whole list, the next highest grossing program was the University of North Carolina with $19,852,544 and a profit of $12,364,115.  That's a large gap for a sport that doesn't generate anywhere near the revenue that football does and in this case, Louisville is generating it from a smaller arena than the Dean Dome, and a conference TV package from the Big East that is allegedly inferior to that of the ACC.  

Full post as published by Sports Biz on June 03, 2010 (boomark / email).

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