Tuesday, April 15, 2008

Tech loses over $200k on the Gator Bowl

Texas Tech lost $202,240 for playing in the 2008 Konica Minolta Gator Bowl. The article goes into detail, but here are the highlights:

- TT had approx 750 people travelling to the game (this number includes the team, band, etc)
- TT received $925k from the Big 12 for playing in Tier 1 Bowl (Big 12 received $2.5 mil from Gator Bowl)
- TT received $199/mile travelled for reimbursement of travel expenses. (1202 miles x $199 = $239,198)
- TT subtracted $74k after ticket sales did not equal the price of complimentary tickets used by the school.
- 68% of expenses were transportation, meals and lodging
- 27 % of expenses were awards and extra compenstation for staff
- 5% of expenses were for promotion, media guides, and misc supplies

A few other significant notes. UT lost about $68k in their trip to San Diego for the Holiday Bowl. Tech AD Gerald Myers said that the Big 12 AD's unanimously recommended that a retroactive expense check be issued to cover the financial burden for schools that are losing money. Myers expects Big 12 presidents to approve the issuing of a check for schools that lost money at their next meeting on May 23rd. However, don't expect them to adjust the reimbursement budget for next season's bowl games.

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