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+---- Thread: WVU to make $80 million over 12 years re Tier 3 rights (/thread-639639.html)
WVU to make $80 million over 12 years re Tier 3 rights - Theodoresdaddy - 07-11-2013 03:02 PM
not too shabby
West Virginia University officials announced Thursday that the school's Tier 3 media rights have been awarded to IMG College. The agreement takes effect for the 2013-2014 academic year and will pay WVU more than $80 million over 12 years, with additional revenue sharing opportunities possible, officials said.
Under the partnership, IMG College will manage things like local radio and TV broadcasts and coaches shows; websites and social media accounts; advertising on signage at Milan Puskar Stadium, the Coliseum and other athletic facilities; game day promotions and hospitality; and printed publications like schedules and media guides. IMG will station a team dedicated to WVU in Morgantown, officials said.
"It was time for WVU Athletics to grow our multimedia and sponsorship sales, especially with our recent move to the Big 12 Conference," said WVU Director of Athletics Oliver Luck. "With the resources, services and proven track record that IMG College brings, WVU now has the opportunity to expand its revenue base by engaging new national sponsors while building our athletic and university brand. I'm extremely pleased with this move."
WVU will keep some current sponsorship agreements for things like athletic apparel, beverage service, financial services and health care, according to a news release from the university.
http://www.wboy.com/story/22816670/wvu-awards-tier-3-media-rights-to-img-college
RE: WVU to make $80 million over 12 years re Tier 3 rights - oklalittledixie - 07-11-2013 03:04 PM
Good news for WVU. Welcome to the big time.
RE: WVU to make $80 million over 12 years re Tier 3 rights - OrangeCrush22 - 07-11-2013 03:07 PM
You know what 80 divided by 12 is?
RE: WVU to make $80 million over 12 years re Tier 3 rights - ilovegymnast - 07-11-2013 03:09 PM
(07-11-2013 03:07 PM)OrangeCrush22 Wrote: You know what 80 divided by 12 is?
Devil school !!!
RE: WVU to make $80 million over 12 years re Tier 3 rights - bullet - 07-11-2013 03:15 PM
(07-11-2013 03:02 PM)Theodoresdaddy Wrote: not too shabby
West Virginia University officials announced Thursday that the school's Tier 3 media rights have been awarded to IMG College. The agreement takes effect for the 2013-2014 academic year and will pay WVU more than $80 million over 12 years, with additional revenue sharing opportunities possible, officials said.
Under the partnership, IMG College will manage things like local radio and TV broadcasts and coaches shows; websites and social media accounts; advertising on signage at Milan Puskar Stadium, the Coliseum and other athletic facilities; game day promotions and hospitality; and printed publications like schedules and media guides. IMG will station a team dedicated to WVU in Morgantown, officials said.
"It was time for WVU Athletics to grow our multimedia and sponsorship sales, especially with our recent move to the Big 12 Conference," said WVU Director of Athletics Oliver Luck. "With the resources, services and proven track record that IMG College brings, WVU now has the opportunity to expand its revenue base by engaging new national sponsors while building our athletic and university brand. I'm extremely pleased with this move."
WVU will keep some current sponsorship agreements for things like athletic apparel, beverage service, financial services and health care, according to a news release from the university.
http://www.wboy.com/story/22816670/wvu-awards-tier-3-media-rights-to-img-college
Its $30 million less over 12 years than they got the first time before the lawsuit by one of the losing bidders (Claiming improper communications with the winning bidder violating state bidding rules). They are keeping some rights to themselves or didn't feel they had time to bid them right now with the time constraints.
RE: WVU to make $80 million over 12 years re Tier 3 rights - john01992 - 07-11-2013 05:12 PM
all the money these schools make with the b12 individual tier 3 BS is gonna hurt them down the road.
the b10 made 7.6 mill & 8.1 mill per school in the last 2 years
how much does isu make? not much......
how much does texas make.....
15 mill per year
besides the loss of name branding that disparity is gonna bite the b12 in the ass down the road
RE: WVU to make $80 million over 12 years re Tier 3 rights - oklalittledixie - 07-11-2013 05:20 PM
(07-11-2013 05:12 PM)john01992 Wrote: all the money these schools make with the b12 individual tier 3 BS is gonna hurt them down the road.
the b10 made 7.6 mill & 8.1 mill per school in the last 2 years
how much does isu make? not much......
how much does texas make.....
15 mill per year
besides the loss of name branding that disparity is gonna bite the b12 in the ass down the road
But that would be the case in any conference.
RE: WVU to make $80 million over 12 years re Tier 3 rights - Theodoresdaddy - 07-11-2013 09:03 PM
(07-11-2013 03:07 PM)OrangeCrush22 Wrote: You know what 80 divided by 12 is?
they don't teach math at WVU-what is it?
RE: WVU to make $80 million over 12 years re Tier 3 rights - Chris02M - 07-11-2013 09:09 PM
(07-11-2013 09:03 PM)Theodoresdaddy Wrote:(07-11-2013 03:07 PM)OrangeCrush22 Wrote: You know what 80 divided by 12 is?
they don't teach math at WVU-what is it?
6 and 2/3 burning couches
RE: WVU to make $80 million over 12 years re Tier 3 rights - Theodoresdaddy - 07-12-2013 10:59 AM
(07-11-2013 09:09 PM)Chris02M Wrote:(07-11-2013 09:03 PM)Theodoresdaddy Wrote:(07-11-2013 03:07 PM)OrangeCrush22 Wrote: You know what 80 divided by 12 is?
they don't teach math at WVU-what is it?
6 and 2/3 burning couches
I don't know where you buy your couches but I don't think too many of them cost $6.6 million
RE: WVU to make $80 million over 12 years re Tier 3 rights - Kittonhead - 07-12-2013 11:04 AM
(07-11-2013 05:12 PM)john01992 Wrote: all the money these schools make with the b12 individual tier 3 BS is gonna hurt them down the road.
the b10 made 7.6 mill & 8.1 mill per school in the last 2 years
how much does isu make? not much......
how much does texas make.....
15 mill per year
besides the loss of name branding that disparity is gonna bite the b12 in the ass down the road
The B12 is probably going to go the way of the old BE football conference once Texas & Oklahoma leave.
Even without Texas & Oklahoma it should still be a contract conference and worth something like the 13.8 million that the BE was going to receive before being picked apart. They will probably reload with Cincinnati, Memphis, Tulsa and Houston and keep those schools out of the hands of the AAC or MWC. They'll be a contract conference but they won't play the SEC in the Sugar but the Cotton vs. at-large with the SEC teaming up with the ACC.
RE: WVU to make $80 million over 12 years re Tier 3 rights - CardinalJim - 07-12-2013 11:12 AM
Congrats This is good news for WVU. The extra money helps.( UofL made 7.5 a year as far back as 2007. It is well over 10 million a year now.) This money will help new facilities get built.
Again Congrats.
CJ
RE: WVU to make $80 million over 12 years re Tier 3 rights - bitcruncher - 07-12-2013 11:29 AM
(07-11-2013 03:07 PM)OrangeCrush22 Wrote: You know what 80 divided by 12 is?You need to look at this from a different angle...
First of all, the deal is 12 years ---- $80 million + other revenue sharing opportunities. So the end total could greatly exceed the $80 million total quoted...
Here's a breakdown of WVU's future revenue...
Quote:In 2013-14, WVU stands to make approximately $28.1 million. That takes into consideration the IMG contract ($6.6 million), the incidental revenue not covered under the IMG contract (beer sales, apparel, some advertising - $3-4 million), and the 67% take from the Big 12 conference ($262 million / 10 teams = $26.2 million x .67 = $17.5 million).WVU is making as much on their tier 3 contract as The BEast used to pay out in conference shares. WVU has also retained a few revenue streams that were included in the original tier 3 contract with IMG that was voided by John Raese's lawsuit, which more than makes up for the discrepancy between the 2 contracts (the original voided contract, and the one signed yesterday)...
In 2014-15, when the Mountaineers' take from the Big 12 rises to 85%, the total take for the year should be somewhere around $33 million.
In 2015-16, when WVU is fully vested in the Big 12 and the take is 100%, the total athletic department revenue will be somewhere in the neighborhood of $37 million.
None of these estimates take into consideration the money WVU will make from bowls, NCAA basketball tournament appearances, etc.
It’s mind blowing, really, when you consider that WVU was taking home…what? $7 million a year from the Big East? So, any way you cut it, this is some serious JACK.
RE: WVU to make $80 million over 12 years re Tier 3 rights - jaminandjachin - 07-12-2013 11:57 AM
"None of these estimates take into consideration the money WVU will make from bowls, NCAA basketball tournament appearances, etc."
That 262 million is total revenue which would include bowls and NCAA Tournament revenue
RE: WVU to make $80 million over 12 years re Tier 3 rights - bitcruncher - 07-12-2013 12:07 PM
(07-12-2013 11:57 AM)jaminandjachin Wrote: "None of these estimates take into consideration the money WVU will make from bowls, NCAA basketball tournament appearances, etc."No. It isn't...
That 262 million is total revenue which would include bowls and NCAA Tournament revenue
The $262 million is revenue not including post season appearances. Post season revenue varies by year (# bowl teams, bowls, #NCAA tourney teams, how far they go in the tourney, etc). It's very difficult to quantify a variable in exact monetary terms - which is why it's not included in the sum total for the contract. That revenue is added on top of the sum total...
RE: WVU to make $80 million over 12 years re Tier 3 rights - jaminandjachin - 07-12-2013 12:29 PM
(07-12-2013 12:07 PM)bitcruncher Wrote:(07-12-2013 11:57 AM)jaminandjachin Wrote: "None of these estimates take into consideration the money WVU will make from bowls, NCAA basketball tournament appearances, etc."No. It isn't...
That 262 million is total revenue which would include bowls and NCAA Tournament revenue
The $262 million is revenue not including post season appearances. Post season revenue varies by year (# bowl teams, bowls, #NCAA tourney teams, how far they go in the tourney, etc). It's very difficult to quantify a variable in exact monetary terms - which is why it's not included in the sum total for the contract. That revenue is added on top of the sum total...
I know that. That's why they release the numbers every single year. So the Big 12 just distributed 198 million to the conference and in one year will distribute an extra 64 million?
RE: WVU to make $80 million over 12 years re Tier 3 rights - USAFMEDIC - 07-12-2013 01:03 PM
(07-11-2013 03:07 PM)OrangeCrush22 Wrote: You know what 80 divided by 12 is?Still a lot of money....
WVU to make $80 million over 12 years re Tier 3 rights - DeacKillsaDevil - 07-12-2013 01:30 PM
Is it the same amount every year or does the annual payout escalate each year?
RE: WVU to make $80 million over 12 years re Tier 3 rights - bitcruncher - 07-12-2013 02:44 PM
The contracts that WVU kept apart from this deal (Nike, Coca-Cola, Gatorade, United Bank, WVU Hospitals, etc) will be up for renewal in the near future. I seriously doubt the numbers from those contracts will decrease...
RE: WVU to make $80 million over 12 years re Tier 3 rights - john01992 - 07-12-2013 02:54 PM
(07-12-2013 02:44 PM)bitcruncher Wrote: The contracts that WVU kept apart from this deal (Nike, Coca-Cola, Gatorade, United Bank, WVU Hospitals, etc) will be up for renewal in the near future. I seriously doubt the numbers from those contracts will decrease...
yeah if you wanna count stuff like that dont forget michigan's 60 million addias contract or their 2 million a year for hockey. odds are that whatever wvu manages to rack up in non tv money, most bcs schools will be able to rack up just as much or more