Just about every business in the country in the struggling because of the nationwide lockdowns. Unfortunately, those lockdowns could have a severe cost for college football.
According to ESPN, the Power Five alone could lose upwards of $4 billion in revenue from football if the 2020 season is canceled outright. At least $1.2 billion would be lost from ticket sales, while the 65 schools would lose an average of $62 million each.
ESPN’s data further showed that nearly half of all athletic department revenue came from football in the past two years. Fourteen percent of that revenue is from ticket sales – the most likely casualty of a normal college football season.
Of course, bigger programs like Alabama, Michigan, Texas and Ohio State might lose significantly more than the averages. Each of those schools brought in over $150 million in total revenue from according to their 2017-18 finances via USA Today.
(Washington University in St. Louis director sports business Patrick) Rishe estimates that the 65 Power 5 schools would collectively lose more than $4 billion in football revenues, with at least $1.2 billion of that due to lost ticket revenue. Each Power 5 school would see at least an average loss of $62 million in football revenue, including at least $18.6 million in football ticket sales, he said.
We’ve already seen a number of programs outside of the Power Five shut down various athletic programs due to budget cuts from lost revenue.
As you can see, the survival of some sports (and the scholarships that may go along with them) may depend on football being brought back in any way, shape or form.
Does the cost of canceling the 2020 college football season outweigh the risk of playing?