I try to keep up with Cy Twins, but his 27,000 post lead may just be too much to overcome.
Iowa Football Recruiting
- Thread starter CyTexMex
- Start date
I try to keep up with Cy Twins, but his 27,000 post lead may just be too much to overcome.
Actually very sad-a life wasted on a keyboard
Vast majority of Iowa State season tickets are $425 per ticket.....for 6 games. Iowa tickets are $405 per ticket......for 7 games.
You do know that all seats in Kinnick except those in the end zones require a minimum contribution per seat don't you?
Still trying to understand how isu can charge more for football tickets and still be $30m behind big bro in revenue.
Yikes, must be isu math.
$425 season tickets require contributions to the Cyclone Club. Our football stadium holds 61,500. Hilton holds 14,356.
Iowa Athletic Department had approximately a $3 million dollar LOSS last year. Iowa State Athletic Department managed a small Profit last year.
Evidently Iowa State is better at math than Iowa.
Do you buy your own tickets with your own money? Or are the gifted from dad, grandpa, or your brother like his $300 jeans?
So why again is isu $30m behind Iowa in revenue?
Hey just assign some of your research folks to amp up their research fraud to make up the gap. That is the isu way isn't it?
We have plenty of revenue to pay our expenses while making significant upgrades to our facilities. And revenue will increase every year.
My research shows that Iowa does not have enough revenues to pay their expenses. Perhaps they are giving away too much pizza and pop to sell tickets.
That's funny. No wonder the isu Business School is so poor. isu should stick to what they are good at, research fraud.
I think you need to get a clue. Here are the budgets for 2017 for Iowa and Iowa St. http://www.iowaregents.edu/media/cms/FY17_Budget_3E6CC458574D2.pdf
Iowa’s budget (Page 14 on link)
-24 million in football ticket sales
-15.2 million in Foundation donations
-7.8 million in premium seat revenues
Iowa St. budget (Page 20 on the link)
-10.5 million in football ticket sales (ISU says they will generate 8.7 million in income from 6 home games, so I am going to be fair and use last years number and what ISU would project for income with 7 home games, 10.5 million)
-14.2 million in foundation support
The “vast majority” of tickets are not being sold for $425 in Jack Trice. If even 25,000 of the seats in Jack Trice were getting $425 a seat for a season ticket that would be 10.6 million in ticket revenues alone for just those 25,000 seats. Lets say ISU averages 55,000 fans again in the seats, you are actually averaging about $190 per ticket sold.
Iowa on the other hand is getting 24 million for lets say a full 70,500 seats (even though that won’t happen). That would still be $340 per seat sold which is 75% more than ISU gets per seat. So if you are just talking ticket sold revenues (no donation or seat license) Iowa is getting more than double what ISU is getting in ticket sales (24 million to 10.5 million)
If you want to take into account seat license and donations Iowa is getting 7.8 million in seat donations, and another 15.2 million in other donations. ISU is getting 14.2 million in donations.
Iowa all told between football ticket sales, seat license and donations takes in 47 million. ISU takes in 24.7.
Yet Iowa still loses almost $3 million on their athletic department. Need to cut back on the Pizza and Pop Promotions used to propel ticket sales.
You literally might be the most clueless poster here. Read and learn about how accounting works and what big time programs top 20 revenue producing program like Iowa do
https://www.goiowaawesome.com/iowa-...f-you-link-to-it-turns-its-pockets-inside-out
"Iowa decided to spend $90 million on renovating its football stadium, because the money is there to do it. Because of that, the Hawkeyes’ athletic department is $3 million 'under water.'" -- but that's not quite right, and understanding why it's not right is how you get to just how absurd Iowa's "profit" figures are.
The Kinnick renovation project, like the $54 million practice facility before it, and the basketball practice facility and covered driving range at Finkbine and the new boat house and the upgrades at Duane Banks before that, are capital improvements. That means, for purposes of accounting, they are generally not one-time expenditures. Instead, Iowa borrows the money for the improvements (or, in the case of the football facility, hits up its donor base for the full amount), builds the improvement, then depreciates it over 10 to 30 years while further expensing the interest on the loan and any maintenance expenses associated with keeping the building in good condition. If the Kinnick improvements are on a 10-year depreciation schedule, that means $9 million a year is hitting the books as expenses while exactly zero dollars actually leave Iowa's bank account to cover it (with an additional $4 million in debt service associated with the project paid out). It's a paper loss with no actual outlay of money. Now extrapolate that over the multitude of facility projects undertaken by Gary Barta, and you can see just how much Iowa's booked "loss" is a figment of an accountant's imagination.
Facility improvements are the best thing a real estate-heavy non-profit can do, largely for this reason, and there might not be a real estate-heavy non-profit in the state doing it on the level that Iowa athletics has over the last decade. Barta's done a great job in that respect.
So the donors give the $90 million, he claims it is all given upfront........then why isn't that $90 million reflected as revenue for the athletic department? The other donations are listed as income. His argument makes no sense.
Go Iowa Awesome??? Is your source for that gem??