Take a look at Kristi Dosh’s breakdown of ACC athletic finances. It’s not a pretty picture, at least in comparison to the conference’s – and Georgia Tech’s – next door neighbor.
From a conference standpoint, Tech actually comes off favorably in terms of football revenues, ranking third in the ACC behind Virginia Tech and Clemson. But the end result is grim.
Athletic Dept Profit Univ. of Virginia $10,971,219.00 Virginia Tech $7,874,833.00 Univ. of Miami $5,247,495.00 North Carolina State $3,155,910.00 Clemson Univ. $1,442,057.00 Boston College $1,211,197.00 Wake Forest University $888,960.00 Duke Univ. $442,226.00 Univ. of North Carolina $238,644.00 Univ. of Maryland $223,424.00 Georgia Tech $138,659.00 Florida State Univ. $0.00
Hewitt shouldn’t rest easy, though. There’s a new component scheduled to kick in which isn’t reflected in those numbers.
One thing to note, however, is that revenue in the ACC should spike in 2011 under a new television contract with ESPN. The ACC currently averages $66.9 million per year under a contract that ran through the 2010 season. Under the new ESPN contract, the ACC will average $155 million…
That works out to about $7.34 million in new income for each team. Hewitt’s buyout is reportedly in the neighborhood of $7 million. You do the math. (The interested parties on the Flats already have, I’m sure.)
In any event, Tech football is comfortably paying its way, with over a $9 million profit, per Dosh’s numbers. That pales in comparison to the $52+ million profit Georgia’s football program racked up, but no doubt Mark Bradley can explain why that’s further proof of Paul Johnson’s prowess as a head coach.