Georgia Tech athletics to post $2.1 million surplus (SY17-18)

GTFLETCH

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Six highlights from the article:

1. A year after posting a $2.9 million deficit, the Georgia Tech Athletic Association will come out $2.1 million ahead in its annual budget for the fiscal year that ends June 30.

2. For fiscal year 2018, Tech is to finish with $88.3 million in revenues, almost $4 million over the budget. The department earned $15 million in ticket sales -- $843,000 above the budgeted total – as better-than-expected premium-ticket sales and a successful strategy in the secondary market helped beat projections.

3. Tech also had unbudgeted revenue from the Dream, Atlanta United, Hawks and the NCAA. The Dream and Hawks used McCamish Pavilion as Philips Arena was renovated, the United rented Bobby Dodd Stadium as Mercedes-Benz Stadium was completed and the NCAA gave Tech an honorarium for hosting the NCAA basketball regional at Philips. Tech also raised $605,000 over the anticipated $1.55 million for the A-T Fund.

4. Tech will also take a financial hit in moving from Russell Athletic to Adidas as its apparel provider, as the department will receive $200,000 annually from Adidas compared with $950,000 from Russell.

5. There are also additional expenses for infrastructure and personnel with the planned August 2019 launch of the ACC Network.

6. There is an anticipation of budget surpluses beginning in fiscal year 2020 and beyond, in part because of the expected distributions from the ACC after the launch of the ACC Network.
 

gtg970g

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I would like to know what a "successful strategy in the secondary market" is. Sounds to me like GTAA is selling directly into secondary market which could be financially adventageous but also put screeming mutts in the seats adjacent to mine.
 

fishinjacket

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If Tech fans stop being frugal, we’ll make of the revenue difference with merchandise sales
ehhh...I'll probably just wait until adidas stuff goes on clearance before I stock up, b/c I'm a Tech fan and therefore I'm frugal...
 
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TampaBayJacket

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Sounds like there were some temporary funds and its back to deficit city until that ACC payout goes up.
 

gtrower

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Sounds like there were some temporary funds and its back to deficit city until that ACC payout goes up.
That was a ton a temporary funds though. Not only that but we upgraded some facilities out of the deal (stadium lockerooms).
 

JJacket

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It was a shrewd deal. Yes, the money went down a bit, but we will make it up with all those 4 and 5 star signees that will be flocking to our doorstep for the three stripes.
Die Marke Mit Den 3 Streifn?
 

Akinji07

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It was a shrewd deal. Yes, the money went down a bit, but we will make it up with all those 4 and 5 star signees that will be flocking to our doorstep for the three stripes.
Sarcasm at its finest. Well done. :bigthumbup:
 
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