GTFLETCH
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Link (Paid Site)
https://www.myajc.com/sports/colleg...O/?utm_medium=social&utm_source=techsports_fb
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.
https://www.myajc.com/sports/colleg...O/?utm_medium=social&utm_source=techsports_fb
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.
