Report: Cancellation of fall football could result in $1 billion loss for B1G
The B1G’s decision to cancel the fall football season may cost the conference nearly $1 billion in revenue this year, according to the New York Post.
That’s billion. With a “B.”
Ryan Dunleavy of the New York Post was able to obtain NCAA fiscal reports that indicate the B1G could lose $1 billion in revenue for canceling the fall football season, which includes $275 million in lost ticket sales for B1G athletic departments.
From the New York Post:
Projected losses are based on adding ticket and parking/concessions revenue from the 2018 season (most recent data available) to this year’s estimated per-school conference membership distribution ($54.6 million), then subtracting travel and gameday expenses. The numbers match the calculations first reported by N.J. Advance Media in July.
For the 13 Big Ten universities whose financial ledgers are public records (excluding Northwestern) the total is about $952 million.
The B1G opted to cancel football and other sports for the fall semester. There is hope that a spring season can be salvaged, and perhaps some of the revenue can be restored if football is played in the spring.
Whether or not there’s a spring season, the B1G is still going to lose a lot of cash.