Sunday, December 12, 2010

Georgia Tech Basketball Attendance Watch: Half Full Stands Mean $75,000 In Lost Revenue

Last week, I mentioned how Georgia Tech may be forced to make a decision on the future of their basketball program much like they did a few years ago with football.

This decision is almost entirely based on revenue the program is generating which is heavily dependent on ticket sales.  Seeing these great pictures from the Georgia-Georgia Tech game I noticed the large amount of open seats in Alexander Memorial Contest for what was easily the best home, non-conference game of the season and equal in interest to most any ACC home game.

247sports.com expounds: "An eye opener was the attendance at this past Tuesday’s game against Georgia. Attendance was only 6725. Two years ago when the same two teams met at Alexander Memorial they drew 8368. Four years ago the game was a sellout. " 

Tickets for the UGA game were between $30-$40 depending on the seat location. The posted attendance of 6,725 left 2,466 empty seats.  Even using a modest average of $35 per ticket (since most of the seats are in the $40 range) $86,310 was left on the table without having a full arena. 

Georgia Tech beat Savannah State this past Saturday, but had an attendance of just 5,436.  At $20 per ticket the amount of potential revenue loss from a sell out is $75,100 based on the Coliseum's capacity of 9,191.  Even if Tech was able to fill 75% of the seats, which should be attainable in an excited fan base,  $45,960 would still be lost to empty seats. 

Just using the last two games, between $132,270-$161,410 was left on the table due to lack of ticket sales.

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