Monday, March 7, 2011

Georgia Tech Attendance Watch: 2nd Largest Crowd of the Season Watches Final Game Ever in Alexander Coliseum

Georgia Tech defeated Miami on Sunday in the final game ever at Alexander Memorial Coliseum in front of the second largest crowd of the season 8,025. Only the North Carolina game (8,125) drew more.

Still with 1,166 unsold seats, Tech lost about $40,810 in ticket revenue alone not to mention other streams including parking, concessions, and merchandise.

The Miami game puts the lost ticket revenue at around $935,815 for the season. You could probably double this number if you count in seat licenses along with the other revenue streams available at each game.

Although the Yellow Jackets came into the game off a big win Thursday night at Wake Forest, the larger crowd is most likely due to the game being the last at Alexander Memorial Coliseum. Tech brought back numerous former letterman and their families to enjoy their old stomping grounds one last time. The Jackets were even offering tickets for $12 to faculty and staff the week of the game.

While the basketball arena is renovated next season, the Yellow Jackets will play off campus at the Gwinnett Arena and Philips Arena.

Paul Hewitt gets paid around $1.375 million dollars per year with a contract that Tech has the option to roll over one year every March 16. If they do not extend the contract by that date then Hewitt is automatically terminated and he is paid for the remaining five years on his deal. If he is released anytime after March 16 then a sixth year must be paid out.

I do not expect any news to come out of Georgia Tech regarding Hewitt's future until after the Jackets are eliminated in the ACC Tournament (and if they win it then I definitely don't expect any news).

The question Athletic Director Dan Radakovich has to wrestle with is the lack of attendance, and therefore lack of revenue, hurting the program more going forward than the amount paid to Hewitt each year as part of his buyout?

Running total of lost ticket sales revenue:
UGA $86,310 lost without a full arena
Sav. St $24,195 lost without 75% full arena
Mercer $15,980 lost without 75% full arena
Charlotte $22,500 lost without 75% full arena
UNC $37,310 lost without a full arena
Wake Forest $109,515 lost without a full arena
Va Tech $118,895 lost without a full arena
Maryland $102,690 lost without a full arena
Clemson $104,020 lost without a full arena
Florida St $115,115 lost without a full arena
Chattanooga $30,585 lost without a 75% full arena
Virginia $127,890 lost without a full arena
Miami $40,810 lost without a full arena
TOTAL $935,815 in ticket sales alone

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