Since our athletic department is seemingly in financial dire straits, let's come up with some options to raise money. I know these threads have been started periodically, but given the current situation and that apparently some folks in the AD scan message boards, it's time to put up.
Charge for the Spring Game. Other schools do this. It's not a deal breaker for anyone committed to traveling to Blacksburg, either. Let people know where the money is going and it will make it a lighter lift. $10 for adults, $5 for kids, $20 to park in Lots 1 and 2.
Conservatively:20k @ $10, 5k @ $5, 2500 @ $20 = $275k
Sell Beer and Seltzers at events. It's a proven model. Revenue numbers at similar schools are >$1M, just for football. Profit could conservatively be $500k, likely much higher on an annualized, dept-wide basis
Ask. Send text alerts 3-4 times a year, after big wins or notable events asking for a $10 donation to the Hokie Club. I know I would say yes. Of the 16k members, if 50% commit to half of them, that's $160k.
So there's what could easily eclipse $1M in recurring revenue.
Comments
Don't worry, I'm sure HokieFireman will be here any minute to tell you that the Hokie Club is already doing all of that and that you should have better ideas.
Regarding #1, don't charge to enter the spring game; leave entry as free, charge a $5 donation to stream it.
That may be in the ACCN's hands.
even just call it "suggested donation" instead of a ticket fee. Betcha enough people donate more than 10 bucks to account for those who donate less
Make a push to can Swofford and get the ACCN in better hands and more readily available. This should have been a bigger boost to revenue.
Next hit up Nike for a better apparel sponsorship or find a way to shop it, we are well below the curve there. Become the first school under the Adidas Beyonce brand (only half /s?)
Market the hell out of the Hokie Club, I am still not sure many folks that graduated as recently as 5 years ago and earlier know what it is and what it does.
I believe the Nike deal is through 2023, though somebody correct me if I'm wrong
Hence why I said find a way to shop it, waiting until 2023 is too damn long. Everything is negotiable and the new deal may be worth enough to break the old deal.
That was supposed to be in my OP as well. Not quite as simple as the others, but should be on the short-list of things needing to be addressed.
Copy Clemson's IPTAY.
According to HokieFireman's research and data, we already are
Yea I did a brief look over the IPTAY site and compared to the HC site. I'm going to go ahead and say I think they are a little different.
Well I finally donated!
So honest question, that's $1 mil, what do we do for the other 4 or so mil we need?
1 million handles improving offensive and defensive coordinators staff. We'd probably need almost 2 mil to compete for a top staff.
First recruiting we probably need another 2 mil increase to match top programs recruiting budget and staff.
That leave another million a year to start saving for improvements to facilities, so 4-5 mil increase to support what lots of people want.
I'm not sure we're in the position to look $1-2M in the face and act like it's not good enough. This is low hanging fruit that could easily be made a priority.
If a coaching analyst can be staffed for $175k, and a recruiting analyst at $85k or so, you're talking about adding 3-4 of both with that money alone. Don't tell me that's not going to move a needle.
Larger, capital expenditures should have targeted fund raising campaigns. One of the things I don't like about HC, is that when I make a gift, I'm really only ear-marking it for football. We should have the ability to specify whatever focus areas are - nutrition center, locker rooms, weight rooms, etc. I think you'd get better response on donations than just asking people to throw money in a bucket and hoping it's spent well.
Oh I think a million would help, but the way lots of people talk is we have to compete with Clemson. That's where the larger numbers come into play, and you're going to need people to throw into a bucket like a lot of other schools.
The way college football is going, 1 million a year on extras isnt large capital projects, its keeping up with the jones. Large capital projects start in the 10s of millions.
That's great and all, but VT needs more like $30-$40+ million (with year over year growth) to match it's aspirational peers.
My very real, feasible, non-trivial idea- Whit, get VT's lawyers together and tell Nike to give us a P5 level deal immediately or fuck off. Simple. Any contract can be terminated. Bid Addidas and UA against each other, and tell Nike to give us 5% more than UVA's deal or fuck themselves. Our ridiculous apparel deal is costing us millions in revenue and I'm not joking. Fix this shit show please.
Solid idea
^^^This
We're getting on average <2 mil a year on the deal.
UVA's deal has 500k + the annual increases in funding which will be 3 mil coming up.
Yes, and the swoosh is overrated. 1. Is not helping us recruit obviously and 2. UA and Adidas have up'd their games tremendously the past 10 years. Their uniforms are just as good and they have the special occasion uni's etc. which ironically Nike has tempered a bit recently. BTW- Buzz Williams allegedly was a huge Nike guy and we had to keep Nike because that was a show stopper with Buzz... lol - who promptly went to an Adidas school.