Forbes Study Places Fighting Illini Among Most Valuable Teams
In a season where the Fighting Illini's bid to make the NCAA tournament fell short, a study by Forbes magazine says it's still among the most financially viable college basketball programs.
The team ranked 5th in the magazine's study and tops among Big Ten Conference teams with a value of $20.8 million. Reporter Peter Schwartz analyzed 'dividends' that teams can generate, including money for academics and scholarships, their athletic conference, and their community at large. In Forbes' third annual ranking of the most valuable college basketball teams, Schwartz says the U of I's athletic department was also able to keep costs for basketball down while helping a lot of so-called 'non-revenue' sports like volleyball and tennis.
Schwartz also says being one of the primary attractions of the area doesn't hurt. "There's even more professional sports competition in and around the area as well, but at the same time, being in Urbana and not being in Chicago actually plays to the programs' benefit." says Schwartz. Schwartz says the Illini's most impressive figures include $7-million in gate receipts, and more than $4 million coming from season ticket holders. Schwartz says success on the court also plays a role into a team's financial success. The Fighting Illini are hosting at least one postseason game next week as part of the NIT Tournament. Schwartz says that will help a team, but it's not a deciding factor in its final ranking in the study.
Other Big Ten schools on Forbes' list of the 20 most valuable teams include Indiana, Ohio State, Wisconsin, Michigan State, and Minnesota. Tops on the list was the North Carolina Tar Heels, with a value of $29 million.