The revenue from college basketball can be very profitable for most universities. Especially the ones that are good enough to make it to the NCAA tournament.
The University of North Florida men’s basketball team was a part of “March Madness” for the first time last season. They were knocked out in the first round, but it still made a major financial impact to the school.
According to the Florida Times-Union, the Atlantic Sun tournament champs have seen merchandise sales increase nearly 47 percent in the last year.
UNF Business Services reported that retail sales of UNF merchandise from all sources saw a 46.8 percent jump in the past year from $1.01 million in 2014 to $1.48 million in revenue in 2015, up by $473,860. Bookstore sales of merchandise alone increased 28 percent in the past year going from $673,735 to $862,434, a 28 percent increase, and that’s still only about 20 percent of total bookstore sales.
With numbers like that you can be sure coach Matthew Driscoll and his staff are working very hard to return to the tournament next year.
College basketball will start back up in November. The Ospreys open with a trip to Illinois to take on the fighting Illini on November 13th.
*Featured Photo (above) credit to USA TODAY Sports