Big time college sports are among the most effective promotional tools available. A televised game is a three hour advertisement with the name of the product announced to the audience repeatedly. This infomercial for the two universities involved has the impact of cementing relations with existing fans and alumni with the benefit of also hitting potential applicants which is easily seen by the flood that Virginia Tech received after Michael Vick put them on the map.
Bobby Petrino's recent contract for $2.5 million per year for the next ten years with the University of Louisville when seen in the light of the manager of a significant part of the university’s marketing program maybe a bargain. The job of football head coach is one that involves being a teacher, operations manager, personal manager, and spokesperson. Failure in any one of those areas and the Mayflower truck may be parked in front of your house.
Louisville has a very well know and profitable men’s basketball program generating $18,523,619 in gross revenue netting $13,108,283. The football team generated $11,036,267 in gross revenue netting $2,048,120. With entry into the Big East and therefore the BCS the football team has tremendous upside with the revenue from basketball giving them the freedom to make this move. Further, Louisville is currently ranked #37 ahead of Arizona and Kansas State and close behind Maryland in football revenue with considerable upside.
This deal make sense when you look at the dollars.