Is there a beer named Winning?

[koleszar]

Did the report even consider the idea that eliminating the so called subsidy was not such a good idea? That's what it needed to have said.
Loyal

Yes it did. It said without University fully supporting athletics it's imperative additional revenue streams be found. It even said that maybe asking the school to wave the 5.75% interest rate on the loan as an option. But the school apparently balked at the idea. Fact remains whoever does Rutgers accounting and advised Barchi and the BOG that 2021 was a doable date to eliminate Direct Institutional support is an idiot. Then Barchi and the BOG's indifference to move the date compounded the problem athletics now faces.

 

[Loyal_2RU]

Yes it did. It said without University fully supporting athletics it's imperative additional revenue streams be found. It even said that maybe asking the school to wave the 5.75% interest rate on the loan as an option. But the school apparently balked at the idea. Fact remains whoever does Rutgers accounting and advised Barchi and the BOG that 2021 was a doable date to eliminate Direct Institutional support is an idiot. Then Barchi and the BOG's indifference to move the date compounded the problem athletics now faces.

Add to that that athletics it's critical to the university so they freaking of it as a subsidy is fallacious ...

 

[koleszar]

And with this 2027 date doesn’t it just make sense this is one of suggestions “they” came up with?

In another thread on this topic (while stil not a fan) I recalled how I suggested we try this at one of the smaller venues/sports first when we talked about selling beer inside to everybody a few years ago.

For example...now that Lacrosse is using the Stadium and gaining a following why not try it there first to see how it goes?

I could definitely see your point. Make this report available and say see we have no choice but to implement this policy. But now the data is in. Many have had beer for three years now and the problems many feared just haven't occurred. They have a template to follow. But again it's Rutgers maybe they think they can do better and screw it up in the end.

 

[e5fdny]

I could definitely see your point. Make this report available and say see we have no choice but to implement this policy. But now the data is in. Many have had beer for three years now and the problems many feared just haven't occurred. They have a template to follow. But again it's Rutgers maybe they think they can do better and screw it up in the end.

So have we...three spots already for Football and one for Basketball.

Let’s hope as you say the template is there to make this work.

I just don’t think we are going to reap the benefits like some other do on here. We will make a few bucks but it will not be a game changer IMO.

 

[Greene Rice FIG]

Anyone venture a guess on what $ impact we are talking about just looking at MBB and FB

$7 profit per beer sold?
$500 extra secutiry and other cost hoops game
$3,000 extra security and other cost football game

Hoops average 6,500 attendance and 1/3 beer per person (18 games)
Football average 25,000 attendance and 1/2 beer per person (7 games)

Hoops (2,200*$7)=$15,400-$500 = $15,000 ish per game* 18 =$270K
Football (12,500*7)=$87,500-$3,000 = $84,000 ish per game * 7 =$588K

270+588=$858,000 extra

Are any of my estimates bad...am i missing anything?

 

[koleszar]

So have we...three spots already for Football and one for Basketball.

Let’s hope as you say the template is there to make this work.

I just don’t think we are going to reap the benefits like some other do on here. We will make a few bucks but it will not be a game changer IMO.

Like I said a good template to follow is Purdue. In it's 1st year of limited sales net gross $580k. 2nd year in expanded sales $1.1mil. net gross. Not a wind fall by any means but something.

 

[Greene Rice FIG]

What happens when we play Norfolk State in FB and it is 99 degrees and we run out of water in the 2nd quarter

 

[e5fdny]

Anyone venture a guess on what $ impact we are talking about just looking at MBB and FB

$7 profit per beer sold?
$500 extra secutiry and other cost hoops game
$3,000 extra security and other cost football game

Hoops average 6,500 attendance and 1/3 beer per person (18 games)
Football average 25,000 attendance and 1/2 beer per person (7 games)

Hoops (2,200*$7)=$15,400-$500 = $15,000 ish per game* 18 =$270K
Football (12,500*7)=$87,500-$3,000 = $84,000 ish per game * 7 =$588K

270+588=$858,000 extra

Are any of my estimates bad...am i missing anything?

Let’s hope you’re right.

IMO, you’re too low on the costs and too high on the profit numbers.

 

[koleszar]

Anyone venture a guess on what $ impact we are talking about just looking at MBB and FB

$7 profit per beer sold?
$500 extra secutiry and other cost hoops game
$3,000 extra security and other cost football game

Hoops average 6,500 attendance and 1/3 beer per person (18 games)
Football average 25,000 attendance and 1/2 beer per person (7 games)

Hoops (2,200*$7)=$15,400-$500 = $15,000 ish per game* 18 =$270K
Football (12,500*7)=$87,500-$3,000 = $84,000 ish per game * 7 =$588K

270+588=$858,000 extra

Are any of my estimates bad...am i missing anything?

They would fall in line with what Purdue reported as I posted in the above post. So your numbers look approximately correct.

 

[e5fdny]

Like I said a good template to follow is Purdue. In it's 1st year of limited sales net gross $580k. 2nd year in expanded sales $1.1mil. Not a wind fall by any means but something.

If we net 7 figures it would hard for someone like me to complain.

Don’t see it for us. But want to be wrong.

 

[Greene Rice FIG]

If we net 7 figures it would hard for someone like me to complain.

Don’t see it for us. But want to be wrong.

It's almost like do we have a choice?
Alternative is to raise ticket prices and see how price elastic the fan is

 

[koleszar]

If we net 7 figures it would hard for someone like me to complain.

Don’t see it for us. But want to be wrong.

I don't think we get the attendance to reach those 7 figure numbers either. Definitely not in the money maker football.

A big thing to reduce the subsidy is not to have $5.4 mil. of coaches and administrators sitting on their ass doing nothing. Now they'll always be some payouts but $5.4 mil. for what we pay is extraordinarily high.

 

[Greene Rice FIG]

The variability in revenue would really be tied to weather in football. Could have $100K swings in total revenue based on the weather of 1 game.

 

[e5fdny]

It's almost like do we have a choice?
Alternative is to raise ticket prices and see how price elastic the fan is

We have a choice and the decision has been made.

I just don’t think (and again, would like to be wrong) we are going to see something where we go “wow!” when the numbers come back on this.

 

[whofrewdatmataRU13]

Atleast people won't forgo the football games as much to go back and drink at Queens

 

[Greene Rice FIG]

We have a choice and the decision has been made.

I just don’t think (and again, would like to be wrong) we are going to see something where we go “wow!” when the numbers come back on this.

I’d think there has to be at least 500k of revenue or else it would not be worth it.

For those who think we are going to a pay for play tournament this tells you everything you need to know.

 

[ColonelRutgers]

To me, alcohol sales will affect my game day experience negatively, so even if it makes money, doesn’t mean I have no right to complain. We’ve got a deficit/subsidy of $40 million a year. This is not going to solve it. Sorry.

 

[RU_DIO]

I've been to college basketball games where they sold alcohol I didn't really see any different behavior than I have seen at games where they didn't serve alcohol. I can understand peoples reservations though

 

[e5fdny]

To me, alcohol sales will affect my game day experience negatively, so even if it makes money, doesn’t mean I have no right to complain. We’ve got a deficit/subsidy of $40 million a year. This is not going to solve it. Sorry.

I feel the same but will reserve the right to complain to see how it affects my game day experience too.

As of right now I’m a wait and see.