When the recession hit the United States a few years ago, the $6 billion-a-year behemoth known as the NCAA basketball tournament determined that it would make sense to have the college basketball teams play their first two rounds close to their respective hometowns.
The feeling was that the basketball teams’ fanbase would have the opportunity to drive and attend a game, rather than incur the added expense of flying, hotels and meals. It seemed to be a win-win for fans and the NCAA’s most valuable brand, because there would be more damage done if the television cameras were showing half-filled basketball arenas.
Well, after watching yesterday’s Selection Show announcing this year’s tournament participants, it’s obvious to me that the NCAA feels the recession is long over and the days of alumni shelling out thousands have returned many times over.
What caught my eye immediately was when the University of Maryland men’s basketball team was selected as a well-deserved #4 seed, but then told that it would play its game in Spokane, Wash. I’m sure some of the Terps’ faithful would rather have a lower seed and play closer to home. But, this is not the case.
And, Maryland is not alone. The San Diego Aztecs will travel 2,562 miles to play in Providence, RI. Think that’s bad? It’s not as long as the Saint Mary’s Gaels have to go to play in their game. This team is looking at a distance of 2,679 miles to get to their respective tip off.
All of this flying around and squeezing fans may provide more fodder for those to accuse the NCAA of being greedy, but in my opinion, the NCAA is doing exactly what it needs to do to further increase the value of its franchise. By pushing fans to travel and spend money in these cities, the NCAA can proudly boast that it is “giving back” to regional economies in the form of travel and tourism dollars. The money spent over the four days beginning Thursday will be in the billions, and will be welcome news for every local hotel, restaurant and gift shop.
The NCAA is no fool. They realize that the people who “qualify” for NCAA tournament tickets through their schools are the same people who are funding the athletic scholarships. And, the majority of these fans are not going to be economically hampered by the recession. After all, they’ll most likely spend any amount of money to cheer their teams in person.
You’re going to hear a lot about the high cost of traveling over the next couple of days, and the ridiculous decisions of the NCAA to send teams coast to coast. But, ultimately, the NCAA is a business and the value of their brand is what determines television contracts, particularly now that there is serious discussion about increasing the amount of teams in the tournament.
Don't forget to follow us on Facebook and Twitter for the latest in financial market news, company updates and exclusive special promotions.
P.S. Find out how Maggie Turned $5,000 Into $22 Million (and you could, too!)... By following an unconventional collection of wealth-building secrets, former IRS auditor Maggie Gallagher turned $5,000 into $22 million… even though she never earned more than $3,150 per year in her government job. Get your copy of the Book of Wealth from Wealth Legacy Advisory now.
Other Articles Related To College Basketball:







