Money

This topic contains 5 replies, has 3 voices, and was last updated by  TMH 8 years, 8 months ago.

Viewing 6 posts - 1 through 6 (of 6 total)
  • Author
    Posts
  • #5434

    TMH
    Participant

    In addition to the vast recognition Lehigh will receive Friday night, there is the matter of money. Does anyone know what the first round guarantee is this year and how it gets allocated among the Patriot League members? Does the same hold true for the NIT?
    BTW, I was told that the year after Bucknell beat Kansas their applications went up about 50%. Perhaps magic really can repeat itself.

    #5472

    TMH
    Participant

    In case anyone is interested, I did a bit of research on this topic and found that Lehigh’s win last night has some long term implications for the Patriot League and perhaps Lehigh in particular.
    Money is awarded to a conference based on the # of games played. I Believe the current amount is about $250,000 and is paid for 5 years or a total of 1.5 mil. Although the amount is adjusted annually, the win over Duke will add an additional $250,000/yr or 1.5 mil through 2017. The benefit of Bucknell’s win over Kansas in 2005 likely expired 2 years ago and the win over Arkansas expired last year. How that money gets split is up to each individual league. Many seem to give the winning team about half with the rest allocated evenly or based on some formula involving record. Of course, that is after what the league takes out for expenses. Much of Lehigh’s cut may be need to keep it’s head coach.

    #5474

    norcalfan
    Participant

    Well that sums it up. If Reed is getting paid, maybe CJ will look to see if he can get paid. What an awesome win for the young men.

    #5475

    TMH
    Participant

    Is Dr.Reed’s position currently endowed?

    #5527
    Bison137
    Bison137
    Participant

    I’m not sure of the exact payout formula but I think the first year payout is divided into 10 shares with LU getting 2 shares and each other team plus the PL getting 1 share. After that, the additional years’ payouts are split evenly among the 8 teams and the league.

    As for the comment on Bucknell, the year after Kansas there was a small increase in the number of applicants – nothing close to 50%. When it comes to good academic schools, some studies have indicated that there is very little increase in quality applicants due to a good sports season.

    #5528

    TMH
    Participant

    My source for the 50% were a set of Bucknell parents apparently exagerating. In an article with the Morning Call this morning, Bucknell quoted the increase as 9%.
    Per the Morning Call:
    By pulling off what some are calling the biggest upset in NCAA Tournament history, the Mountain Hawks’ work on the basketball floor already was paying off-court dividends. Visits to Lehigh’s website increased by 500 percent over the weekend. Its name held the title of most Googled on Saturday and was still hanging in at No. 4 two days later. The Bethlehem school also got a shout out from nerdybracket.com, which noted that Lehigh graduates won the starting salary title ($57,200) among teams in the tournament.
    Other links:

    http://www.mcall.com/news/breaking/mc-lehigh-ncaa-tournament-exposure-20120319,0,2799731.story

    http://www.mcall.com/sports/college/lehigh/mc-lehigh-ncaa-tournament-column-0319-20120319,0,672200.column?page=2

Viewing 6 posts - 1 through 6 (of 6 total)

You must be logged in to reply to this topic.