Just received U of L's financials for the end of the calendar year. I went right to ticket sales based on what we have witnessed in basketball and football this year. I'm posting the numbers for each sport on the free message boards for each...
Basketball is in the middle of the FY2023 season. Based on FY2022's midyear and full year numbers, however, the lion's share of true operating revenue has already been been banked. 92% of the revenue for ticket sales, suite rentals, and parking was in hand by 12/31/2021. Most of the remaining revenue this season will be realized as suite rentals. (Concession revenue in basketball is not booked until the end of the season.)
I refer to the total of these categories as "game day revenues" to distinguish them from other operating revenue categories. The total of GDRs this season was $11.8 million as of 12/31/2022 compared to $13.3 million for the same period a year ago, a decline of 11.7%. Basketball revenues were budgeted to be higher compared to last year, so I project actuals to come in around 15% under budget which would be a $2.4 million deficit.
By comparison, football GDRs declined by 15% Y-O-Y. But they should finish only around 6% under budget because, unlike basketball, total football revenues in these categories were budgeted to decline.
Basketball is in the middle of the FY2023 season. Based on FY2022's midyear and full year numbers, however, the lion's share of true operating revenue has already been been banked. 92% of the revenue for ticket sales, suite rentals, and parking was in hand by 12/31/2021. Most of the remaining revenue this season will be realized as suite rentals. (Concession revenue in basketball is not booked until the end of the season.)
I refer to the total of these categories as "game day revenues" to distinguish them from other operating revenue categories. The total of GDRs this season was $11.8 million as of 12/31/2022 compared to $13.3 million for the same period a year ago, a decline of 11.7%. Basketball revenues were budgeted to be higher compared to last year, so I project actuals to come in around 15% under budget which would be a $2.4 million deficit.
By comparison, football GDRs declined by 15% Y-O-Y. But they should finish only around 6% under budget because, unlike basketball, total football revenues in these categories were budgeted to decline.
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