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Started By
Message
re: Game Cancelation cost LSU 3.2 Million in revenue
Posted on 9/9/15 at 11:19 am to Waffle House
Posted on 9/9/15 at 11:19 am to Waffle House
quote:
At $25* each for 92K is $2.3M. Won't break the AD, but it isn't an insignificant amount.
*I have no idea the average ticket price for all the tickets sold by LSU, but that seems reasonable.
The face on all tickets is $25. Which is really dumb because obviously the inherent cost of a suite or club ticket is far higher than $25 (seat donation fees etc which LSU is not refunding). Also its out of 100k now. not 92k.
This post was edited on 9/9/15 at 11:20 am
1
Posted on 9/9/15 at 11:20 am to BilJ
Why have they not mentioned the policy.
Posted on 9/9/15 at 11:22 am to gemlsu
because pretending you're coming out of pocket for it seems like a much nicer gesture.
I really have no idea if they have one, but I can't imagine them not having one in this region.
I really have no idea if they have one, but I can't imagine them not having one in this region.
Posted on 9/9/15 at 11:33 am to tigers1956
Alleva will make that up pretty easy, all you have to do is increase baseball, basketball and football tickets an extra $5 or so. Parking will go up $5.
The LSU fan will pay it back by end of next football season.
The LSU fan will pay it back by end of next football season.
Posted on 9/9/15 at 11:44 am to BugaPainTrain7
We carry event cancelation insurance
Posted on 9/9/15 at 11:47 am to tigers1956
Higher ticket prices and MORE neutral site money grabs...this will be all the excuse they need to rationalize it !
Posted on 9/9/15 at 11:51 am to ManBearTiger
quote:
Is this like how the film-tax credits "cost" LA so many millions of dollars?
Why is falling short of projected income all of a sudden considered the same as losing money that was already in hand?
Refundable tax credits do cost the state millions of dollars. The state pays out tax credits to film companies that often owe little or no tax in the first place. When a film company owes $10 K in taxes, but gets a tax credit of $10 Million, that money has to come from somewhere, and it comes from other tax paying businesses and individuals.
Posted on 9/9/15 at 11:51 am to Mr.Perfect
40% of the tickets were at $35 not $25. Student tickets were less.
My calculations: 87,000 x $28.75 is $2.5 million we'll lose for sure. Refunding student tickets I am not sure of. $10 a ticket? times 15K is another $150K in losses.
Anyway you look at it losing $2.65 million is BIG for LSU. SECN revenue (which was about $9 million in 14-15) should help cover that in 15-16 as that revenue should increase to maybe $12 million.
My calculations: 87,000 x $28.75 is $2.5 million we'll lose for sure. Refunding student tickets I am not sure of. $10 a ticket? times 15K is another $150K in losses.
Anyway you look at it losing $2.65 million is BIG for LSU. SECN revenue (which was about $9 million in 14-15) should help cover that in 15-16 as that revenue should increase to maybe $12 million.
Posted on 9/9/15 at 11:53 am to gemlsu
quote:
Why have they not mentioned the policy.
They have mentioned the policy. Alleva said in the original announcement that they expect LSU's insurance policy to cover at least a portion of the losses.
Posted on 9/9/15 at 12:02 pm to ColeCoushCoush
'They have mentioned the policy"
Thanks ... missed that.
Thanks ... missed that.
Posted on 9/9/15 at 12:16 pm to BugaPainTrain7
Good.
Maybe Alleva will prepare a Plan B from here on out.
Maybe Alleva will prepare a Plan B from here on out.
Posted on 9/9/15 at 12:20 pm to Meauxjeaux
quote:
Alleva said the school has an insurance policy for such issues, but he isn’t sure how much will be covered because a brief part of the game actually was played.
Posted on 9/9/15 at 12:27 pm to BugaPainTrain7
They probably made more than that in concessions. I usually buy a large coke and peanuts before every game and that's my only trip to the concession stand. However, I stuck it out until the bitter end hoping for a game and ended up buying nachos, a burger, chick-filet another coke and a damn frozen lemonade. WAY more than any refund I might get.
Posted on 9/9/15 at 12:33 pm to JGtoo
I would think concession sales would have gone up with the delays. I know that won't make up for the loss, but I would be interested to see what the differences in sales were.
Posted on 9/9/15 at 12:38 pm to tickfawtiger
quote:
Higher ticket prices and MORE neutral site money grabs...this will be all the excuse they need to rationalize it !
Says the ticket scalper
Posted on 9/9/15 at 12:46 pm to Mr.Perfect
quote:
We carry event cancelation insurance
Which was nullified after the Kickoff..
Posted on 9/9/15 at 1:20 pm to BugaPainTrain7
Then they shouldn't have cancelled the game after the storm storm died down. They could've played before midnight with a running clock and McNeese could've slept on the bus
Posted on 9/9/15 at 1:24 pm to schwartzy
EASY FIX...
Increase ticket prices on the next few neutral site OOC games! Let those who get quality games pay instead of dedicated season ticket holders who get stuck with crappy OOC games.
Increase ticket prices on the next few neutral site OOC games! Let those who get quality games pay instead of dedicated season ticket holders who get stuck with crappy OOC games.
Posted on 9/9/15 at 1:25 pm to gemlsu
quote:
$25 or $35 means a hell of a lot less to me than $3.2 million or whatever to MY university. Please keep the money.
Your feelings on the matter?
if you feel like you aren't giving enough to your university, by all means, up your ante. You don't need to rely upon game cancellations to feel the desire to help out your university by $25 further.
Posted on 9/9/15 at 1:29 pm to Chad504boy
Concession wise, I spent a little more than normal waiting for outcome.
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