I’m reading Death to the BCS, an excellent book about the truth behind the Bowl Championship Series written by Dan Wetzel, Josh Peter and Jeff Passan. It’s an eye-opening read about how the bowls are fleecing colleges under the guise of non-profit (or charity) status. I really can’t recommend the book enough.
Here’s an excerpt about how the BCS keeps small bowls alive:
Know this about the bowl system: It is not subject to a free market, and this is where the future of the smaller bowls comes into play. If left alone, the minor bowls would collapse, and they would collapse spectacularly.
The BCS operates much like a government, offering a form of welfare to ensure the survival of small bowls. Industry insiders estimate just fourteen of the thirty-five current bowl games are self-sufficient. The rest profit from a system that takes money from universities and guides it into the pockets of bowl operators.
It’s more shell game than bowl game. Take Minnesota, which agreed to buy 10,500 full-price tickets to the 2008 Insight Bowl in Tempe, Arizona, according to records the school filed with the NCAA. When Minnesota sold only 1,512, it incurred a $434, 340 loss on tickets alone. It spent an additional $1.2 million on travel costs and other expenses. In the end, it cost Minnesota $1.7 million to collect the bowl’s $1.2 million payout. In a vacuum, Minnesota’s bowl experience would have been at least a half-million-dollar financial drain.
