Florida is one of the programs that will begin selling alcohol at football and men’s basketball games next season. It is a growing trend, but a Forbes report shows that the revenue gained from such changes is not as great as you might think.
The Gators have set their projection at only $145,000 in revenue from alcohol sales at seven football games and 18 basketball games, according to Forbes’ Kristi Dosh. Just 7.5 percent of football patrons will have access to alcohol purchases and 6.5 percent of fans at home basketball games, so the revenue projections make sense.
Instead, according to Dosh, the real potential to make money comes in the form of sponsorships and the ability to rent out the venues for other events, such as concerts. The presence of alcohol at games makes this a stronger possibility.
For example, Louisville made $2.5 million during three years in a sponsorship deal with Makers Mark, according to the report. Texas made one of the highest revenues strictly from alcohol sales at football games with a total of $1.8 million, but the Longhorns are unique in that they don’t restrict sales to certain sections of fans like Florida intends to next season.
So, while fans may be pleased with the presence of adult beverage vendors at games, the revenues only equate to a small percentage of the overall pie for schools.